Crowdsourcing is something you have probably been a part of, whether you’re aware of it or not. After all, who hasn’t filled out an online survey, added content on Wikipedia, shared a review on Google, or posted an idea in the company group chat?
Why are some large companies able to create more value through innovation? How have they continuously reinvented themselves to stay ahead of new market expectations? And how do they stay at the forefront of their industry decade after decade, even through the era of digitalization?
Innovation, in our collective imagination, is a bit like Aladdin's lamp or a magic wand that everyone wants to get their hands on without knowing how to use it. If turning lead into gold is a well-kept secret for alchemists, converting an idea into an innovative product or service is just as important for growing companies eager for patents.
Sustainability remains a serious concern for many industries, especially retail. Retail companies need to adopt sustainable development goals and take actions to reduce waste. This is good for business and great for humanity.
Nowadays, more people recycle plastic bottles, opt for organic products, and reduce meat consumption. You will probably wonder where the link between environmental protection and recruitment is. Like with climate change, a sense of urgency is seen in recruitment, and in both cases, it’s about responsible behavior and its further development.
Beauty is in the eye of the beholder, but there is less debate regarding the rapid growth of the beauty and cosmetics industry. Combined with fields of deep tech, the future of beauty is not only more sustainable, environmentally friendly, but also scalable and innovative.
Open Innovation is a paradigm that encourages the integration of internal and external knowledge to facilitate the development of businesses, technologies, product development or for the purpose of social justice.
Since the introduction of open innovation developed by Chestbrough, many corporations have been adopting open innovation strategies to improve their innovation process efficiency by leveraging external talent.