How to Know Which Ideas Your Company should Pursue
July 23, 2019 By Dirk Deichmann, Violetta Rodopoulou, Inga Hoever
ABSTRACT:
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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