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What is Crowdsourcing, and How Can it Add Value to Your Enterprise?

Qmarkets

Since the 2004 publication of James Surowiecki’s highly influential book, The Wisdom of Crowds , the idea that large groups of people can be smarter than a few individuals, no matter how brilliant, has been gradually gaining prominence in academic circles, business communities, and public opinion.

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Companies betting big on open innovation

hackerearth

[This paradigm] assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology.” ( Henry Chesbrough, 2006 ). The free flow, in and out, of ideas and IP promotes innovative ecosystems. General Electric.

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33 Routes to Open Innovation

Open Innovation EU

Rather than taking a (technical) process-oriented approach, Open Innovation is now also about Open Business Models ( Chesbrough, 2006 ), Open Services ( Chesbrough, 2010 ) – both from a more strategic perspective – and practical tools (Vanhaverbeeke, 2017) – more from a tactical or operational point-of-view.