Building Expertise Through Collective Innovation
Open innovation has been a hot management phrase for the past five years. So far, though, these collaborations have generally been focused on small-scale research and development, or technology ventures between giant global brands and smaller partners. Think Proctor & Gamble's (PG) collaborations with universities and suppliers or IBM's (IBM) embrace of an open-source software language which both saves the company money and provides it with a new revenue stream.
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