Innovation Tournaments: Driving Innovation From WithinDeloitte Insights podcast |
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Smart companies have always understood that great ideas can come from anywhere — a well funded research and development department or the guy in the next cubicle. Innovation is critical if a company wants to grab precious market share or squeeze more efficiency out of their operations.
Some companies today are turning to their employees or customers as a source of innovation. One increasingly popular approach is the “innovation tournament,” an in-house contest designed to systematically harvest employees’ ideas and turn them into profitable new products, services and business improvements. The concept is simple, but making it work can be anything but.
Highlights:
- What role should an innovation tournament play in a company’s overall innovation strategy?
- How does Deloitte approach innovation tournaments?
- What is the future of innovation tournaments?
Guests:
John Levis, chief strategy officer, Deloitte LLP
Christian Terwiesch, professor, University of Pennsylvania Wharton School of Business and co-author of Innovation Tournaments: Creating and Selecting Exceptional Opportunities
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