I think a good idea would be to host an innovation challenge.
They are already bringing in outside consultants from McKinsey, but in this day and age, how about turning to the crowd for help? If they posted significant cash prices (say $1m total) and let their users vote on the best ideas, I bet they could find some fresh directions.
Also bet it would cost a fraction of what they pay McKinsey.
Edit: In fact, why stop there. How about making it a quarterly challenge. With follow-ups on what ideas they decided to work on and progress reports. Make Yahoo the People's company. Just my 2 cents.
They are already bringing in outside consultants from McKinsey, but in this day and age, how about turning to the crowd for help? If they posted significant cash prices (say $1m total) and let their users vote on the best ideas, I bet they could find some fresh directions.
Also bet it would cost a fraction of what they pay McKinsey.
Edit: In fact, why stop there. How about making it a quarterly challenge. With follow-ups on what ideas they decided to work on and progress reports. Make Yahoo the People's company. Just my 2 cents.