Open Innovation and Crowdsourcing Best Practices

Open innovation and crowdsourcing are innovative approaches to creating new products and ideas. However, improper use can lead to failure. It is crucial to understand when each approach is best utilized and choose the proper platforms to drive success. For example, it's important to evaluate whether to keep ideation in-house or open up an innovation challenge to the masses. Similarly, it's important to choose the right crowdsourcing platform and payment that work for your specific project. Finally, open innovation and crowdsourcing can also be used for improving existing projects.