A phenomenon in which people are biased against externally developed prototypes or ideas.
Collaborating with customers to engage their expertise in designing new products, services, experiences, and business models.
Disruptive Innovation: A novel product/service that upends markets by displacing established leaders and reshaping industry dynamics.
Kaizen entails the continuous practice of incrementally improving products, processes or services over a period of time.
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.
