Simply put, an injection of new thoughts and ideas from proven, lateral thinkers who do not know what the intricate 'norms' of an industry or company are can reap great rewards.
If you're familiar with the term, 'open innovation', then you will know that it describes how innovation can be improved by inward and outward flows of knowledge and influence. Read more about open innovation on our Innovation Questions page.
Innovation in established companies of any size can be stymied due mainly to people and bureaucracy - and their love child, lack of creativity. Outsourcing innovation can bring a whole new level of vigor to teams and employees that have strong skills, but find themselves unable to bring them to the fore because of short-term goals of the business and internal politics.
Innovation Company's outsourced innovation strategies help to get the best out of your existing teams and key employees, whilst bringing fresh, new, innovative ideas to your business. This exchange of industry knowledge from your end, and our innovation services and innovation consultancy, using our HiveMind framework and years of experience helping businesses, make for a strong team and solution indeed.
When a competitor has created a product or service that causes you to potentially lose sales, an outsourced innovation solution can work because there is a target to aim for - to create a better solution before the competitor has time to build another one and bring that to market, too.
Rather than build an internal team that will spend a lot of time preparing, getting past internal politics and then studying the competition's product or service BEFORE starting to build prototypes, an external innovation company can get straight to work with none of the politics, and perhaps crucially, a purposeful lack of insider knowledge about the competitor and its relationship with your business.
With an amount of freedom, the external innovation team can build - with speed - and test much more frequently than an internal team could perhaps do - mainly due to lack of leadership interference.
Outsourced innovation is fast becoming a service that many forward-thinking businesses in almost every sector are using just like they use advertising agencies, marketing companies and outsources sales teams.
Contact us for more information about our outsourced innovation strategies.