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Innocentive case study

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Case Study Analysis Solutions. InnoCentive has developed its strong presence in the domestic market as well as it has acquired significant market share in the problem-solving industry. Moreover, it has a wide variety of solvers that belong to different countries and background and possess competent skills and knowledge, which allows the firm to have a strong presence in the market. The major weakness of InnoCentive is that it has a low reputation in the market regarding liabilities, which is not good enough, due to which its future debt rating has increased.

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Case Studies | InnoCentive

Posted by georgia on December 7, in Articles 1 Comment. Year Today, crowdsourcing is almost mainstream when it comes to solving problems in creative ways and transfer knowledge and technologies on fast forward and at lower costs than traditional ways. By joining the open innovation revolution, your organization increases its research and development capabilities while it consistenly cuts down the risk and costs associated with research failure. You pay for solutions instead of work, failure, or trial and error.

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In: Business and Management. Use one field site or example for the entire paper. Also, be explicit about the level issue.
These organizations are called Seekers on the Site, and are the major source of revenue for InnoCentivepaying fees to formulate their Challenges with IC staff members and then post them on the website for Solvers to review and submit proposals. The most common contract that is created through InnoCentive is one for legal exchange of Intellectual Property rights from the Solver s in return for an agreed upon award by the Seeker. One rationale of Solvers to submit solutions on the InnoCentive platform is for their personal gratification in being challenged by a real world problem. On the other hand, Solvers are self-interested, so their engagement is also initiated by the prospect of winning the awards, which can range from hundreds to one million dollars.
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