Open Innovation

What is Open Innovation?

How does it differ from 'innovation', in general?

What type of organization and management skills are essential to Open Innovation?

NetFlix $1 Million Challenge - how did that work?

Class Exercise 16/01 - Crowdsourcing Business Model

Is crowdsourcing a business model? or just a Flashmob?

Today we will look at 4 online businesses that use crowdsourcing as the basis of their business model.

Group 1

http://www.mob4hire.com/ or Fr version

Group 2

http://www.elance.com/ or FR version

Group 3

http://www.crowdspring.com/ or FR version

Group 4

http://99designs.com/ or FR version

Group 5

https://www.mturk.com/mturk/welcome

Your group has 1 hour to do a FULL e-business analysis - use the analysis framework.

Key elements to present to the class - a brief summary - are:
-how do they generate revenue
-what model(s) are used
-is there application for other industries - cite an example.
-how can the model be enhanced??

MBA level work - impress us!!!

MBA Work Standards + Innocentive Re-Do

Well my friends, reading your blogs, looking for MBA level work - Innocentive Case Study - has been interesting.

Only 8 people posted - of those that posted 3 were past the due date. Full business model analysis was missing...lots of description, light on analysis.

Clearly, the quality of each individual's work + group work needs to reach MBA standards.

This group needs to achieve MBA quallity work in:

• Analysis of models, understanding of the various models
• Design thinking skills
• E-business concepts, e.g. open innovation, crowdsourcing, etc.
• Online presentation skills
• Personal productivity tools

So here are the steps required...to reach MBA quality standards...in addition to the assigned case study, the below is required:

1. The core concept of this course is Design Thinking.

• Each week, you must read an article,Slideshare or Video on the topic - ENG, FR - your choice
• Post a brief recap of the article, slides or video - with a text link to same
• In each post, include a comment on how design thinking relates to any of the online companies we have reviewed in class.
• This weekly post is due EACH Sunday by 10 PM.

2. Read 9 Business Models on the Web. For each model, post in your blog:

• An example of an online business that uses that model
• is that business a pure business model or a hybrid
• if a hybrid, what is the combination of models
• Text link to the online business that exemplifies the model you have chosen

January - post 2 models

February - post 4 models

March - post 3 - before the last class March 20

Want to make it easy to find the models? Hint: Use Google Alerts.

Innocentive - we'll cover in depth in the next class - as there was inadequate preparation for a meaningful, insightful discussion.

The same requirements apply:

1. Use the E-business Model Analysis framework - supplied on the first day of class - in the Class Brief

>>>>Use the framework to guide your analysis - not just answer each question

2. Put your presentation in a Prezi - make is interesting, understandable and insightful

3. The due date is 4 days before the session for the post, 2 days prior for the cross comments.

I know you are all intellectually capable of reaching MBA level work....Have a doubt???

Read re-inventing the MBA.

Problems - let me know before the due date.

Reminder - blogs posts are 40% of the grade - includes these new requirements.

For Class 16/01 - Innocentive

Read – 9 Business Models of the Web

Please use the guidelines provided in the Class Brief to provide an analysis of Innocentive.

Your blog post is due 4 days prior to the next session – cross comment on a classmate’s blog – 2 days before the next session.

Now that you are familiar with Slideshare, use Prezi to create your presentation.

Thank you in advance for MBA level work.

Class Exercise 12/10

Examining the Long Tail

1. Work in groups of 2 or 3

2. Select an online business that utilizes the Long Tail as a Business Model

>>>Not one from the readings - a new online business

3. How do you know the Long Tail is the business model - illustrate with screenshots

4. What problems does this specific business solve for:

>>>Customers

>>>Partners - Suppliers

>>>Owners - Investors

5. Put your work in a Slideshare - cross link from each group member's blog.

This exercise should take 45 minutes.

In Class 12/10

Website of the Author - well worth a visit

Long Tail Business Models

View more documents from Alexander Osterwalder.

Real Example - My Space YouTube 'star'

For Class 12/12 - The Long Tail

Long Tail Concept

Prepare to discuss in class:

1. What is the concept?

2. How is it different than 'traditional' retail concepts?

3. What issues will an e-business face when using the Long Tail as the method for growing revenue?


Read:
This article from WIRED Magazine - only 5 pages, it won't take long. Be sure to look at the images in the article.

View:
The short video embeded below:

Post in your blog - Due Thursday PM- 10/12

Cross comment on another class member’s blog by 11/12

Your perspective – How does Long Tail concept relate to the online business environment?

1. Yes - why?

2. No - why not?

3. Find an example to support your position

4. Text link to that example

5. Blog posts MUST be MBA level work
• original - not copy paste
• insightful - not descriptive
• concise - clear thoughts, expressed well - short + focused