Question

One recent development in generating new product ideas is for a company to invite broad communities of peoplelong dash—such as​ employees, customers, and even the public at largelong dash—into the innovation process. This is known as​ __________.

Answer 1

Crowdsourcing is the recent development in generating new product ideas. It involves inviting broad communities of people, such as employees, customers, and the public, into the innovation process by obtaining contributions from a large group.

Step-by-step explanation:

The recent development in generating new product ideas is known as crowdsourcing. Crowdsourcing is a process where a company invites broad communities of people, such as employees, customers, and the public, into the innovation process. It involves obtaining needed services, ideas, or content by soliciting contributions from a large group of people, often through online platforms.

This approach allows companies to tap into the collective intelligence and diversity of ideas from a wide range of individuals. For example, companies may launch online campaigns or contests to gather ideas from the public, or create online platforms where customers can suggest and vote on new product ideas.

Crowdsourcing can lead to innovative solutions and increase the chances of generating new and unique product ideas. By involving a larger community in the innovation process, companies can gather different perspectives, insights, and creativity that can help in developing successful products.