Open Innovation

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Designing prizes to spur new ideas

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Innovation prizes are “experiencing a resurgence,” writes Jaison G. Morgan in a recent article in the journal Innovations.



Breakthroughs and the "Long Tail" of Innovation

To understand how breakthroughs in creativity occur, managers must understand how most collaborations work. “Managers first need to understand that invention is essentially a process of recombinant search,” writes Lee Fleming. “That is, I adopt the classic definition of invention as a new combination of components, ideas or processes.” Fleming adds that “Almost all inventions are useless; a few are of moderate value; and only a very, very few are breakthroughs. Those breakthroughs constitute the ‘long tail’ of innovation.”


The Era of Open Innovation

Companies are increasingly rethinking the fundamental ways in which they generate ideas and bring them to market — harnessing external ideas while leveraging their in-house R&D outside their current operations.


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