Instituting External Innovation
A.G. Lafley popularized this strategy when he put in place a key metric at P&G; stating he wants 50% of innovation to come from outside the company. Sometimes ready-made solutions that can be acquired or collaboration with experts is the optimal method of developing innovation. An external innovation program gives clients that option to consider innovation both inside and outside their organization.
Many of the traits necessary for a successful program are found in entrepreneurship and private equity. We leverage our experience in these fields to custom design an innovation blueprint and the right partnerships and relationships with external sourcing. In addition, we will setup targeting, screening and other key processes necessary to jumpstart your external innovation program and connect you with a network of other companies who are already engaged in these activities. |