Innovate or Die
The BBC website noted that with centers around the world employing thousands of researchers and engineers serving all of General Electric’s divisions, you might think the company had innovation covered. But Todd Alhart Todd Alhart of GE Global Research says: “We have a tremendous amount of investment in engineering, but the world is moving a lot faster. So we know we’ve got to be faster.” So GE has been experimenting with “open innovation”, inviting external engineers to take part in design competitions. Facing dual pressures of the cost of innovation and the speed at which the innovation economy is changing, large organizations are increasingly embracing open innovation.
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