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In order to survive and thrive in harsh economic environments and capitalize on opportunities driven by the current regional and global needs for Safe, Green, and Connected solutions, companies are required to constantly create/innovate new products while shortening their time to market. These new requirements cannot be met with the traditional closed innovation approach. A new approach calls for working with “others” in order to benefit from complementary resources. Open Innovation is a means to empower collaborative innovation aimed at meeting the new requirements for fast paced, cost effective and yet innovative technology. This paper presents the key elements of Open Innovation from its birth to its implementation. Firstly, it describes Henry Chesbrough's OI model. Secondly, it suggests that a successful implementation of an OI model can be achieved though the application of Everett Rogers' theory of Diffusion of Innovations.

In today's automotive industry, developing new products and systems is more important than ever before. Central to the creation of innovative products is technology development. However, managing technology development has often proven to be a difficult task for many American firms. This book provides instruction on how to make technology management more effective and efficient. It discusses several ways to leverage technology development to get more value with fewer resources. Alignment, globalization, centralization/decentralization, sourcing, co-development, technology intelligence, and intellectual property are all extensively covered. Advice is provided on how to ease implementation of these solutions, and several examples of the successes enjoyed by best-practice companies are detailed. Chapters cover: Global Trends in Automotive Systems Management of Technology Challenges in Automotive Technology Management Meeting Technology Management Challenges Best Practice Case Studies