Eliminate Innovation Pessimism
The Information Week website reported that tightening budgets and growing skepticism about whether innovation and new technology will continue to drive new capabilities and growth have lead some to “innovation pessimism” There’s one way around such thinking that can help reduce up-front costs without compromising results. It involves open innovation, where both internal and external ideas are used to accelerate innovation. Having explored the results of 20 companies considered leaders in open innovation, it’s evident that this dual approach increases innovation, enables faster time-to-market, reduces costs and risks, and stretches competencies and resources.
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