How Crowdsourcing Impacts Innovation
The Crowdsourcing website notes that the Internet has had a profound influence on innovation practices. Crowdsourcing has tipped the innovation balance from the domination of large corporations towards smaller entities and access to these innovation sources has become an important part of innovation strategy. Customer crowdsourcing, such as MyStarbucksIdea, has opened new avenues of identifying customer needs and trends. Another highly powerful way of applying crowdsourcing is in the identification of technology solutions to fulfill needs, whether they are customer or corporate. Needs driven innovation and Open Innovation are at the convergence of these two crowdsourcing methods.
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