Has Crowdsourcing Become A Mainstream Innovation Tool?

(This post originally appeared on Innovation Excellence)

Given the level of excitement the concept of Open Innovation has caused in the media in recent years, one would assume that this approach has become a common tool used by organizations to achieve their innovation goals.

Indeed, last year’s study by Henry Chesbrough and Sabine Brunswicker showed that large companies in Europe and the U.S. were increasingly using open innovation in their business practices. However, when asked which specific open innovation tools they employed the most, the respondents chose customer co-creation, informal networking and university grants. At the same time, crowdsourcing and working with open innovation services providers (OISP) were rated lowest in importance.

This is somewhat sobering news. Although undeniably “open” in their nature, co-creation, informal networking and academic collaborations are not exactly new approaches: companies have been using them for years. It is crowdsourcing that has been hailed as a hallmark…

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Coinbase teams up with Intuit’s QuickBooks to open up bitcoin payments to small businesses


Pay-by-bitcoin will be a new payment option for invoices, thanks to a free service from Intuit announced today. Small businesses who use QuickBooks Online can register for a wallet with Coinbase and link it to their account. Intuit’s new PayByCoin service then allows customers to pay with bitcoin (in addition to all the normal ways) and the business records the transaction as usual. How many people will use the service? It will depend on how many existing customers already have quantities of bitcoin laying around to spend, but it’s still a move that makes it just a little bit easier for businesses to accept the cryptocurrency.

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