Innovation: A New Look

By • on June 9, 2021

The Global Finance website reported that while copying big tech verbatim doesn’t make sense, there are a number of potential innovation models that large incumbent companies might consider. One strategy is to give up trying to invent in-house, and instead commission research globally. Procter & Gamble moved to an open innovation model, giving up their own Research and Development, and it worked well for them. The strategy makes it easier for a company to cut its losses when things don’t work out, overcoming a common problem for internally developed projects.

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