Collaborative innovation network

rdf:langString Collaborative innovation network

rdf:langString InternetArchiveBot

rdf:langString January 2018

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rdf:langString Collaborative innovation is a process in which multiple players contribute towards creating new products with customers and suppliers. Collaboration can occur in all aspects of the business cycle, depending on the context: * Procurement and supplier collaboration * Research and development of new products, services and technologies * Marketing, distribution and commercialization Collaborative innovation network (CoIN) is a type of collaborative innovation practice that makes use of the internet platforms such as email, chat, social networks, blogs, and Wikis to promote communication and innovation within self-organizing virtual teams. The difference is that people that collaborate in CoIN are so intrinsically motivated that might not be paid nor get any advantage. Thus, a CoIN is a social construct with a huge potential for innovation. It has been defined by the originator of the term, from MIT Sloan's Center for Collective Intelligence, as "a cyberteam of self-motivated people with a collective vision, enabled by the Web to collaborate in achieving a common goal by sharing ideas, information, and work". Indeed, CoIN is a type of open collaboration that helps organizations to become more creative, productive and efficient. By adopting CoIN as part of their culture, these companies accelerate innovation, uncover hidden business opportunities, reduce costs and enhance synergies. They not only can engage employees from every level of hierarchy towards a common project (discovering new talents and promoting direct relation between employees) but also partner with external parties. Similar is the concept of the "Self-Organizing Innovation Network", it has been described by author, Robert Rycroft of the Elliott School of International Affairs of George Washington University.