A clear, practical guide to implementing Open Innovation for new product development 'Open Innovation: New Product Development Essentials from the PDMA' is a comprehensive guide to the theory and practice of the Open Innovation method. Written by experts from the Product Development and Management Association, the book packages a collection of Open Innovation tools in a digestible and actionable format. Real-world case studies drawn from the authors' own successes and failures illustrate the concepts presented, providing accurate representation of the opportunities and challenges of Open Innovation implementation. Key tools are presented with a focus on immediate applications for business, allowing NPD professionals to easily discern where this cutting edge development method can push innovation forward. Open Innovation assumes that companies can and should use both internal and external ideas and paths to market, permeating the boundaries between firm and environment. Innovations transfer outward and inward through purchase, licensing, joint ventures, and spin-offs, allowing companies to expand beyond their own research and dramatically improve productivity through collaboration. 'PDMA Essentials' provides practical guidance on exploiting the Open Innovation model to these ends, with clear guidance on all aspects of the new product development process. Topics include: Product platforming and idea competitions Customer immersion and interaction Collaborative product design and development Innovation networks, rewards, and incentives Many practitioners charged with innovation have only a vague understanding of the specific tools available for Open Innovation, and how they might be applied. As the marketplace shifts dramatically to keep pace with changing consumer behaviors, remaining relevant increasingly means ramping up innovation processes. 'PDMA Essentials' provides the tools NPD practitioners need to implement a leading innovation method, and drive continued growth. Proven tools to leverage networks and unearth the best ideas for innovation The days of depending solely on employees for innovation are gone. Open innovation is taking over the old R&D paradigm, sweeping away old attitudes and allowing firms to capitalize on the very best ideas and minds from around the world. 'Open Innovation' is part of the PMDA Essentials series written by the innovation experts from the Product Development and Management Association. Inside, you'll learn how to take advantage of the blurring boundaries between your organization, your customers, and even your rivals. Learn how to implement essential open innovation tools that encourage collaboration: Leverage contributor insights through product platforming Implement best practices for idea competitions and incentive-based innovation Integrate customers into the product development lifecycle Use social media and big data to define innovation targets Understand patent licensing and network analysis In a world of distributed knowledge, localized innovation just won't work. Read 'Open Innovation' to tear down the walls that are separating your firm from maximum productivity.