Innovation is the process of implementing new ideas to create value for an organisation. Value is often achieved by doing things better or finding a way to market a product or service in a way that connects with people.
Open innovation is an innovation process that is open to anyone outside of the organisation who wants to register as a user to contribute ideas and comments to a challenge that has been published to the general public.
Ideation is the formation of ideas or concepts. Creative thinking, conceptualising, brainstorming, call it what you will, is the unique thought cycle at the inception of any idea. Idea formation is crucial to the innovation lifecycle and is where great new products and services are born.
A timed challenge is a challenge (or campaign) put out to your crowds that is set up with a deadline date. When the deadline has passed, no further ideas can be submitted into the challenge. Many organisations like to use this method as it creates a sense of urgency and encourages people to participate quickly.
A non-timed challenge is a challenge that has no deadline for submissions. This kind of challenge gives people the ability to participate continuously.
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