Remove 2003 Remove Change Remove Crowdsourcing Remove Open Innovation
article thumbnail

Nine Short Innovation Lessons from Lego

Destination Innovation

Lego is now revered as one of the most innovative and successful companies in the world. But in 2003 the company was $800m in debt and on the verge of bankruptcy. He created a sense of urgency to undertake the changes ahead. The turn around in its fortunes has been spectacular. Lego focused on its core business first.

article thumbnail

Everything you need to know about innovation management software

hackerearth

O'Sullivan, 2003). Poor innovation planning. Well-designed innovation management software is expected to fix these issues. In a whitepaper , leading global strategic management consulting firm CIMdata categorizes Enterprise Innovation Management (EIM) solutions into three classes: CLASS 1 (Innovation Engagement) solutions.

article thumbnail

Innovation management software: Everything you need to know

hackerearth

“IMS are action-based, goal-centered, and results-oriented applications that adopt a process-based life-cycle approach to facilitate heterogeneous teams’ collaborative efforts in managing innovations, including inception, realization and commercialization.” (L Dooley and D. O'Sullivan, 2003). Poor innovation planning.