Ideas for innovation

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Some business leaders, employees, entrepreneurs, and organisations cope with constant change by crowdsourcing ideas from stakeholders. But which ideas are best for business and how should managers select them? A recent study by associate professor Dr Dirk Deichmann, assistant professor Dr Inga measured the ‘efficiency’ of ideas in a database of crowdsourced suggestions from customers of a high street retail business with a strong online brand. The researchers’ aim was to find a formula or tool for evaluating ideas for their benefits in comparison to the cost of developing and implementing them.

The RSM researchers used suggestions from Starbucks’ idea crowdsourcing platform to test their theory, and created a toolkit for filtering ideas – by submitting them to an efficiency test as a fi...

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