Business Week published an interesting article by John Winsor titled CrowdSourcing: What It Means for Innovation in which he describes some examples of CrowdSourcing by LG, StarBucks etc.

The use of online communities for innovations now becomes mainstream as it allows companies to cut costs on innovations and to expand their options and resource reachness: Independent (or groups of) inventors are available worldwide and serve as a valuable alternative to design firms.

Innocentive logo
After I have posted about it here I have joined InnoCentive and I constantly enjoy the vibrant environment there.

Go ahead, pick your favorite crowdsourcing community and start sharing.

Update: FastCompany’s Joel Rubinson writes a great post about CrowdSourcing: Best Ideas Can Come From Anywhere

CrowdSourcing, originally uploaded by yanec.