The Luxury of ‎Open ‎Innovation: a ‎Case Study of ‎Whirlpool Essay

2050 Words Apr 3rd, 2013 9 Pages
The Luxury of Open Innovation: A Case Study of Whirlpool

Karlstad Business School | Handelshögskolan vid Karlstads Universitet |

TITLE OF THE WORK: The Luxury of Open ‎Innovation: A Case Study ‎of Whirlpool Prepared by: Family name | Given name | Shurrab | Hafez | El Bouassami | Mohammed |

TABLE OF CONTENTS 1. INTRODUCTION - 1 - 2. BACKGROUND - 2 - 3. THEORY - 2 - 4. DISCUSSION AND ANALYSIS - 3 - 4.1. Whirlpool - 3 - 4.1.1. Idea Generation - 3 - 4.1.2. Idea Development - 4 - 4.1.3. Commercialization - 5 - 5. CONCLUSIONS - 6 - 6. REFERENCES - 7 -

1. INTRODUCTION
In the past, all companies almost depended on their own R&D centres for developing and launching new innovative
…show more content…
Actually, and in many cases, innovation process is a combination of three consecutive stages that the components and structure of business model are cleared and accomplished. The first element is idea generation, which is done by collecting ideas about customers’ needs and what products and/or services may be delivered as a value proposition to the end-customer. The second element is idea development, which is done by adopting the most relevant innovative ideas that could be marketed as an answer for what the customers are waiting for. The third element is commercialization, which is the process of testing assumptions about the market opportunities (Muller et al, 2012). 4. DISCUSSION AND ANALYSIS
As the use of innovation within business is characterised by high uncertainty and uniqueness, we prefer to expose some aspects of a real case, where open innovation became central practice in. 5.1. Whirlpool
One of their new products that have been introduced to the market in 2000 is found to be worth telling about and analysing, which is affresh (Muller & Hutchins, 2012). The story of how affresh came into the scope of Whirlpool could reflect open innovation and user innovation relevantly. We analyse the stages of affresh development until it became a global brand from innovation perspective, with emphasis on marketing stages. They have also considered different tools of innovation

Related Documents