A phenomenon in which people are biased against externally developed prototypes or ideas.
The practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the internet.
An MVP is a prototype of a product or service that contains basic features to test the product in the market without being fully developed y
A leading authority on competitive strategy. Developed a range of economic theories, including the five forces framework.
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.
