Crowdsourcing from within your organization is a cost-effective method of capturing new ideas and boosting business innovation internally. Not only will it be of significant benefit to your business, but it will also empower employees when they see their ideas are being taken onboard and executed. Seeing their own idea come to fruition and the positive impact it has on the business will inspire confidence and further innovation.
A fantastic way of generating valuable ideas is by publishing a Challenge, encouraging employees to generate solutions to a specific need or problem. This way, ideas are more targeted and have the added advantage of directly solving a problem.
Whichever way your innovation strategy works, posting Challenges should be made as easy and accessible as possible. Ensure you have the capabilities to reach a specific group of people, track responses and measure successful inputs. Publishing a Challenge in this way is about pushing boundaries.
Consider sharing a challenge with a group of people you may not usually have approached, as this will generate varying perspectives, opening the field for original ideas. Posting an innovation Challenge is an effective way of encouraging employees to get their creative juices flowing. Sometimes they just need a nudge in the right direction and Challenges can get people thinking, collaborating, and ultimately solving problems for the business.
Crowdsourcing from within your organization is fantastic, but talented thinkers and groundbreaking ideas can be found both inside and outside of your organization. In an increasingly digital world, it is easier than ever before to connect with these people; therefore, Open Innovation is a smart approach for a networked world. If your business has a need for a brilliant new product, service, or technology, or requires a solution to a particularly challenging business issue, Open Innovation can really help by connecting you to the smartest innovators on the planet.
Open Innovation typically starts with either an unmet need, around which you build a competitive marketplace, or a network, where you can then build a collaborative community. A firm could publish a Challenge or brief to the outside world and rely on Open Innovation from their customer base or interested parties.
Alternatively, firms can also begin by seeking out potential partners and forming a productive relationship without a specific need. The source of new ideas and technologies is often smaller suppliers, but it can also be other firms, universities, or consumers. The process involves posting an idea, aligning it to a Challenge or goal and deciding who is best to contribute.
Once partners have been established, they can then co-develop new ideas and innovations. The most promising will be brought to market through a variety of collaborative business models, such as license deals, joint ventures, or acquisitions.
61% of companies are collaborating with startups and entrepreneurs.
Wazoku makes posting Challenges easy, allowing users to gather helpful insights from team members right away. Reach a specific group of people by inviting hand-picked individuals or groups, set deadlines, add rewards, track responses, and measure successful inputs.
Developing New Products or Services
Solving Complex Business Challenges
Enhancing Collaborative Networks and Partnerships