#049 - Outsourcing Innovation

With budgets tight, more companies are hiring third parties to come up with new ideasWHEN should companies try to come up with new ideas themselves—and when should they give the job to outside experts?

It’s a question many companies are facing these days. As budgets tighten, businesses are outsourcing research and development and the creation of new products as a way to slash costs, speed development time and tap into top talent outside the company.

But it can be tough to strike the right balance between internal and external efforts at innovation. How much outsourcing is too much, or too little? What amount produces the best results?

BUSINESS INSIGHT

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To find an answer, we studied the sourcing habits and innovative performance of 359 companies based in the U.S. and reviewed 

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