Open innovation is not a new concept, but it is still considered an unconventional way of idea generation. It is based on leveraging expertise and creativity of general public, as opposed to your own dedicated staff. There are several platforms where smaller companies in need of this creative work come together and collaborated with individuals and other, typically small businesses. In addition to these dedicated platforms, social media can play the same role. Followers can be utilized to do marketing for your company, but social media is useful during market research.
Key Takeaways:
- Open innovation allows more people to take part in the creative process to benefit a business.
- Open innovation platforms allow individual contributors to give ideas that allow a business to gain new perspective.
- A business can also make good use of social media to directly ask customers what they want and encourage them to pitch ideas.
“Even though the concept of open innovation has been around for centuries, it is still not the dominant method to produce innovative ideas.”
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