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The term was popularized by Jeff Howe in 2006, when he described how businesses could leverage online communities to source innovative ideas. By breaking down barriers to participation, crowdsourcing helps organizations tap into a wealth of collective intelligence while driving faster and more agile innovation.
This type of innovation kicks in when sustaining innovations no longer generate additional profitability and the firms turns to cost reduction, mainly by optimizing internal processes. But it is efficiency innovations where IC can be at its best.
This type of innovation kicks in when sustaining innovations no longer generate additional profitability and the firms turns to cost reduction, mainly by optimizing internal processes. But it is efficiency innovations where IC can be at its best.
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