Article | MIT Sloan Management Review | Fall 2013

Spurring Innovation Through Competitions

by Alan MacCormack, Fiona Murray and Erika Wagner

Abstract

Alan MacCormack, Fiona Murray, and Erika Wagner examine the phenomenon of corporations using innovation contests. They write: "Companies are searching for better ways to identify and exploit novel solutions. Increasingly, they are discovering that many of the very best ideas lie outside their organizations, in an ecosystem of potential innovators who possess wide-ranging skills and knowledge."

Keywords: Competition; Innovation Strategy; Innovation and Management;

Citation:

MacCormack, Alan, Fiona Murray, and Erika Wagner. "Spurring Innovation Through Competitions." MIT Sloan Management Review 55, no. 1 (Fall 2013): 25–32.