CONVERGENCE:
Generally convergence is associated with technologies and information, but there is much more to it in form of multi-skilled and multidisciplinary teams which can be converged and made to work towards a common goal. The isolated departmental structure within companies is a history now; various verticals today collaborate and communicate seamlessly to achieve the targets.
An excellent example of this is smart phones which are catching the eyeballs of customers because it is providing them with features of a PC, a music player, a cellphone, a camera and many more digital devices.
CLOUD:
There had been a lot of buzz about the word Cloud. We can define it as a digital world which is independent of any particular technology, device, platform and operating system. Cloud Computing will not only benefit medium and large size companies, but it will also act as a boon for the small and upcoming companies, reason being that companies will not have to put in the large upfront cost to set up an IT infrastructure instead they can directly use the IT infrastructure of a third party and pay it on the usage basis. As part of the same trend we can expect to see rapid growth in software as a service – hosted on other company’s servers.
CROWD:
It has been wisely said that: ‘A person is never perfect but a team is’. Gone are the days when innovation was restricted within the boundary of a company and was responsibility of a person or a department. Today, we are living in an era of open innovation where boundaries of organizations are blurring with each passing day. This mindset of open innovation can be termed as crowd-sourcing. Companies like Wikipedia and Twitter are harnessing the intellectual power of communities to solve complex problems fast in profitable ways. In future, crowd-sourcing will be largely applied to fields like computing, innovation in green technology, and also in health.
CONTROL:
Corporations can only embrace the above mentioned three Cs by building much more sophisticated controls to monitor their performance. Companies should properly define various processes which will help them to come up with a controlled innovation environment.


