In an era of increasingly fragmented value chains and the fusion of multiple technologies, it’s no longer sensible for an organization to think of all innovations emerging from within its four walls. Learn how some key innovations have to be outsourced to partners or even developed jointly with them.
- While Olay has long been a Procter & Gamble…beauty care brand, over a decade ago Olay Regenerist…became one of its most successful products.…This happened through a collaboration…with a French company, Sederma,…which developed a chemical compound…that helps rejuvenate and repair the skin from the inside.…P&G had no prior experience with this type of compound…and it would almost certainly not have developed…Olay Regenerist had it not been…for the partnership with Sederma.…
Procter & Gamble considers Olay Regenerist…one of many new products to emerge…from a relatively new approach to innovation,…that is collaborative innovation,…which has dramatically boosted the company's pace…of new product development.…Today, P&G openly spells out its innovation needs…on it's corporate website and invites anybody…to submit a potentially relevant idea for mutual benefit.…
Like P&G, a growing number of companies…are now embracing collaborative or open innovation.…This is the development of…new technologies, products, and processes,…
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- Fundamentals of innovation
- Fostering creativity without losing control
- Design thinking
- Lean startup
- Redefining customer value
- Digital transformation
- Social innovation
- Frugal innovation