Latest Thinking

Open innovation is a kind of innovation that has recent in coming generation years which allows companies to essentially source some of their innovation efforts to outside parties,through contests where individuals compete to develop the best solution to the innovation challenge the company has set forth.  Apex Global USA perform open innovation by essentially putting forth an innovation problem they are facing to the public or, at least, a community of individuals outside of their firm and then inviting individuals to submit solutions to that problem. 

There is also a vast downside to being in the definition of open innovation,there are a lot of people who claim to talk about “open innovation” but are actually talking about something else.  recent field of research or business activity arises, such as open innovation, the terms often get thrown around carelessly enough that they lose their specific meaning and consequently some of the power of the original concept.  It’s very unfortunate when this happens, because managers end up dismissing these watered-down ideas for their vagueness or lack of specificity, when the original concept was actually quite robust and promising.  There’s a real possibility that this could happen to open innovation, as the panelists noted, so while we continue to try to understand the benefits of open innovation and how to best utilize it, we Apex Global USA be incredibly careful about how we talk about it, lest we ruin an otherwise great idea to serve latest innovation to customers.