How Open Innovation Increases Consumer Value

How Open Innovation Increases Consumer Value

Today's innovative companies recognize that to create winning innovations, it's not just about unique technology, but also the value and impact those innovations bring to customers. Open Innovation, when fully integrated into the product development process, ensures that output is authentic and relevant, by utilizing outside talent and sources of technology that are closer to the end-user or market. By engaging those on the forefront of each discipline, enterprises can deliver unmatched value to their customers.

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More Innovation Resources:

Divide and Conquer

Division is one of the five innovation templates of the Systematic Inventive Thinking method. It works by breaking a product into its components and manipulating them to create new, innovative constructs.

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Make Better Innovation Decisions: The Link Between Sunk Costs & Meditation

Sunk-cost bias affects decision-making in innovation projects, leading to zombie projects. Daily reflection and mindfulness meditation can help reduce sunk-cost bias and the anticipation of regret in the future if a project is abandoned.

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The Innovation Tools Graduate Course

The Innovation Tools Graduate Course

Learn about the Systematic Inventive Thinking method for innovation, and how it is applied in marketing strategy at the University of Cincinnati.

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