The Trouble With Your Innovation Contests
New research shows that the way many organizations conduct innovation contests needs to be improved. The biggest takeaway: Leaders need to design their contests to match their organization’s hoped-for outcomes. Choices like the number of prizes and the identity of judges, for example, will affect the number and diversity of participants, the time they invest, and the quality of their ideas. Here’s how to choose among the possible approaches based on your organization’s goals.