A phenomenon in which people are biased against externally developed prototypes or ideas.
Innovation management process is the system of tools and techniques used to foster creativity and convert ideas into successful products, services or processes.
Private Equity is an asset class consisting of equity securities and debt in operating companies not publicly traded on a stock exchange.
Innovation Theater refers to superficial activities that give the illusion of progressive innovation without leading to real business impact.
Starbucks' open innovation experiment, My Starbucks Idea, allowed customers to participate in the product development process, generated new ideas, and fostered customer engagement.
Overcoming internal barriers to collaboration is crucial for successful open innovation, including acknowledging the "not invented here" syndrome, bridging credibility gaps, and being generous.
