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In the present relentless and serious world, do you realize what the principle goal of most organizations is? It is not being able to cater to the service and product demands but every organization also looks forward to establishing a personal connect with their target consumers. Apart from offering quality products and services, it is also crucial to address the audience in person and understand their pulse i.e. knowing what keeps them connected to a brand and what does not. In the course of recent years, forward thinking enterprises have been depending on the cycle of open innovation to attain this objective.

The modern day process of idea management therefore is not only about “thinking out of the box”, or jotting it down in a pen and paper and executing the equivalent inside the bounds of a meeting room. It is all about addressing the public at large and indulges in mass idea capture that not only helps product development as well as offers answers for day by day life.

Moreover, many organizations will in general use the cycle of thought the executives not exclusively to tackle day by day issues but also to provide people with a better and Eco friendly way of life. Apart from establishing deeper and important audience connect, these organizations expect to improve the overall living and way of life norms and incorporate beneficial practices.

Plastic handling today is a major concern globally. World leader in expulsion measures Reifenhauser, Canada launched an open innovation contest making use of the crowd sourcing software to generate creative ideas for plastic processing. To use the challenge, members were approached to zero in on angles, for example, the items that can be delivered with extrusion, fresh machine developments that can be executed to the extrusion process for greater benefits and, etc. The result of the challenge separated from several sections were not many winning and “out of the crate” thoughts that was adopted by the company acknowledging the contributor.

For more information click here open innovation marketplace.

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