Open Innovation: The Power of Many
The Your Better Business website reports that however small your operation, Open Innovation (OI) lets you draw on knowledge, ideas, experience, technology and funding through the internet. OI involves collaborating with external partners to accelerate innovation. It’s a particularly shrewd way to be innovative and drive business growth and profit. As The McKinsey Quarterly puts it: “The internet and related technologies give companies radical new ways to harvest the talents of innovators working outside corporate boundaries.”
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