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• W2588045720 abstract "Festo is a leading world-wide supplier of automation technology and in this sector also the performance leader in industrial training and education programs. The dutch regional office of Festo has in the past decade experienced a change in their relationships with customers. Not only has their market changed from a technology push to a technology pull market, but are customers nowadays looking for partners that are able to deliver integrated functional solutions to their automation problems. Festo NL is a company driven by innovation and in many senses ahead of the competition, but problems occur when attempting to introduce disruptive technology. Disruptive innovations come hand in hand with high market uncertainty, and require inventive and highly customisable applications to be materialised. Finding the necessary markets is a demanding task, in which Festo NL is limited by their traditional business culture. Also, Festo NL has troubles satisfying the demands of customers, simply because the products do not offer what the engineers are used to. Disappointing launches of disruptive innovations have made Festo NL realise their innovation approach in these cases are not optimal. The source of the problems identified is the increasing importance of information value-adding activities in current business environments. It is changing the way companies, such as Festo NL, need to perform business, and asks for more efficient use of information and knowledge from supply chain partners. Linear and traditional innovation models, as fostered by Festo NL, focus on physical value adding activities and limits them in their attempts to provide customers with good solutions to their automation problems. Successful commercialising of products in this modern business environment asks for drastic measures. To tackle these issues companies need to embrace Open Innovation business models and leave linear and traditional innovation models behind. By allowing for external as well as internal sources of information to enter the company, Festo NL is able to extend their reach. Open Innovation models ask for a social and flexible way of communicating with customers. The goal should be to engage in an intrinsic dialogue with lead-users, and at the same time stimulate experimental and conceptual design of new applications. By doing that Festo NL can deliver more customer centred products, and deliver more value to new markets. The main means of such a dialogue is profound information and knowledge sharing between people, which is catalysed by Social Media communication. Social Media communication tools facilitate the necessary information and knowledge sharing, and at the same time offers interactive tools which stimulate collaboration and exploration of new ideas, which can lead to new applications. By implementing an online platform based on Social Media communication activities, Festo NL can extend their reach and deliver products and services that add value for their customers. ‘Seed’ is a concept of community which will help Festo NL towards embracing Social Media communication and Open Innovation. Festo NL will by implementing such a community become more customer centred and at the same time find new markets for disruptive innovations. Developers of disruptive innovations at Festo will profit from this increased reach and ability to create customised products, making Festo NL more innovative and able to stay ahead of the competition." @default.
• W2588045720 created "2017-02-24" @default.
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• W2588045720 date "2010-01-01" @default.
• W2588045720 modified "2023-09-26" @default.
• W2588045720 title "Finding Markets for Disruptive Innovations: How Social Media Can Help" @default.
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