Wednesday, July 6, 2011

Crowd Sourcing Innovation

Can innovative idea generation succeed when working with collaborators? Is it better to have lots of innovative ideas to choose from, or a few of higher quality? The answer will help you decide whether you approach hundreds of idea-generators using a technique know as crowd sourcing or bring together a few brilliant minds. Innovation requires both, and here's when to use what.

Quantity and quality serve different purposes. Quantity gives a better chance to receive innovative ideas. But high-quality collaboration is useful when trying to assess all these opportunities. Highly skillful collaborators can help you to better interpret this wealth of insights, to recognize the value of ideas that is not often visible at first, especially when it comes to radical change, and to identify a novel strategic direction.

In short, If quantity is good for creating ideas, quality is good for setting a vision. That’s a useful standard to explore the next time you are tasked to develop an innovative new capability or product. Cast a wide net for ideas from customers, your marketing team, your R&D team, and even competitors. With that list in hand, convene a trusted team of collaborators who can envision the best strategic direction these ideas present for growth.

Have you used crowd sourcing  to accelerate your innovation planning? What pro's and con's have you experienced?

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