At the core of every business is the need to solve problems. And when it comes to solving problems, the old saying still applies: Two heads (or more) are better than one.
That’s the simple idea behind open innovation, a process by which one company presents a challenge and invites others to participate in finding marketable solutions. It’s not a new concept, but in a time when rapid technological advancement has become key to our survival, I’m convinced that this type of intercompany collaboration will be increasingly essential to business success and social progress.
