Crowdsourcing in innovation strategies

Crowdsourcing in innovation strategies involves gathering ideas, feedback, and solutions from a large group of people, often through online platforms. Rather than relying solely on internal teams, companies tap into the collective intelligence of the public, customers, or enthusiasts. This approach encourages diverse perspectives and creativity, leading to innovative products or solutions. It democratizes the innovation process, allowing anyone to contribute, and often results in faster, more effective problem-solving as many minds work together to address challenges or develop new concepts.