Innovating in a downturn - Open innovation management the future for pharma?

To help identify key success factors and share learnings in open innovation management, PA Consulting Group has been speaking to R&D and marketing professionals from sectors ranging from pharmaceutical and medical device to large engineering and consumer products firms. It broached subjects across the whole range of Open Innovation (OI) strategy, from the potential pitfalls to the opportunities presented by working with external expertise. Below is a summary of the key themes that emerged.

Leading from the top - adopting a clear strategy

Most companies agree that OI is key, but relatively few have so far adopted a structured or company-wide approach to it. Several felt that it can be difficult to gain buy-in and resources for OI projects. Those involved in OI can feel marginalized, under pressure to show results or even anonymous company-wide, said PA.