Business Adopts “The Many are Mighty” Model for Innovation - The Minute

Mar 13, 2017 5:30 PM ET
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The big idea of James Surowiecki’s manifesto, The Wisdom of Crowds, is working its way into business strategy. That book explains how a diverse collection of independent individuals is more likely to make certain types of decisions—and predictions—better than individuals or experts. Its thesis has helped fuel an explosive growth in business partnerships and collaborations, in open competitions and crowdsourcing efforts.

All are aimed at finding better solutions to today’s problems by harnessing collective brainpower. The latest such project is Imagine Chemistry, a program launched by AkzoNobel in conjunction with KPMG, to “solve several real-life chemistry-related challenges.”

The effort includes many references to the model of the collective as its organizational framework: partnership, integrated approach, collaboration, and joint development. Says AkzoNobel, “’Imagine Chemistry’ is the latest example of doing innovation differently.” I'm John Howell for 3BL Media.

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