Update: Best Practices In Crowdsourcing

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A new sub-category as well as three best practice examples have been added to the list of open innovation and crowdsourcing examples. The following three projects were added to the new open source sub-category (under Corporate Initiatives):

1. LEGO Mindstorms - open source robots
2. BurdaStyle - open source sewing
3. GoldCorp - the famous GoldCorp Challenge

Note: It concerns open source initiatives/experiments from established companies, not peer produced open source projects like Open Source Software for example.

The central question is: how can existing companies tap into the creativity and wisdom of the crowd in order to improve the usability, design, and desirability of their products? Contrary to conventional business thinking, the cases of LEGO, BurdaStyle and GoldCorp provide successful examples of how publicly sharing confidential information opens up new opportunities, and in the end, has a positive bottom-line impact on profitability. Have a close look at these 3 examples, and embrace a new way of thinking about sharing information and enabling your customers to participate in your NPD (New Product Development) processes.