A phenomenon in which people are biased against externally developed prototypes or ideas.
Predictive Analytics involves using statistical algorithms, machine learning, and other techniques to identify future patterns.
Green Energy: Sustainable power from renewable resources causing minimal environmental impact.
Innovation failures are unsuccessful attempts to bring new ideas to market, often leading to valuable lessons and future improvement.
Starbucks' open innovation experiment, My Starbucks Idea, allowed customers to participate in the product development process, generated new ideas, and fostered customer engagement.
Overcoming internal barriers to collaboration is crucial for successful open innovation, including acknowledging the "not invented here" syndrome, bridging credibility gaps, and being generous.
