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Thursday, March 9, 2006
Innovate outside and in
Source: Harvard Business Review
For generations, Procter & Gamble fueled huge growth by innovating from within. They built global research facilities and hired the best talent in the world. But in 2000 they embraced a connect and develop model. Now the company collaborates with suppliers, competitors, scientists and entrepreneurs, scouring the world for technologies, packages, and products that P&G can improve, scale up, and market. R&D is now up nearly 60 percent and in the past two years P&G launched more than 100 new products, like Swiffer, Olay Regenerist, Crest SpinBrush, all innovated in part outside the company.
Posted by mwelch at 03:09 PM
