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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. Whether its product development, market research, referrals or even performance reviews, crowdsourcing helps organizations make informed decisions that drive long-term success.
New generations, societal change, sustainable goals and disruptive technology require organizations to be much more flexible, self-reinventing organisms that don’t fit above-mentioned design principles. It helps in organization your partner-network and starting open innovation projects. MIT Sloan Management Review, (4), 47–55.
Popularized by Henry Chesbrough,“Open Innovation” term refers to the broad concepts of leveraging external sources of technology and innovation to drive internal growth. Michael Docherty, 2006). Balancing external and internal R&D activities is key to achieving higher levels of innovation.
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