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What’s “crowd funding”? It involves consumers investing small amounts of money (as little as $1) in businesses whose products they fancy.
To tap fully into the swarm creativity of innovative customers and employees, companies must adopt a completely new mindset for doing business.
Using outside technologies to develop products and licensing intellectual property to external parties will carry a company only so far. The next frontier is to open the business model itself.
Companies with a restricted view of innovation can miss opportunities. A new framework called the “innovation radar” helps avoid that.
How firms can overcome the obstacles to strategic innovation and break the rules of the game in their industry.