Kraft Doubles Down on Open Innovation
The website Brightidea notes that since Henry Chesbrough coined the term in 2003, open innovation has been providing a framework for companies to tap a vast network of customers, experts, and other organizations. Companies such as Kraft, P&G, General Electric (GE), and Bosch have been using open innovation to source and develop outside concepts that spur disruptive innovation and help solve pressing challenges. Undeniably, open innovation has been a powerful tool for companies looking to boost innovation, but a lack in focus can sometimes lead to an overabundance of ideas that lack a connection to current business needs.
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