Similarities Between Beiersdorf Open Innovation Strategy And The P & G Model: Connect And Development

Innovations form the main sources of competitive advantages and are always of significance for the growth of a company. Companies or organizations put their greater efforts in improving their performance by finding new ideas and knowledge on the best way of beating their competitors and therefore give satisfaction to their customers. There are various factors involved in the innovation design system which can be either internal or external.

Alongside the entrepreneur spirit, Innovation is the process of taking new ideas and implementing them into the market. Key word being “new”, an innovation can be sometimes viewed as the application to better solutions that meet new demand-requirements, inarticulated needs or existing market needs. Innovative ideas range from: goods, services, products, processes, services, technologies or ideas that create value for which customers will pay for. For an idea to be an innovation, it must be replicable at an economical cost and must satisfy a specific need. This means is that one must be ready and willing put their new idea to the test. On the other hand, there is recognition that “innovation is also critical to cultural, environmental, social, and artistic progress as well” (Bullinger, 2006). With this stated, high-tech innovation is ultimately the reason why we can be thankful for the many new conveniences of the 21st century. Although we might see the forefront of innovation being very prominent in today’s world, innovation is truly nothing new. From the start of modern man times, innovative ideas have paved the way for civilization to advance and develop into what we are today and at the same time, we have barely begin to chip away at the tip of the iceberg of our true human potential. Some scholars believe that innovation is a

When a certain point is reached regarding a company’s success, a set of different opportunities arise and partnerships may unfold. However, with every possible strategy available, risks and benefits also come into play; without discarding any of them beforehand, every option is a strong candidate until a final decision is made. In this case study we will analyze the current business strategy pertaining

Innovation and innovation strategies are critical to keeping companies competitive in their chosen fields of endeavor. Consumers benefit significantly from the availability of and access to the latest in technology. This paper

A SWOT (strengths, weaknesses, opportunities, threats) analysis exists for Kudler. This analysis provides insight to Team B of how to identify and manage Kudler's internal and external driving forces in working toward innovation. Such forces include environment, supply and demand, and organizational behavior and strategy.

Invention is the result of a long study, research, and experimentation (Innovation, n.d.); Innovation is “the discovery and the execution of pioneering ideas that create value” (Greco, 2011), in other words, new application of known concepts. A practical example of invention is the alkaline battery that provided a light-weight, small, and portable power source; innovation applied this concept to anything possible from communication devises, mecanich and construction tools, and even toys. Technical workstream leaders understand that innovators are today’s competitors reducing times, and maximazing profits with new techniques; but inventors have the potential to reshape the landscape of today’s markets leaving dominant companies out of bussiness. Who remembers door-to-door salesmen or “dear John”

Closed innovation implies that companies try to develop new products and processes based on the idea that the company itself has the best possible knowledge and resources for innovation. (CHRESBROUGH, 2003 p228)

This is the first case study report for the course ED5317: Strategies for Managing Innovation that is based on the Harvard Business School case titled ‘Design Thinking and Innovation at Apple’. The report consists of the following question:

HBR Article Presentation (Team-based) (purpose: to learn important theories, concepts and best practices relating to innovation and new product development)

Exploratory innovation compared to pioneering orientation and market pioneering should be seen as a balanced approach of both concepts. It tries to explain the internal as well as the external environment by focussing on a radical innovation of its product but at the same time also respecting the market demand and emerging customer

Codman & Shurtleff is a subsidiary of Johnson & Johnson which supplied hospitals and surgeons worldwide with over 2,700 products for surgery. Codman is now facing a profit shortfall of two million. A series of actions was decided in order to recover the shortfall, while the decisions made were somehow not aligned with J&J’s group philosophy. Codman managers decided to cut budgets of R&D expenditure which might have negative effects on the long term performance of the firm. The management of Codman ought to choose a better way that has a positive effect on operations in the long run and use a formal process, “stage gate”, in new product development.

Abstract: This report explores P&G's "Connect and Develop" open innovation initiative. Its focus is to analyse this innovation strategy in the context of the formal academic theory, other P&G's programmes and the company situation. Its objective is to understand the impacts, challenges and problems of implementing a large open innovation initiative inside a corporate giant such as P&G. Keywords: Procter & Gamble, P&G, Open Innovation, Connect and Develop, Innovation Networks

Tidd and Bessant (2009) argued that “Unless an organization is able to move into further innovation, it risks being left behind as others take the lead in changing their offerings, their operational processes or the underlying models that drive their business”.

Bessant and Tidd (2007) are of the opinion that innovation is the translation of conceptualised ideas into commercially profitable

2) Chesbrough, H., W., (2003). The era of open innovation. MIT Sloan Management Review 44 (3): 35–41.