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Social network driven innovation

Author

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  • Ronald Jean Degen

    (International School of Management Paris)

Abstract

This paper explains how the increasingly popular social network driven ideation works for some companies, and how this can be expanded to encompass the complete crowdsourcing innovation process (beyond simple ideation). In a contemporary context, businesses that are unable to keep up with innovations are simply overrun by those who are more efficient at this. This results in the dilemma that confronts all innovating companies in the 21st century: while innovation is critical for survival of a company, internal R&D is an inefficient approach to innovation. As a result of this dilemma, today?s innovative companies generally conduct little or no basic research on their own. They mostly innovate using the research discoveries of others. Some of these companies promote ideation forums on social networks to gain ?memes? for innovative ideas. This first step in the crowdsourcing innovation process can be expanded to include all the remaining steps of the innovation process, up to marketing and selling the product or service, as these all originate from ?crowdsourcing ideation?.

Suggested Citation

  • Ronald Jean Degen, 2009. "Social network driven innovation," Working Papers 47, globADVANTAGE, Polytechnic Institute of Leiria.
    • Handle: RePEc:pil:wpaper:47
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    File URL: https://globadvantage.ipleiria.pt/files/2009/10/working_paper-47_globadvantage.pdf
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    Cited by:

    1. Brown, Philip & Roper, Simon, 2017. "Innovation and networks in New Zealand farming," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 61(3), July.
    2. Jule B. Gassenheimer & Judy A. Siguaw & Gary L. Hunter, 2013. "Exploring motivations and the capacity for business crowdsourcing," AMS Review, Springer;Academy of Marketing Science, vol. 3(4), pages 205-216, December.

    More about this item

    Keywords

    social network driven innovation; ideation forums; crowdsourcing ideation; crowdsourcing innovation process; memes; mavens; connectors; influencers; nanostories; flash mobs; job to be done;
    All these keywords.

    JEL classification:

    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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