Problem Solving and External Innovators Essay

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Interactive Value Creation
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CASE 1: InnoCentive: The Idea of Crowdsourcing

Pre-Assignment:

1. Why would firms use InnoCentive´s service to solve scientific and technical problems?

* First, a seeker typically comes to InnoCentive because it has not been able to solve a problem on its own.

* The Use of InnoCentive may lead to Bigger breakthroughs/increases the potential of innovations

* Organizations can tap into the diversity of the InnoCentive Marketplace to find gifted individuals they would never otherwise identify.

* The pool of potential participant-solvers is quite broad including many people …show more content…
* InnoCentive tries to solve this problem in two ways – firstly, it has well defined policies regarding ownership of IPRs which are communicated to all parties in advance. Secondly, it promises handsome financial rewards to successful parties, in exchange of their IPRs. These financial rewards are also announced in advance.

* Defining the problem:

* The critical starting point for an IC Challenge is defining the problem that needed solving. * The Seeker, working with IC´s scientific operations staff, had to articulate its concern in ways that would enable non-company Solvers from diverse scientific fields to imagine it. Problem of Sticky information * This involved the creation not of a traditional requirements document, but rather of a description of the problem that would be accessible to a wide range of participants

* More disadvantages/problems

* It is difficult to evaluate the cost for the solvers for a specific issue. * How to determine the amount of the reward? * Some companies may be “discreet” to post their R&D issues on internet. * Good ideas sent by solvers not chosen, would be lost.

* Problems of Solver Interaction/Team Participation

* This could need more time and affect the deadline negatively * This could need more price money * What about the
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