Fall 2013
Article
MIT Sloan Management Review

Spurring Innovation Through Competitions

By: Alan MacCormack, Fiona Murray and Erika Wagner

Format:Print

Abstract

Alan MacCormack, Fiona Murray, and Erika Wagner examine the phenomenon of corporations using innovation contests. They write: "Companies are searching for better ways to identify and exploit novel solutions. Increasingly, they are discovering that many of the very best ideas lie outside their organizations, in an ecosystem of potential innovators who possess wide-ranging skills and knowledge."

Keywords

Competition; Innovation Strategy; Innovation and Management

Citation

MacCormack, Alan, Fiona Murray, and Erika Wagner. "Spurring Innovation Through Competitions." MIT Sloan Management Review 55, no. 1 (Fall 2013): 25–32.