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Edison in the Boardroom Revisited: How Leading Companies Realize Value from Their Intellectual Property, Second Edition by Patrick H. Sullivan, Suzanne S. Harrison

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Looking Forward

As P&G looks toward the future, it aims for Open Innovation to play an ever growing role in accelerating innovation and delivering value to its consumers. In fact, the company’s current Chairman and CEO, Bob McDonald, has taken Lafley’s C+D goal to a new level.

He is calling for C+D to triple its contribution to P&G innovation by delivering $3 billion toward the company’s annual sales growth through Open Innovation. He also is calling for P&G to be recognized as the Partner of Choice for innovation partnerships.

“Connect + Develop has created a culture of open innovation that has already generated sustainable growth; but we know we can do more,” McDonald said when he announced the new goals in October 2010. “We want the best minds in the world to work with us to create big ideas that can touch and improve the lives of more consumers, in more parts of the world, more completely.”

As it has since its inception in the mid-1990s, the organization leading the work continues to grow, change and morph to meet the challenge and shifting opportunities.

“For us, this continues to be an exciting journey,” Weedman said. “We are learning as we go, and continually seeking ways to improve and tap into new opportunities. As we move forward, we are looking to expand our footprint and outreach globally, ensuring we’re tapping the best minds regardless of their location. This means we need well-rounded and trained C+D experts in key regions around the world. We are doing this already, ...

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