Thanks for this article. I think General Mills should retain both their R&D departments as well as their method of gaining ideas externally, since they are a well established company that needs to maintain cutting edge R&D and innovative ideas in order to stay competitive and relevant in the industry. I think Open Innovation should be used as an add-on to any normal departments the company operates, rather than replace them. This would be their competitive advantage.
Great article, thanks for posting an interesting perspective on Open Innovation! I believe LEGO has taken the right approach in response to the decline of the toy industry since the rise of technology has hit the younger generations. By allowing children and adults to vote on new playsets, LEGO is staying relevant in the age of technology and is getting more customers involved in the design phase.
I wouldn’t be too worried about Toys ‘R’ Us’ bankruptcy, as the transition in buying habits has shifted towards e-commerce (like Amazon), on which LEGO is already a prominent figure.
Very interesting article! When thinking about the future of automobile manufacturers and the impact additive manufacturing will have, we can see that the main benefits are in aiding workers complete their jobs more safely or more efficiently. This seems to show that the jobs of these workers are not being taken away or replaced by the additive manufacturing innovations, but rather the workers’ efficiency is increasing. For this reason, I believe that manufacturing jobs are still safe, despite the large increase in additive manufacturing technology in the auto industry.
Great article ! I think you touched on a very interesting aspect that additive manufacturing has to offer companies like Nike – customizability! The benefit of 3D printing objects is that the consumer can ultimately decide on any color, material, and shoe model that they wish (given the constraints of the printer being used) and experience no delay in manufacturing time. Traditional methods of creating shoe soles involve injection molding, which can only be done in batches. Therefore, if the machine is currently producing white soles, the factory worker will have to wait for the machine to finish producing the entire batch before turning off the machine, switching out material colors, and injection molding the custom colors. In the past, this method was simply not used given the huge time and cost effects it would have on production. Thus, the use of 3D printing at Nike will revolutionize the way the end user can create and wear their custom Nike products.
Thanks for sharing this article, it’s very interesting! I think one big advantage Daimler (and all other German OEMs) have over Google or Tesla is their golden track record in the car manufacturing industry. They are a well-established luxury car manufacturer with many more years of experience, which is their key asset in this situation. They should absolutely compete against Google and Tesla since the self-driving car industry is not yet established and a market leader has yet to be defined. This could be their big breakthrough and a huge differentiating factor for them from all other German OEMs.
Great article, thanks for sharing! I was particularly impressed with Paypal’s tactic of combining linear and non-linear algorithms to create an “ensemble” that can better predict the level of fraud on any given transaction. Since Paypal is an online payment system connecting banks and consumers, It would be interesting to know how Paypal is working in collaboration with banks on checking out fraudulent activity. Since we know banks and credit card companies constantly check transactions, it would be interesting to know if the work is being done twice (once at the bank, and once at Paypal), and if so, whether they are both employing the use of machine learning or not. The sheer number of transactions that a machine can proof may appear to threaten the jobs of fraud analysts, but there is a big difference in quality versus quantity. Fraud analysts (or any human mind for that matter) provide a level of quality in judgement that machines cannot outsmart…at least yet!