Are Innovation Competitions Universal Tools?
The Sqore website noted that open innovation is today a widely used method for making a company’s innovation processes more efficient and effective. Innovation competitions are effective tools within open innovation that work effectively, regardless of whether they are internal, or if a company has opened up their competition to external participants. Despite this, it is important that as an R&D manager, you don’t start to view open innovation and innovation competitions as methods that will work for every challenge you might come across. It is very important that you always do an analysis of how each individual challenge should be approached so that you can come up with the best solutions.
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