Use Open Innovation to Find New Products

By • on November 16, 2015

The Information Age website noted that the open innovation movement is in full swing, and companies everywhere are turning to external sources for new product ideas. But with open innovation becoming a standard business model, how can a company truly gain a competitive advantage? More specifically, where can it look for new products that no one else has thought to look? Though it sometimes may seem like the well of new ideas has run dry, there is a practical, cost-effective solution that remains relatively untapped across industries. Open innovation is a key resource that companies can employ to find new products.

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