Innovation

1666 WordsMay 7, 20157 Pages
------------------------------------------------- Innovation at proctor and gamble Pritesh Tarte- 11906296 ------------------------------------------------- Innovation at proctor and gamble Pritesh Tarte- 11906296 Assignment 1 Assignment 1 I INDEX 1.Introduction to Proctor & Gamble ……………………..…….……………….3 2. Innovation at Proctor & Gamble……………………………………………...4 3. Connect & Develop Program & Open Innovation……………………………5 4. Voice of Customer……………………………………………………………6 5. Conclusion……………………………………………………………………7 6. References……………………………………………………………………8 1. Introduction to Proctor & Gamble ( P&G) William proctor and James Gamble established Proctor and Gamble in 1837 as a soap and…show more content…
For instance the company introduced its brand name Tide detergent in the market , at that time Swash was its only competitor but the market of tide grew as it provided better advantages such as better cleaning power, good smell, soft on skin and at a lower prices than it competitor. P& G realized that in order to increase the innovation output they needed collaboration with the experts from the world. They created a program called Connect and Develop which helped them to deliver innovation faster and cheaper to all areas of business. Word Count: 311 3. Connect & Develop Programme and open Innovation Open innovation is the exchange of ideas and knowledge outside the company for mutual benefit of both the parties. It requires companies to develop an adaptive capability of using external knowledge (Stage-Gate process). The open innovation is now being adapted in the public as well as private sector.. There are three types of open innovation * Outside- In process It focuses on expanding firm’s knowledge base through integration of external resources. * Inside-Out Process It places firm’s assets outside its own walls, transferring its idea to outside organization. * Coupled Process It focuses on combining outside in an inside out. P&G was aware of the fact that most of the ideas were generated from collaboration among their internal business units. In the era of 2000 P&G
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