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ACT!—Turning Insights into Action

In: Open Innovation Labs

Author

Listed:
  • Giovanni Schiuma

    (LUM Giuseppe Degennaro)

  • Francesco Santarsiero

    (LUM Giuseppe Degennaro
    University of Basilicata)

Abstract

Having explored the why, what, and how of OILs, we now turn to practical application. This chapter transitions from theory to practice, offering actionable steps for creating, optimizing, and managing OILs to drive growth and creativity, enhancing innovation, performance, and competitive advantage. We introduce a strategic guide to identify the most suitable OIL type based on organizational needs and resources. It provides a roadmap for achieving efficiency and effectiveness, transforming OILs into innovation catalysts and avoiding pitfalls. Essential elements for successful OIL implementation are outlined, including best practices, critical success factors, and practical tips. A detailed roadmap for constructing an OIL is presented, covering planning, stakeholder engagement, design, and operation. This guide supports both new and existing labs in achieving objectives. Finally, strategies for fostering continuous innovation and learning are explored, emphasizing maintaining momentum, adapting to changing needs, and ensuring long-term sustainability. By focusing on the future, organizations can stay ahead of the curve and drive continuous value through OILs. This chapter serves as a practical guide to turning insights into action, helping create an OIL that meets current needs and evolves to address future challenges and opportunities, transforming your organization into a beacon of innovation and excellence.

Suggested Citation

  • Giovanni Schiuma & Francesco Santarsiero, 2024. "ACT!—Turning Insights into Action," Springer Books, in: Open Innovation Labs, chapter 0, pages 93-115, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-75533-0_4
    DOI: 10.1007/978-3-031-75533-0_4
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