"The more a company opens itself up to engage with the outside world, the better its chances. In this new era, scale won't guarantee viability in the face of massively interconnected customers, suppliers, and competitors. But all of those scientists and employees can do amazing things if they connect with what's happening outside your walls.
"Think of the old pillars of corporate power: It used to be that only big companies could afford to own a computer. Only big companies could organize large numbers of people and make it possible for them to work together effectively. Only big companies could conduct advanced scientific research and technological development. Only big companies could advertise to the mass market of consumers. And only big companies had the capital needed to build and run manufacturing plants. All of this is being transformed by the democratizing force of a new digital era that makes it easy for people, scattered and diverse, to come together quickly and communicate effectively even though they're not bound together by any kind of formal organization..."
In the article, there are some great examples of companies experimenting with open innovation, including Google, IBM, Dell, Fidelity Investments, P&G and Caterpillar.
[image: Open 24 Hours on Houston Street]