Create Competitive Advantage with Innovation (Collection)

Chapter 6. The Creative Bazaar Model

Sometimes, instead of creating an innovative product from scratch, firms might choose to “shop” for innovative ideas available from the Global Brain. Shopping in the “Creative Bazaar”—the global marketplace of ideas, products, and technologies—is particularly useful when time to market is an important consideration, and when the firm’s external environment is rich with creative potential.

Shopping for innovation is not unlike shopping for food to satisfy your hunger. You basically have two very different options before you. You could go to a grocery store, buy the ingredients, and cook a meal yourself. Alternatively, you could order a fully cooked meal at a restaurant. Cooking a meal yourself would likely ...