The Open Innovation Process is a collaborative approach to innovation that is typically embraced by organizations seeking to harness external expertise, ideas, and resources to drive their innovation efforts. It involves actively engaging with a diverse network of external partners, including customers, suppliers, research institutions, startups, and industry experts. This process is used to source, develop, and implement innovative ideas and solutions by tapping into the collective intelligence of a broader ecosystem. By opening up innovation beyond the boundaries of the organization, it brings fresh perspectives, accelerates the innovation cycle, reduces R&D costs, and increases the likelihood of successful, market-driven innovations, ultimately delivering a competitive edge in today’s rapidly changing business landscape.
Almost overnight Praxie created a customized solution for our 100 member organizations across Canada to drive strategy and innovation. The Praxie team provided expert guidance and amazing support to our internal team and users.
Praxie’s innovation solution stood out from other options because it can be customized so quickly to fit our exact process requirements. Plus, it’s incredibly easy to use and manage.
I would heartily recommend the Praxie team to any organization seeking to seriously undertake a lasting and successful innovation process.
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Soren Kaplan has been recognized by Business Insider and Thinkers50 as one of the world’s top thought leaders in business strategy, innovation and the consulting industry. Soren is also a Wall Street Journal bestselling and award winning author of two books, an Affiliate at the Center for Effective Organizations at USC’s Marshall School of Business, a columnist for Inc. Magazine, and a globally recognized keynote speaker. He has consulted to and advised Disney, NBCUniversal, Kimberly-Clark, Colgate-Palmolive, Hershey, Red Bull, 3M, Medtronic, Roche, Philips, Cisco, Visa, Nucor, McKesson, Ascension Health, Cigna, CSAA Insurance Group, the American Nurses Association, AARP, and numerous others.