Open Innovation is catching fire with international industries, and Garwood is excited to be at the forefront. Business leaders are sparking conversations on what we can do to capture value in developed and emerging markets with Open Innovation business models.
China North Industries Corporation (NORINCO), visited Berkeley Haas with eagerness to collaborate on Open Innovation and to expand their business model by learning under Open Innovation experts: Henry Chesbrough and Solomon Darwin. Chief Executives from NORINCO, including Chairman Jun Wang, and affiliated corporations, Zhenhua Oil and Wanbao Minerals, visited Berkeley Haas this July 13-15 for an educational seminar on Open Innovation, followed by visits to Silicon Valley companies, including Xerox, Fujitsu, and IBM (view agenda). NORINCO is a Beijing-based corporation known worldwide for their high-tech defense products with reports of $64.4 billion in revenue in 2014 (Defense World). NORINCO is a US-friendly defense company that only conducts trade with US approved nations and ranks among China’s 500 largest state-owned enterprises in terms of total assets and revenues. This defense giant engages in both products and capital operations, integrated with R&D, manufacturing, marketing, and services.
“Through the courses of Open Innovation in Haas School and exchanges with Xerox, Fujitsu and IBM, We get more in-depth understanding of the benefits which open innovation can give the enterprises.” – Ji Yanzhao, Executive Director, ICP Office, NORINCO
Professor Chesbrough’s presentation on Open Innovation was a true eye-opener, bringing insight to innovations to grow in this ever-changing economic landscape. Professor Darwin taught attendees about Past & Future Trends of the US Economy & Innovation –– a presentation that lead to a thought-provoking discussion. Darwin expanded upon the concepts and benefits of these revolutionary business models by presenting his Case Studies in Open Innovation.
“The content of the ‘Disruptive Innovation & Open Business Models and The Changing Global Landscape’ program definitely resonated with us. We look forward to continuing the dialogue for potential synergies and strategic partnerships that may exist between our respective groups.” – Dania Zhou, Managing Director, SkyOcean & William J. Kim, SkyOcean
NORINCO executives visited world-renowned Silicon Valley companies that apply Open Innovation and open business models. Executives learned from influential Open Innovation practitioners: Todd Schofield, Director of Open Innovation at Standard Chartered Bank; Jim Newton, Chairman and Founder at Techshop; Dr. Markus Larsson, Global Managing Director and Head of Sales & Business Development at Xerox; Dr. Mohi Ahmed, Senior Director of Open Innovation at Fujitsu; and Dr. Jim Spohrer, Global Director of University Programs & Cognitive Systems Institute at IBM. Speakers shared their experience in which they encountered a need for innovative and intuitive solutions to their firms’ stagnation in the market.
“Open Innovation in services lead us to stay committed to provide evolving solutions and dynamic evolution to our valued customers!” – Ma Gang, Deputy General Manager, Tech Service Department, NORINCO
Raving about his visit, Mr. Jinxing Li, Deputy General Manager, summarizes the general consensus of the Chinese executives:
“The Open Innovation presentations given by both Professor Darwin and Professor Chesbrough were very impressive to me and my colleagues. The cases of Xerox Parc, Fujitsu Gateway and IBM research centre are the practice of the theory. Norinco as a leading company in China is emphasised on innovation for many years.”
By: Cindy Ma