article thumbnail

Examining the State of Crowdsourced Innovation in 2019

IdeaScale

The average number of years a company spends on the Fortune 500 list is dropping. Fifty years ago, a company on the Fortune 500 list could expect to stay there for 33 years, but by 1990, that tenure had shrunk to 20 years. Those figures indicate increased volatility, but they also indicate that innovation is behind the churn.

article thumbnail

Why Is Innovation Vital for Your Organization and What Innovation Services Are Available to Help?

IdeaScale

For example, research shows the COVID-19 pandemic sped up the digital transformation, with companies reporting they are three times likelier to conduct at least 80% of customer interactions online. Idea sharing is the first step in the innovation process. Crowdsourcing Approach. IdeaScale Innovation Services.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What You Need to Know About Crowdsourcing

IdeaScale

Every spring at IdeaScale, we start receiving requests from undergraduate and graduate students around the globe who are researching crowdsourcing and its potential application in the business world. But we thought we’d document some of the most common questions below to tell you what you need to know about crowdsourcing.

article thumbnail

Assess Your Innovation Program

Planview

Such disruption, impacting companies regardless of industry, is fueling the sense of urgency behind innovation. Either your organization is innovating or it’s getting swallowed up by the competition. That’s why having an effective innovation program is so important to stay afloat.

article thumbnail

6 Steps to Getting Executive Buy-In for a Crowdsourced Innovation Program

Planview

Engaging the “crowd” at scale in your innovation initiative has been proven to fundamentally transform companies. In fact, Gartner recently named crowdsourcing as the most effective independent discipline that CIOs can adopt to drive digital transformation. The advantages of crowdsourced innovation can’t be ignored.

article thumbnail

Grow Like Flo in 2016: Taking the Lead from Progressive’s Crowdsourced Innovation Program

Planview

Here are a few things the team at Progressive is really, really good at: (1) creating one of the most iconic brand mascots to ever hit the insurance scene; (2) leading the charge in industry breakthroughs, like data-driven driving services; (3) developing awesome new products, services, and processes with crowdsourced innovation.

article thumbnail

Companies betting big on open innovation

hackerearth

At lower risk and often lower costs, companies can use this strategic tool to explore new opportunities for growth. Why does open innovation work? When companies leverage the power of brilliant minds everywhere, success can’t be far behind. We can't do all that innovation ourselves – it's not possible.