For Subscribers

5 Big Biz Think Tank Techniques

Larger companies are using innovation centers to encourage and implement new ideas. What can you learn from their tactics?

By Chris Penttila

Opinions expressed by Entrepreneur contributors are their own.

Inside a 24,000-square-foot warehouse in Romeoville, Illinois, a team of 70 McDonald's employees is hard at work testing new equipment ideas and procedures that could be implemented in McDonald's locations around the world.

The Romeoville facility is the company's Innovation Center and includes three McDonald's restaurants that can mimic the menu, volume patterns and operating systems of stores worldwide. A few thousand ideas were tested last year, and about 15 made the cut for deployment throughout the chain. "For a company like ours to remain appealing to customers around the world, we can't afford to relax and play it safe," says Ken Koziol, McDonald's senior vice president of worldwide restaurant innovation at the Romeoville facility.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Business News

'Ultra-Luxury' Real Estate Influencer Busted for Stealing $381,000 in COVID Relief Funds — To Fund Her Lavish Lifestyle

Daniela Rendon, 31, allegedly used fraudulently obtained money to lease a 2021 Bentley, rent a luxury apartment, and pay for cosmetic surgery.

Business News

Hermès Wins Trademark Case Against Artist Who Sold Birkin Bag NFTs

The case was deemed a critical examination of how a company can enforce intellectual property rights in relation to virtual assets.

Money & Finance

What Is NFT Art? Everything You Need To Know.

Are you interested in art and the metaverse? If so, you're in the right place. NFT art is the merging of both worlds. Keep reading to learn more.

Money & Finance

What Is a Dividend and How Do They Work?

Looking for a way to invest in a company? Dividend stocks might be a good place to begin. Read about what a dividend is and how it works.

Money & Finance

What Is Earnest Money and How Much Should You Pay?

Not sure what earnest money is or how much it will cost when buying a home? Discover the answers to these questions and more in our detailed guide.

Productivity

Here's How to Add Music to Your Instagram Story

Want to know how to add music to Instagram stories to maximize their appeal? Here are a few ways to add music to Instagram content.