Implementing inbound open innovation in the CE industry. A case study of Philips-branded Televisions

Abstract

Successful innovation requires a company to participate in open innovation and to be connected with the ecosystems around it. For consumer electronics industry, this article distinguishes knowledge, experience and legislation/certification ecosystems. In order to draw the necessary knowledge from ecosystems for inbound open innovation, companies should involve all functional areas in the gathering information and trends from the ecosystems. While most companies involve marketing, development, and production, two key areas for ecosystem knowledge gathering often remain untapped: purchasing and the participation in external standardisation bodies. Successfully using all functional areas to gather ecosystem knowledge will lead to the right innovations at the right time. Regular cross-functional meetings ensure the appropriate translation of collected information and knowledge into portfolio and development choices.  The article illustrates this by the example of TP Vision, the makers of Philips-branded televisions, which has successfully applied this innovation process in the consumer electronics (CE) industry.