Activision’s 5×5 Innovation Challenge provides a Shark Tank-style contest to solve real-world business problems. This type of environment inspires employees to challenge their manner of thinking to produce solutions that would be applicable to issues real companies are facing every day. In addition to highlighting the strengths of individuals, these innovation challenges also foster team bonding and competitive education. Depending on your team’s budget, this could be an initiative that is free, or you could invest in monetary prizes. This is a fun and easy exercise to implement for companies that can organize their teams into groups easily.