Innovation Articles

How to Know Which Ideas Your Company should Pursue

As companies adopt open innovation and crowdsourcing to stay at the forefront of innovation, the challenge of selecting which ideas to pursue is enormous. Research shows that organizations that receive a large number of ideas have difficulty selecting the most original. Evaluate the benefits an idea relative to the cost of developing it. A concept that offers only incremental benefit but requires little investment might be more profitable than a fantastic idea that requires a lot of investment.
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