CPI Open Innovation & Crowdsourcing 2

Question 1

Which platform is a classic example of a crowdsourcing marketplace where companies post innovation challenges with cash prizes?

Accepted Answer

InnoCentive

Answer

InnoCentive (now Wazoku) is a pioneering platform where organizations post challenges and a global solver community competes for prizes.

Question 2

In open innovation, what does 'inbound open innovation' primarily involve?

Accepted Answer

Acquiring external knowledge to enhance internal R&D

Answer

Inbound open innovation refers to the practice of leveraging external sources—such as partners, startups, or the public—to bring knowledge and ideas into the firm's innovation process.

Question 3

A company runs a crowdsourcing campaign and receives 10,000 ideas but struggles to evaluate them efficiently. This is known as:

Accepted Answer

Contribution overload

Answer

Contribution overload occurs when the volume of crowdsourced submissions exceeds an organization's capacity to effectively review and integrate them.

Question 4

Which concept describes the strategy of making a company's internal R&D results available to outside parties, including competitors, to create new revenue streams?

Accepted Answer

Outbound open innovation

Answer

Outbound open innovation involves deliberately sharing or commercializing internal knowledge, IP, and technologies with external entities.

Question 5

What is the primary risk associated with relying heavily on external contributors in open innovation?

Accepted Answer

Loss of proprietary knowledge or IP leakage

Answer

Heavy reliance on external contributors increases the risk that sensitive proprietary knowledge or intellectual property may be inadvertently disclosed or appropriated.

(CPI) Certified Professional Innovator Practice Test

(CPI) Certified Professional Innovator Practice Test

CPI Open Innovation & Crowdsourcing 2