Monday, August 17, 2009

Outsourcing Innovation Makes More Sense Now than Ever

Companies have been forced to make cutbacks in various departments and sectors due to the economic crisis, but this article in Business Week highlights how companies and Sepracor and Boeing are actually investing more money in retaining innovation consultants. Dev Patnaik, who spoke at this year's Front End of Innovation Conference in Boston, mentioned "Some [clients] were hit hard and are hunkering down. But crisis is a great opportunity. If it will take years to show results, [they] might as well start now."

Outsourced innovation provides companies with fresh perspectives and allows them to save countless time, energy, and money in industry research. What are some other examples of companies that decided to invest instead of cutback on outsourced innovation?

1 comment:

David said...

OK, I'll admit that I have not read the Business Week article but now being a great time to outsource innovation??? Really?

I thought innovation was the act of realizing new customer value.

If a company gets to the point were its better to outsource the creation of new customer value, that sounds like they are checking themselves into a retirement home waiting to die.

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