Forrester

Why Read This Report

Product innovation isn't just a nice-to-have; it's a must-have, particularly in light of the rapid changes taking place at the intersection of technology and consumer behavior. Product strategists must update their closed product innovation processes with open innovation initiatives to keep pace with the rapid changes affecting markets and end user customers. The open innovation playbook examines the issues and opportunities that product strategy professionals must assess, develop, and measure to build an open innovation approach that extends beyond a company's four walls. In this playbook, we identify the steps that product strategists must take to embrace open innovation, including recognizing the opportunity, developing the strategy, executing on plans, and measuring the results. Keywords: open innovation, co-creation, innovation, product innovation, product strategy, playbook, executive overview, product development