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Insource Innovation to Generate Better Ideas & Fuel Product Pipelines

document Distributed Knowledge, Open Innovation
As companies struggle to generate game changing ideas internally, they begin looking for mechanisms to increase the rate of idea generation. For some organizations, this includes exploring the notion that by opening their innovation funnel to ideas from partners, customers, suppliers and others, they can improve their chances of finding great ideas. The appeal of Open Innovation and Crowdsourcing is the allure of the ‘silver bullet’ – the illusion that the next great idea is out there, companies need only implement a good idea evaluation (aka idea management) system to capture and identify it.
By fusing proven ideation and problem-solving methodologies with precise access to corporate and external knowledge, innovation workers can more efficiently and effectively:

• Define and understand problems and opportunities.
• Analyze market and technology trends.
• Access the information they need, real-time, in the context of the problem they are trying to solve.
• Accelerate ideation and concept generation.
• Capture and re-use knowledge, expertise and intellectual property.
• Collaborate with subject matter experts.

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