MAKING INSPIRATION ROUTINE

Procter & Gamble's (P&G) diversification, complexity and bureaucracy can become innovation's enemies. Small companies may seem like backyard swing sets by comparison, but backyard swing sets are where children's imaginations roam free. This publication asked A.G. Lafley, chair...

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Bibliographic Details
Published in:Inc. (Boston, Mass.) Mass.), 2008-06, Vol.30 (6), p.98
Main Authors: Lafley, A G, Charan, Ram
Format: Magazinearticle
Language:English
Subjects:
Guidelines
Innovations
Market strategy
Processes
Strategic planning
Online Access:Get full text
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Summary:Procter & Gamble's (P&G) diversification, complexity and bureaucracy can become innovation's enemies. Small companies may seem like backyard swing sets by comparison, but backyard swing sets are where children's imaginations roam free. This publication asked A.G. Lafley, chairman and CEO, and Ram Charan, adviser to such business leaders as Jack Welch and Robert Nardelli, to choose an industry for its imagined company, and the swing-set reference put them in mind of toys. For this exercise, toys also have the advantage of being a consumer product that P&G is not involved in. Their goal is to design processes that will ensure that their growing company innovates repeatedly and reliably. The following steps in achieving their goal: 1. Select the strategy. 2. Connect to customers. 3. Generate ideas. 4. Select an idea. 5. Prototype and test. 6. Go to market. 7. Adjust for growth.
ISSN:0162-8968