Buffl

Chapter 6

DU
by Daniel U.

Assignment Plug and Play

The CMS provides benefits like continuous innovation insights and connections with startups, but requires trust, competing resources, and involvement from multiple departments, and may not benefit more innovative companies with existing knowledge and other open innovation methods.gpt


The CMS offers a variety of benefits for companies. For one, they can get a continuous overview of new developments around the world, explore capabilities outside their core business, and easily connect with startups. These enable them to solve business problems and adopt new technologies more successfully, while reducing costs, risks and lead times. By working with startups, companies can then drive internal business development by adopting a more flexible way of working, letting staff facilitate change and breaking down silos. Or they can even simply invest in or acquire these startups. However, participation in the CMS requires not only trust in the startup, but also in the host such as Plug and Play. Also the CMS requires resources which may reduce the ones used for internal development. Investing in a start-up solution can create an external dependency and prevent the necessary knowledge from being built within the company. The CMS model also introduces a certain way of working that may suit the region, but is not guaranteed to suit the company. For the innovations to succeed, many departments in the company must be involved in the innovation process from the start, which requires various buy-ins and an upfront investment to ensure there are no bottlenecks, even if the pilot fails. The benefits CMS offers can be leveraged by any company and reduce the amount of research required, but more innovative companies may not benefit as much: they often have already gained a lot of knowledge from hiring a big pool of talents and use other methods for open innovation, such as hosting hackathons or accelerators. Because these companies are more innovative, they already know what types of startups they are looking for and can cut out the middleman like plug and play.

Author

Daniel U.

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