It is only a fact that doing business then and doing business now are two very different things. ‘Then’ means before the inception of Internet and the present time is depicted by ‘now’. Though this might baffle some of you at the first place but when you consider looking into the matter with a bit of an insight, you will very likely see that although the roots remain the same, the approach has revolutionized a lot over time. This is the very reason many people say that innovation management can be equated with that of the invention of fire.
Before Internet came in the scene, innovation was considered something which is totally ‘hush hush’ and were always practiced behind closed doors as if it is a top secret government operation. Yes, true that it was successful and gave us many inventions and but also at the same time it was cutting off almost everyone from the chance to innovate. Many of the Apple products or inventions like electrocardiography are all fruits of this closed innovation model.
The term ‘open innovation’ is nowadays considered the heart of any company and very righteously so. But why? Well, the previous closed innovation didn’t allow many avenues to be explored and was stuck within a limited place which is the very opposite of the global vibe nowadays. The inception of Internet has helped to break all the language barriers allowing skilled professionals from round the globe to come and work together, which would have been previously impossible with the closed innovation model.
According to surveys, the companies in which the employees are highly engaged in the innovation process is very likely to deliver better results than a company which doesn’t supports employee crowdsourced innovation. This is only because of the reason that now the employees are heard from, on different matters, regardless of the job profile of the individual. This results in the accumulation of best ideas and brainstorming session which is immensely helpful.
It is only true when one opines that employee retention and hiring the right people at the first place is of immense importance to a company. It takes a hell lot of money, time and effort to train the employees of a company, therefore if the employees leaves a company all of a sudden, again the whole process has to be repeated. Crowdsourcing ends a lot of these. As a result of crowdsourcing, the employees feel that they are part of the organization and grows a weakness for the same. They happen to have the feeling that their opinions do matter. And this results in obliterating the tendency of an employee to leave the organization at the first place.
Apart from this, crowdsourced innovation management can also bring smile on one’s customer’s face. This is as because when the employees are happy and content, it is only natural that they will be much dedicated and determined in their efforts, results of which are reaped by your customers.