More companies realize that they need to open up in order to innovate. Procter & Gamble have known this for quite some time already, having implemented something called “Connect and Develop”. Their new, innovative products are often a result of external contributions, and also often in collaboration with their own R&D teams.
They have worked hard on shifting mindsets within the company from resistance to ”not invented here” to ”proudly found elsewhere”. This is important, as novel ideas often come from combining external information with ones own.
A company may be large with vast resources, but admitting that they also need to look elsewhere in order to truly deliver innovative products is a positive and important step hopefully more companies will pursue.
Read more about ”Connect and Develop” here
Video credits: Procter & Gamble