As a company, where would you go looking for new ideas? Innovation?

The WSJ reports:

When companies try to come up with new ideas, they too often look only where they always look. That won’t get them anywhere.


The ideas are typically at the edge of a company’s radar screen, and sometimes a bit beyond: trends in peripheral industries, unserved needs in foreign markets, activities that aren’t part of the company’s core business. To be truly innovative, companies sometimes have to change their frames of reference, extend their search space. New ways of thinking and organization can be required as well.


InnoCentive.com is a site where people and companies look for help in solving scientific and business challenges. Posters of challenges sometimes offer cash rewards for solutions: Amounts have ranged from $5,000 to $1 million. The site began as an in-house tool for research scientists at Eli Lilly & Co. to help one another. Now it is independent, with Indianapolis-based Lilly as a founding shareholder.

Sometimes innovations arise when different departments talk to each other. But what’s the best way to start the conversation?

Many companies set up so-called communities of practice, which are typically internal Web sites where employees are encouraged to share knowledge and skills important to the company.



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