A phenomenon in which people are biased against externally developed prototypes or ideas.
Proof of Work is the initial consensus algorithm used in the Bitcoin blockchain network to confirm transactions and produce new blocks.
Cognitive Diversity refers to the inclusion of varied thinking styles and perspectives in a team or organization.
An Innovation Hub is a physical or virtual space designed to nurtures innovation in a particular field, where experts lend advice and direction to the innovators
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.
