Open innovation is an approach to innovation in which organizations seek and use ideas from outside of the organization to develop new or improved products, services, processes, or business models.

The benefits of this approach include increased access to new technologies and markets, increased speed of product development and time-to-market, reduced costs, reduced risk of market failure due to lack of in-house expertise.

It is a way of making sure that the company stays on top of the latest trends and developments in the industry.

Open innovation can be achieved by licensing products or developing them with third-party manufacturers. It's also possible to outsource product development to inventors and companies who specialize in certain fields.

Your brand is your identity and it needs to be consistent across all platforms for people to take notice of you and know who you are.

Branding is a marketing strategy that helps you create a unique identity for your product or service. It is the process of creating a name, symbol, slogan and design that identifies and differentiates your company from others.

Branding is important because it builds trust with customers and provides confidence to potential customers. The more you invest in your branding, the more likely people will remember your company and what you offer. Customers are more likely to buy from a company they know and trust then from one they don’t know anything about. Branding allows you to build relationships with your audience, which can eventually turn them into loyal customers.

In today’s world where there are so many companies competing for attention, having a strong brand is essential for success.