Week2, Day5

Keep on creating the technology and hang on!!!

Nokia have been under a lot of pressure in smart phones era because of continuous, fast paced and effective  innovations from competitors like Apple and Samsung. Once the leader of mobile phone devices market, Nokia had been pushed to the corner to fight for the survival. However, In the toughest of the times Nokia has shown quite a resilience and kept on trying to come back. The revenues from their cell phones intellectual property rights royalties  had been their life line for some years now but still they are able to leverage on them and try to catch up with market by creating more innovative technology and this was also the essence of  Jyri Hämäläinen's lecture on Friday. He has not talked much about the concepts of designing open innovation, Instead he focused on how they manage innovation at Nokia Research Centers. The main things I learnt from his lectures are

• Various kinds of emerging technologies in mobile phone devices like Media technologies, Radio systems, sensor technologies. Because of my work experience in mobile phone services domain I was ware of most pf these technologies but topics like "Graphene" and felixible electronics (Morphs) were new to me.
• The way Nokia collaborates with different educational institutions across the world to create the innovation, how they facilitate the whole process and how they take benefit from it.
• Universities acting along with companies as main source of open innovation providing platform for students establish themselves.
• Standardization, How small and large companies collaborate together to create a common standard for technology that all can use to create innovation.

Pros and Cons of Open Innovation.

Pros:

• Collaborations and large pool of resources working together
• Platform for university students to establish themselves
• Interoperability, as many organizations work together to create a common standard.
• Public funding to enable open innovation

Cons:

• No clear boundaries for ownership of the solution
• Project management is very complex in open innovation.