Setting the Gears of Innovation in Motion
The Business Times website reported on a conference where the Research Director at Johnson & Johnson, Dr Loy Chong Jin shared how creating a collaborative business ecosystem using external innovation helped to accelerate new business opportunities. “It is all about relationship-building,” he said. Contrary to the commonly adopted notion of the survival of the fittest, J&J reached out to competing companies, on top of core supporter networks and partners, to come up with co-development programs that benefit not just the companies involved, but the entire industry as well.
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