Reducing Uncertainty: Openness in the Front-End of Innovation

Description

To reduce uncertainty in the “fuzzy front-end” is one key objective in the innovation process. Various authors claim that openness is one way to reduce uncertainty. The objective of this study is to analyze whether and how a cross-industry foresight project in the fuzzy front-end can help to reduce uncertainty or whether the diversity of companies tends to hinder knowledge generation. This qualitative study shows insights into a collaborative foresight project in which seven organizations from different industries have participated to dis-cuss and to identify the potentials of the blockchain-technology in terms of future innovations based on this technology. First analyses show that this project have reduced the level of uncertainty and made it easier for the participating organizations to engage in a strategic decision on how to deal with the phenomenon of the blockchain-technology in the future. Particular emphasis was placed on the diversity of input, the possibility to generate completely different new ideas, and the “out-of-the-box-thinking”. However, we also found that important prerequisites are an open mindset to this “cross-industry fore-sight approach” and intermediaries - who take into account the different goals and requirements of the participating companies.

Period	10 Sept 2019
Event title	20th International CINet Conference
Event type	Conference
Location	DenmarkShow on map