------------------------------------------------- Interactive Value Creation -------------------------------------------------
CASE 1: InnoCentive: The Idea of Crowdsourcing
Pre-Assignment:
1. Why would firms use InnoCentive´s service to solve scientific and technical problems?
* First, a seeker typically comes to InnoCentive because it has not been able to solve a problem on its own.
* The Use of InnoCentive may lead to Bigger breakthroughs/increases the potential of innovations
* Organizations can tap into the diversity of the InnoCentive Marketplace to find gifted individuals they would never otherwise identify.
* The pool of potential participant-solvers is quite broad including many people * InnoCentive tries to solve this problem in two ways – firstly, it has well defined policies regarding ownership of IPRs which are communicated to all parties in advance. Secondly, it promises handsome financial rewards to successful parties, in exchange of their IPRs. These financial rewards are also announced in advance.
* Defining the problem:
* The critical starting point for an IC Challenge is defining the problem that needed solving. * The Seeker, working with IC´s scientific operations staff, had to articulate its concern in ways that would enable non-company Solvers from diverse scientific fields to imagine it. Problem of Sticky information * This involved the creation not of a traditional requirements document, but rather of a description of the problem that would be accessible to a wide range of participants
* More disadvantages/problems
* It is difficult to evaluate the cost for the solvers for a specific issue. * How to determine the amount of the reward? * Some companies may be “discreet” to post their R&D issues on internet. * Good ideas sent by solvers not chosen, would be lost.
* Problems of Solver Interaction/Team Participation
* This could need more time and affect the deadline negatively * This could need more price money * What about the
Related Documents: Problem Solving and External Innovators Essay
negotiation. New issue: takeovers, downsizing. Large problem: the need to achieve organizational effectiveness in a highly dynamic environment. Action Imperatives: Collaborate, Control, Compete, Create A single framework: The four models is four important subdomains of a larger construct: organizational effectiveness. The Use of Opposing Models Adaptable and flexible Stable and controlled Growth, resource acquisition, and external support Tight information management and formal communication…
Enterprsie & Entrepreneurship Through referenced literature and examples, examine the range of theories of what an entrepreneur is and how they contribute to the economy and society. TABLE OF CONTENTS 1 – Introduction ______________________________________________ 3 2 – Concept of Risk/Uncertainty_________________________________ 3 – ‘Entrepreneur’ – Who? What?_______________________________ 3.1 – Roles played by an Entrepreneur_____________________ 3.2 – Trait versus Behavioral…
to benefit from the changing market, but having HR strategy aligned closely to the business organization strategy can cause inflexibility in the real world. Her model describes two types of HR managers these are; Conformist innovators and Deviant innovators. Conformist innovators are the personnel specialist whom identifies the…
current world economics, having their own business may be an attractive alternative for this sector of the population. Since there are many new businesses in these times, some entrepreneurs succeed but not all of them. There are many internal and external factors that affect businesspeople. Some barriers obstruct many entrepreneurs. This essay will examine method of business operations by successful and unsuccessful entrepreneurs. Next, This essay will separate them into four essential factors that…
something new to the world. On the negative part, entrepreneurship activities need time to before their true impact is evidence. Entrepreneur is a person who can use limited resources effectively. Entrepreneur is also a person who is adventurer and innovators. The paper also talked about successful entrepreneurship. Successful entrepreneurship sets off a chain of reaction encouraging other entrepreneurs to iterate upon and ultimately propagate the innovation to the point of “creative destruction,”…
Hugh Hefner was an extraordinary innovator, entrepreneur and revolutionist. The sex obsessed pop culture and generation can recognize the seed of its foundation for being planted by a man who chose to do as he wished. Still yet to be uprooted despite its negative nature, the media has embraced sex as a great advertisement. Hugh Hefner fits into a special category of leadership called transformational. Transformational leaders enhance their followers’ morale and performance through various avenues…
Differentiator. B) Innovator. C) Cost leader. D) Market leader. E) Market follower. Answer: C Difficulty: Moderate Page Ref: 29 6. Which of the following statements is true in an uncertain environment? A) The organization must rigidly define operating methods. B) A market leader strategy is the best strategy to adopt. C) There is less complexity in the environment. D) Cost leader strategy is the best strategy to adopt. Answer: B Difficulty: Easy Page Ref: 30 7. Low uncertainty in the external environment…
turn to innovation to gain competitive advantage over its competitors in the fight for resources and market share. Today, change has become a constant, and uncertainty a certainty. Companies in all industries worldwide are faced with a stressful external hypercompetitive environment (D’Aveni, 1994). According to Tidd and Bessant (2009), whilst competitive advantage can come from size, or possession of assets, the (innovation) pattern is increasingly coming to favor organizations that can mobilize…
can lead to conflict, aggravation and in-fighting. Plant The plant is a specialist idea maker characterised by high IQ and introversion while also being dominant and original. The plant tends to take radical approaches to team functioning and problems. Plants are more concerned with major issues than with details. Weaknesses are a tendency to disregard practical details and argumentativeness. Resource Investigator The resource investigator is the executive who is never in his room, and if he…
Marketing Study Guide. 1. MK323: 1 (Intro) * Marketing – is an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders * Marketing helps create value, satisfies customer needs and wants, entails an exchange, requires the 4 Ps, can be performed by individuals or organizations, occurs in many settings * Entails an exchange:…