Discuss Proctor Gambles new model for innovation How did th

Discuss Proctor & Gamble’s new model for innovation. How did they use technology to their advantage?

Solution

Proctor & Gamble has developed a new model for innovation in their products. Instead of general R&D using in-house team, they has developed C&D (Connect and develop) model. This model provides a chance to the company for open innovation. In this model the company has developed a website. On this website they ask for the ideas of their customers, suppliers, and research institutes for different product categories. A specialized team of the company works on these ideas. Monetary payments are fixed for the best ideas. This strategy has helped the company in increasing their sales volume, shareholders return, and profits.

They use technology and internet to collect more ideas and information from the customers, suppliers, and research institutes. Knowledge management tool enables the company to collect, organize and utilize the collected ideas. Furthermore, information and communication technologies are also used by P&G for using the model effectively.