Many companies are introducing Innovation as a Service, which means an internal group acts as a consultancy that can solve problems for business owners. These innovation teams bring a number of skills to the table, including research, communications, project management, networking, and much more. Many have also adopted a “proudly found elsewhere” solution approach, which uses crowdsourcing to ask the entire workforce---or even beyond the walls of the organization---for solutions to existing problems.
Crowdsourcing and open innovation initiatives are vital by bringing vast stakeholders together to share ideas on complex problems and opportunities. Much of the focus is set on engaging the crowd yet deciding which ideas to take a risk on requires data on the likely impacts and costs.