One of the key topics at this year's Nortel Technology Conference is increased innovation acceleration.
P&G was given as an example of a company that is pioneering new approaches to innovation and R&D. Back in 2000 and faced with top line growth shortfalls, they made a strategic decision to shift how they innovate to more of a 'Connect and Develop C&D' approach. They went from a "not invented here- NIH" mentality ("from the labs") to a "proudly found elsewhere" mentality ("through the labs").
This has been highly successful for P&G, who
> went from nearly 15% to 35% of R&D being done by connecting to external resources;
> doubled their innovation success rate with 100 new products, and
> increased R&D productivity by 60%.
Product and service innovation is the engine of growth in many enterprises.
Whether you follow the traditional organic R&D approach or the innovative C&D approach used by P&G or anything in between, what is clear is that rich collaborative capabilities including UC and virtual environments in the future are required to fully leverage creative ideas wherever they are.
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