Asked by Aerial Johnson on Jul 01, 2024

When innovative ideas are extracted from the external environment by holding design competitions and/or using crowdsourcing to broadcast design problems to a large audience of potential innovators it is often called

A) free innovation.
B) crowd innovation.
C) open innovation.
D) environmental innovation.
E) modern innovation.

Design Competitions

Contests or challenges where individuals or groups submit designs in response to a set of criteria or themes, often with the aim of selecting the best.

Crowdsourcing

Outsourcing aspects of a decision process to a large collection of people.

Open Innovation

An approach to innovation that stresses the importance of collaboration with external partners and the exchange of knowledge to spur creativity and new developments.

  • Acquire knowledge of the concept and criticality of open innovation in current business practices.