“The cost of coordination is too high,” Lake said during the Digiday Brand Summit Monday. From there, Priceline overhauled the way it jumps into action when someone within the company has a new, innovative idea. The key, said Lake, is smart collaboration. “At a large company, innovation is akin to collaboration. If you can solve collaboration, you’ve actually solved innovation at scale,” said Lake. Change for the company’s innovation and collaboration approaches took place at Priceline about a year ago. Before that, whenever someone had a new idea, more time was spent on coordinating and communicating than was spent executing. This may sound familiar to companies that have to go through many departments — each that have their own internal sets of managerial behavior and organizational set ups — to get anything done. Get the full story at Digiday