Why Innovation Must Come From External Sources
The Marketing Mag website noted that ten years ago Open Innovation was seen as cutting edge and high risk; what’s emerged is innovation best practice that enables customer collaboration to solve business and social problems with increased speed and efficiency. Conventionally, multinationals have a traditional paradigm of innovation where value is created ‘inside the company’. The process of customer-centric innovation changes that paradigm to incorporate active participation from outside the organization. Open innovation is ‘the new black’ for brands to create high-level customer engagement, leverage the potential of mass intelligence, and in doing so, enrich the process of experience design.
Click here to read the full article.
