In today’s increasingly competitive and fast-changing global marketplace, businesses must seek to develop more frequent and higher quality innovations. At the same time, customers, employees and other stakeholders are demanding more opportunities to co-create and collaborate with businesses. Stakeholders, who are increasingly informed, connected, networked and empowered, are challenging firms. Customers, for example, are demanding […]
Ethan Mollick, the Edward B. and Shirley R. Shils Assistant Professor of Management at the Wharton School of the University of Pennsylvania, has conducted extensive research on how user communities — product users and informal groups of amateurs — contribute to the development of innovative products. Apple’s App Store is perhaps the most famous example […]
In many organizations, collaborative innovation teams are utilized to manage new product development initiatives. This involves different types of managers (marketing, operations, engineering, etc.) working together to allocate resources to a project. This remains an effective way to spark innovation, but the process can be greatly enhanced by understanding the role that rewards and penalties […]
