Ways of Co-Creation

Ways of co-creation

Traditionally, innovation has been a proprietary matter for any organization and therefore been guarded safely within the walls of the company

nowadays. In this, generally the parent organization posts a problem or some work for the mass customers whosoever is interested to take part in. Most common of these is the ideation contest where the winner example, Threadless, a firm using it to get new T-shirt designs. The benefits of this method are that you can involve hundreds of thousands of customers and get an idea of the kind of products that customer’s desire. The limitations of this method are pretty apparent that this can Open innovation process encourage people to express and discuss their ideas openly thereby having the right set of people of one platform is key to the success of the open innovation process.One of the most important aspects of the open innovation is to ensure its acceptance and participation across the society. Even if the company has a good problem statement for an innovation contest, in order to get useful results it is essential that the right people apply and submit their ideas for it. Internet Crowdsourcing and open innovation are new ways in which companies are co-creating nowadays. In this, generally the parent organization posts a problem or some work for the mass customers whosoever is interested to take part in. Most common of these is the ideation contest where the winner of the contest if generally rewarded in different ways through cash, job offer etc. For example, Heineken runs a website IdeasBrewery.com dedicated for the purpose of crowd sourcing as well as runs a global innovation contest to get ideas of the on-going research in the company