Collaborative innovation and co-creation between stakeholders can deliver value for businesses.
Collaborative innovation can be defined as: “Working with others, sharing knowledge and learning, and building consensus to invent something new or create a new way of doing something, with a view to realizing shared goals.”
Benefits include more – and better – ideas, reduced risk, increased quality and speed to market, reduced costs, new skills and resources, an enhanced brand, and the ability to create value for the common good.
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