Unbridled advances in technology and connectedness have transformed the relationship between companies, customers, and competitors. With this transformation, the lines between business relationships, social connections, and competitive advantage are converging and becoming increasingly intertwined. At the same time, there is a growing urgency to collaborate across boundaries to co-create solutions to the world’s increasingly complex, “wicked” problems.
As a result, companies across all industries and size classes-from established industry giants to high-growth companies in new technology areas-require the skills and knowledge to strategically harness the power of “the crowd” for collaborative and open innovation.
This highly experiential and challenge-led topic is designed to help students: understand how open innovation is used to create competitive advantage, improve society, and disrupt markets; develop the analytical ability to assess ambiguous, unstructured problems and provide solutions; apply practical tools for open innovation, crowdsourcing, collaboration and co-creation and crowdfunding and create new value by developing and implementing co-innovation initiatives.