Paul Sloane (editor); A GUIDE TO OPEN INNOVATION AND CROWD SOURCING; Kogan Page (Nonfiction: Business & Economics) $19.95 ISBN: 9780749463076
Byline: Barry Silverstein
The social networking revolution has brought with it a related phenomenonathe active involvement of the public in commenting upon and sometimes even creating products and services. The result is a specific way of doing business known as "crowdsourcing" which, says Paul Sloane, means to offer "a challenge to a group of people that you may or may not know and solicit their ideas and solutions for your issue." Crowdsourcing is part of a larger strategic way of thinking about business called "Open Innovation," or OI.
This book is an essential guide to both Open Innovation and crowdsourcing, because it is a compilation of the best thinking by experts on both subjects. Editor Sloane has carefully selected pieces on both subjects and woven them together into a cohesive text. The book starts with in-depth definitions of Open Innovation and crowdsourcing. It then moves through over twenty individual essays that cover such topics as institutionalizing Open Innovation, understanding the leadership issues and challenges associated with Open Innovation, how to motivate crowds to participate, building a culture for Open Innovation and crowdsourcing, managing intellectual property issues, and common mistakes.
Because Open Innovation is an emerging concept, case studies of companies successfully implementing OI are essential. In this regard, Sloane's book delivers. It includes a number of relevant stories, such as the manner in which LG Electronics...