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NASA’s Open Innovation Strategy: NASA launched 300 projects across 32 platforms, accessing 120 million freelancers. This approach led to 92% of projects meeting or exceeding expectations, 80% cost savings, and reduced procurement time from 9-12 months to 3-4 weeks. This strategy helped NASA innovate rapidly and cost-effectively.
UST’s Fractionalized Talent Approach: UST, a transformation consultancy, faced delays in a client website build due to lack of specific expertise. They split the project between two freelance experts – one for advanced geometry and another for Java library training. This strategy completed the project in 3 weeks, saving $2 million in revenue.
By Matthew Mottola | SEP 23, 2024
Read the original article at FORBES
HBR – Managers in service businesses face unique strategic challenges compared to product-oriented businesses. This article outlines key questions managers should consider, such as understanding their specific service type, defending against competitors, optimizing operations, pricing strategies, developing new services, and making strategic acquisitions. Service businesses require tailored approaches to address these strategic areas effectively.
