In true McKinsey style the authors have capture the essence of hackathons and an approach to run your own.
Vital reading if your nervously hearing all your competitors are running hackathons and your not quite sure why or whether you should be too.
The “hackathon” has become one of the latest vogue terms in business. Typically used in reference to innovation jams like those seen at Rails Rumble or TechCrunch Disrupt ... Yet hackathons aren’t just for the start-up tech crowd. Businesses are employing the same principles to break through organizational inertia and instill more innovation-driven cultures.
http://www.mckinsey.com/Insights/Innovation/Demystifying_the_hackathon
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