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Open Innovation Essentials for Small and Medium Enterprises by Daniel Satinsky, Phyllis Speser, Adriano La Vopa, Luca Escoffier

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Chapter 4

The Power of “Crowdsolving”

Adriano La Vopa

Introduction

Like open innovation, crowdsourcing has become a buzzword. Especially for small and medium enterprises (SMEs), where surplus cash is often negligible, we believe that when a company approaches the crowd, it should be done in a careful and structured way. The risk of doing crowdsourcing without the correct “preparation” is a recipe for dramatic failure. It is imperative to have a clear idea on what to ask the crowd and then determine which is the best “crowd” to approach and how to get their attention.

Crowdsourcing overlaps with some other open innovation approaches, like technology scouting or cocreation with lead users, to mention only two. Indeed, it is difficult to position ...

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