Idea Competitions under scrutiny: Acquisition, intelligence or public relations mechanism?

Idea Competitions (ICs) are becoming a popular mechanism chosen by firms to perform Open Innovation. They are a way to engage with external sources of knowledge such as individual entrepreneurs and small firms who are asked to submit ideas and compete for a prize. However, little is known about the success of ICs as acquisition mechanisms. The researchers conducted interviews in five multinational companies to evaluate the effects of using ICs as an acquisition mechanism. Although still preliminary, the results of this study show that the success of ICs as an acquisition mechanism remains uncertain because their output (i.e. the number of ideas acquired) is often low compared to the input (i.e. the number of ideas submitted) and effort required to run them (e.g. to vet ideas). Across the cases observed, ICs appear to be more successful at identifying and acquiring early-stage ideas, particularly those outside the current business focus. The study shows that ICs deliver other functional benefits such as improved intelligence and public relations and that these need to be considered as part of the evaluation of the IC's success. The paper concludes by discussing the conditions in which ICs are implemented and the implications for Open Innovation theory. © 2013 Elsevier Inc.

Manufacturing excellent engineers: Skill development in a Masters programme

An MPhil programme, delivered by the Engineering Department at the University of Cambridge, claims to be excellent at preparing graduates for manufacturing industry careers. The course uses a combination of different educational experiences, including industry-based assignments, industrial visits and practical exercises. This research explores how problem solving skills are developed during the first module, Induction, which is designed to enable students to undertake their first industrial assignment. From the literature, four conditions necessary for skill development were identified: Provision of a skill description, making explicit key components A number of different experiences with a range of contextual variables A teaching process which includes regular feedback and student reflection Students motivated to learn. These were used to construct a skill development framework (SDF). Using a case study research design, multiple types of evidence were collected to test for the above conditions using both classroom observation and questionnaire methods. The results confirmed the presence of the SDF conditions at different levels, with reflection aspects considered the weakest. Conflicting results were obtained regarding the students' self-awareness of skill levels. A plausible explanation is a change in the students' frame of reference. This initial study set out to develop a better understanding of the process of skill development. Whilst the SDF appears reasonable, there is a need for further work in three broad areas of defining skills, assessing skills and developing reflection skills.