International Conference & Carnival on Management Systems (InCaMS) 21 Sources of Innovation in the Industry Dynamics of Technological Innovation
Case of Procter & Gamble’s
Mulyaningrum
Universiti Teknikal Malaysia Melaka mulyaningrum@utem.edu.my
Abstract
Innovation can arise from many different sources. The general sources of innovations are different changes in industry structure; in market structure; in local and global demographics; in human perception, mood and meaning; in the amount of already available scientific knowledge, etc. Innovation can also come from research efforts of universities, government laboratories and incubators, or private nonprofit organizations. One primary engine of innovation is firms. Firms are well suited to innovation activities because they typically have greater resources than individuals and management system to marshal those resources toward a collective purpose. Firms also face strong incentives to develop differentiating new products and services, which may give them an advantage over nonprofit or government-funded entities. Procter & Gamble‟s (P&G) is a global company that has a successful innovation for their products that consuming by most people in the world. This company consistently innovates in every area business sector where they brands touch consumers‟ lives: the package and product, the shopping experience, the in-home product usage experience, and every aspect of communication. P&G also create innovative business models and organizational structures whereby making the competitive advantages among the competitors. By innovating so broadly, P&G get to see more innovation opportunities and to leverage more innovation resources than more narrowly focused competitors.
Keywords: innovation, industry dynamic, technological innovation, innovation management
1. INTRODUCTION
International Conference & Carnival on Management Systems (InCaMS) 22 For industrial organizations, innovation is the primary engine which provides both exceptional opportunities and steep challenges. While innovation is a powerful means of competitive differentiation, enabling firms to penetrate new markets and achieve higher margins, it is also a competitive race that must be run with speed, skill, and precision. It is not enough for a firm to be innovative - to be successful it must innovate better than its competitors. Innovation has generated many insights about how innovation affects the competitive dynamics of markets, how firms can strategically manage innovation, and how firms can implement their innovation strategies to maximize their likelihood of success.
Innovation can arise from many different sources. It can originate with individuals as in the familiar image of the lone inventor or users who design solutions for their own needs. Innovation can also come from the research efforts of universities, government laboratories and incubators, or private nonprofit organizations. One primary engine of innovation is firms. Firms are well suited to innovation activities because they typically have greater resources than individuals and a management system to marshal those resources toward a collective purpose (Schilling, 2010). Firms also face strong incentive to develop differentiating new products and services, which may give them an advantage over nonprofit or government-funded entities.
International Conference & Carnival on Management Systems (InCaMS) 23 Innovation process is of a complex nature and often poorly understood. Virtually all innovations, certainly major technological innovations such as pharmaceutical and other products, occur within organizations. The management of innovation within dynamic industry forms the focus of this study. The identification of the source of innovation and issues that affect the management of innovation within Procter and Gamble Company is addressed.
2. PROBLEM STATEMENT
In the world, P&G‟s company is widely recognized as the industry‟s global innovation leader. Nearly all organic sales growth over the past decade has come from new brands and or improved products. They invest more than $2 billion a year in Research &Development where by nearly twice the level of their closest competitor. In order to achieve the main goal of P&G„s company, what are the strategic innovation for improving the profile of Company‟s products and operations?
3. OBJECTIVE OF STUDY
The purpose of this study is explained the meaning and nature of innovation management in Procter & Gamble Company with specific analysis as below:
a. What are new innovations of P&G Company?
b. What is strategy of P&G‟s company to deliver innovation as the Long Term Environmental Sustainability Vision?
International Conference & Carnival on Management Systems (InCaMS) 24 4. METHOD OF STUDY
The study is based on a qualitative approach that serves of the following purposes (Leedly, 2005): 1. Description; data can reveal the nature of certain situation, settings, processes, relationship,
systems, or people that related to the objectives of these study.
2. Interpretation; data enable to gain new insights about a particular phenomenon on sources of innovation in the industry dynamics of technological innovation, and discover the problems that exist within that phenomenon.
3. Evaluation; data provide a means through which a researcher can judge the effectiveness of particular policies and practices of technological innovation sources regarding the industry dynamics.
Data collected by exploration that serves purposes of study as well. The exploratory phase search strategy usually comprises of the following (Cooper, 2011):
1. Discovery and analysis of secondary sources, that can be done through:
a) Published studies, usually focused on the result of surveys or on case studies featuring one or a few incidents
b) Document analysis
c) Retrieval of information from organization‟s databases
2. Group discussion with individuals involved with the problem or its possible solutions, including informal groups, as well as formal techniques such as focus group or brainstorming among student in the class of Strategic Management of Technological Innovation at Faculty of Technology Management and Technopreneuership _ Universiti Teknikal Malaysia Melaka (UTeM).
International Conference & Carnival on Management Systems (InCaMS) 25 linked to old biases about qualitative research such as subjectiveness, nonrepresentativeness, and nonsystematic design (Cooper, 2011).
5. LITERATURE REVIEW
1. The Importance of Technological Innovation to Industry
Most writers distinguish innovation from invention by suggesting that innovation is concerned with the commercial and practical application of ideas or invention. Invention, then, is the conception of the idea, whereas innovation is subsequent translation of the invention into the economy. The conception of new idea is the starting point for innovation, so that innovation can be the practical implementation of an idea into a new device or process. If the push for innovation has raised the competitive bar for industries, its net effect on economic growth is more clearly positive. Innovation enables a wider range of goods and services to be delivered to people worldwide. It has made the production of food and others necessities more efficient.
Industry must be able to adapt and evolve if they wish to survive. Businesses operate with the knowledge that their competitors will inevitably come to market with product that changes the basis of competition. The ability to change and adapt is essential to survival. Today, the idea of innovation is widely accepted. It has become part of culture. But even though the term is now embedded in our language, to what extent do we fully understand the concept? Innovation has long been argued to be the engine of growth almost regardless of the condition of the larger economy. Innovation has been a topic for discussion and debate for hundreds of years. Nineteenth-century economic historians observed that the acceleration in the economic growth was the result of technological progress. However, little effort was directed towards understanding how changes in technology contributed to this growth.
International Conference & Carnival on Management Systems (InCaMS) 26 the wave of economic growth. Kondratieff was unfortunately imprisoned by Stalin for his view on economic growth theory, because they conflicted with those of Marx. Kondratieff argued that they would experience waves of growth and decline. Abernathy and Utterback in 1978 contended that at the birth of any industrial sector there is radical product innovation which is then followed by radical innovation in production process, followed by widespread incremental innovation. This view was once popular and seemed to reflect the life cycles of many industries (Trott, 2008).
Technological innovation is the act of introducing a new device, method, or material for application to commercial or practical objectives. Sometimes technological innovation results in negative externalities. Production technologies may create pollution that is harmful to the surrounding communities; agricultural and fishing technologies can result in erosion, elimination of natural habitats and depletion of ocean stock. However, technology is, in its purest essence, to solve our problem and pursue our goals. Technological innovation is thus the creation of new knowledge that is applied to practical problems. Sometimes this knowledge is applied to problem hastily, without full consideration of the consequences and alternatives, but overall it will probably serve us better to have more knowledge than less.
International Conference & Carnival on Management Systems (InCaMS) 27 2. Types and Patterns of Innovation
Different types of technological innovations offer different opportunities for organization and society, and they pose different demands upon producers, user, and regulators. While there is no single agreed-upon taxonomy to describe different kinds of technological innovations, these dimensions are useful for understanding some key ways that one innovation may differ from another. Different dimensions have been used to distinguish types of innovation. Some of the most widely used dimensions include product versus process innovation, radical versus incremental innovation. The explanation of that type of innovation is below (Schilling, 2010; Bruton & White, 2011; Trot, 2008):
Product innovation:
Product innovations are embodied in the outputs of an organization- its good or services. For most organizations, product innovations are center of their research and development (R&D) efforts. Although R&D can occur in a separate unit of the organization, today it is more often spread throughout the firm. For instance, Honda‟s development of a new hybrid electric vehicle is a product innovation.
Process innovation:
International Conference & Carnival on Management Systems (InCaMS) 28 New product innovations and process innovations often occur tandem. New products may enable the development of new process. For example, the development of advance workstations has enabled firms to implement computer-aided-manufacturing processes that increase the speed and efficiency of production. Product innovation for one firm may simultaneously be a process innovation for another, like United Parcel Service (UPS) help a customer develop a more efficient distribution system; the new distribution system is simultaneously a product innovation for UPS and a process innovation for its customer.
Radical innovation:
Radicalness of innovation might be conceived as the combination of newness and the degree of differentness. Radical technology could be new to the world, new to an industry, new to a firm,
or new merely to an adopting business unit. A technology could be significantly different from existing products and processes or only marginally different. The most radical innovations would be new to the world and exceptionally different from existing product and process. Radical technology development causes a dramatic change in the way things are done. For instance, the initial introduction of computers altered the way information was processed and stored in organizations and by individuals. The automobile was a radical technology when introduces. It provided an extreme change in modes of transportation. IPhones and Blackberries are widely changing many industries by speeding complex information to other locations such as heart monitor information instantaneously to multiple doctors and medical centers. These radical technologies established a new functionality and a new way of doing things in business and society.
International Conference & Carnival on Management Systems (InCaMS) 29 including technical feasibility, reliability, cost, and demand. Finally, radicalness of an innovation is relative, and may change over time or with respect to different observers.
Incremental innovation:
Incremental or continuous innovation might not be particularly new or exceptional; it might have been previously known to the firm or industry, and involve only a minor change from existing practices. An example of continuous technology development is the personal computer. It seems personal computer become lighter and more mobile every year. These changes in technology are not a constant progression; instead, they happen over relatively short period of time. Therefore, they are viewed as continuous improvement in the technology by consumers because there are no major changes that occur at one time. The progression is designed to change an existing technology but not to change its functionality. The innovation is aimed at improving performance, function, and/or quality at a lower cost.
In between on radical and continuous technology, is a next-generation technology. These changes in technology and their impact on society are more than the small step experienced in continuous change, but they are not revolutionary either. For example, before the silicon chip, computers used tubes for connectivity and then wires and contacts. These were awkward and much less dependable than the silicon chip.
Both the rate of technology‟s performance improvement and the rate at which the technology is adopted in the marketplace repeatedly have been shown to an s-shape curve.
International Conference & Carnival on Management Systems (InCaMS) 30 Figure 1 exposes, when a technology‟s performance is plotted against the amount of effort and money invested in technology, it typically shows slow initial improvement, then accelerated improvement, then diminishing improvement. Performance improvement in the early stages is slow because the fundamentals of the technology are poorly understood, then accelerates as understanding increases. Furthermore, tapers off as approaches limits.
3. Source of Innovation
International Conference & Carnival on Management Systems (InCaMS) 31 Figure 2. Source of innovation as a system
Individual creativity:
An individual‟s creative ability is a function of his or her intellectual abilities, knowledge, and style of thinking, personality, motivation, and environment. The most important intellectual abilities for creative thinking include the ability to look at problems in unconventional ways, the ability to analyze which ideas are worth pursuing and which are not, and the ability to articulate those ideas to others and convince others that the idea are worthwhile. Individuals are more likely to be creative if they work on things they are genuinely interested in and enjoy. To fully unleash an individual‟s creative potential often requires an environment that provides support and rewards for creative ideas.
Organizational creativity:
International Conference & Carnival on Management Systems (InCaMS) 32 idea management system whereby employees e-mail their ideas for new products and processes to a company-wide database where every employee can view the idea, comment on it, and rate it.
Research and development by firms:
One of the most obvious sources of firm innovation is the firm‟s own research and development efforts. Studies show that firms consider their in-house R&D to be their most important source of innovation. This perception also appears to be supported by evidence on R&D spending and firm sales has strong positive correlation with its sales growth rate, sales from new products, and profitability.
Universities and government-funded research:
Many universities encourage their faculty to engage in research that may lead to useful innovations. Typically the intellectual property policies of a university embrace both patentable and unpatentable innovations, and the university retains sole discretion over the rights to commercialize the innovation. If an invention is successfully commercialized, the university typically shares the income with the individual inventors. To increase the degree to which university research leads to commercial innovation, many universities have established technology transfer offices.
Governments of many countries actively invest in research their own laboratories, the formation of science parks and incubators, and grants for other public or private research entities. The U.S government was the main provider of research and development funds. The U.S Small Business Administration manages two programs that enable innovative small business to receive funding from federal agencies such as Department of Defense, Department of Energy, and others. Under these programs, agencies award grants of up to $850,000 to small business to help them develop and commercialize a new innovation.
Private nonprofit organization:
International Conference & Carnival on Management Systems (InCaMS) 33 organizations do both in-house research and development and fund the development efforts of others. Private nonprofit organizations, such as private research institutes, nonprofit hospitals, private foundations, professional or technical societies, academic and industrial consortia, and trade associations, also contribute to innovation activity in a variety of complex ways.
There is a growing recognition of the importance of collaborative research and development networks for successful innovation. Such collaboration include joint venture, licensing and second-sourcing agreements, research associations, government-sponsored joint research program, value-added networks for technical and scientific interchange, and informal network. Collaborative research is especially important in high-technology sectors, where it is unlikely that a single individual or organization will posses all of the resources and capabilities necessary to develop and implement a significant innovation.
6. ANALYTICAL FRAMEWORK
Improving a firm‟s innovation success rate requires a well-crafted strategy. A firm‟s innovation projects should align with its resources and objectives, leveraging its core competencies and helping it achieve its strategies intent. A firm‟s organizational structure and control systems should encourage the generation of innovation ideas while also ensuring efficient implementation. A firm‟s new product development process should maximize the likelihood of projects being both technically and commercially successful. To achieve these things, a firm needs to do an in-depth understanding of the dynamic of innovation, how innovation occurs in an industry, and why some innovations rise to dominate others. It will be looked at the source of innovation, where does great idea come from.
International Conference & Carnival on Management Systems (InCaMS) 34 distinguish how one project is different from another and the underlying factors that shape the project‟s likelihood of technical or commercial success.
Figure 3. Analytical framework of the study
The further step is the basic strategic analysis tools managers can use to assess the firm‟s current position and define its strategic direction for the future. What are the firm‟s sources of sustainable competitive advantage? To analyze the internal environment, firms often begin by identifying strengths and weaknesses in each activity of the value chain. For the next study, the firm can then identify which strengths have the potential to be a source of sustainable competitive advantage. Firm identifies its core competencies. Core competencies are integrated combinations of abilities that distinguish the firm in the marketplace. Several core competencies may underlie each business unit, and several business units may draw upon the same sore competency.
7. FINDING AND DISCUSSION
International Conference & Carnival on Management Systems (InCaMS) 35 raise the speed of innovation for competitors, triggering an industry wide shift to shorten development cycles and more rapid in new product introductions.
a. New innovations of Procter & Gamble (P&G) Company
For P&G, management innovation has been an important driver of its enduring success. It pioneered brand management in the 1920s, it was one of the first companies to implement a transnational organization in the late 1980s in R&D, and it is now leading the world in its approach to open innovation. And the beauty of such innovations is that they are sufficiently deep-seated that competitors take a long time to catch up. (http://www.managementlab.org/ files/u2/pdf /case%20studies/procter.pdf). Procter & Gamble seeks to make the most meaningful
impact possible in five target areas, such as: products, operations, social responsibility, employees and stakeholders.
Sustainable Product Innovation:
P&G‟s packaging innovations have proven that small changes add up fast. The company has cut back on waste through surprisingly simple packaging makeovers, like producing an ultra-concentrated liquid laundry detergent, eliminating bulky “clam shell” cosmetic packaging and fitting more pills into a single blister pack. In fact, simply altering the design of the pump on Olay Total Effects anti-aging moisturizers is expected to save 800,000 pounds of plastic per year – the weight of a Boeing 747.
Making Procter & Gamble Plants Greener:
International Conference & Carnival on Management Systems (InCaMS) 36 Improving the Lives of Children:
P&G‟s Live, Learn & Thrive initiative has reached more than 135 million children, helping them gain access to medical care, clean drinking water and education. Through P&G brands like Tampax, Pampers and Safeguard, this initiative has built sanitation facilities in rural China, provided puberty education to girls in the developing world and much more. The Children‟s Safe Drinking Water (CSDW) program uses P&G‟s PUR water purifying technology to turn potentially deadly water into clean, drinkable water. Since the program began in 2004, 1.6 billion liters of clean water have been delivered in more than 50 countries, saving more than 8,300 lives.
Helping Employees Think Green:
Of course, for P&G‟s sustainability to be truly successful, every employee must be dedicated to making greener choices both at work and at home. P&G drives employee engagement with the “Take the R for Tomorrow” program, urging each individual to take responsibility for the next step. A weeklong Earth Day celebration in 2008 was just the beginning. Employees aren‟t just taught about opportunities to go greener or asked to participate in recycling programs; they‟re encouraged to take an active role in meeting P&G‟s sustainability goals. An Idea Challenge produced 130 great proposals for reducing energy, water and paper while the Employee Sustainability Challenge translated the green actions of employees into a two-million-liter donation through P&G‟s Children‟s Safe Drinking Water program.
Transparency with Stakeholders:
P&G isn‟t keeping its environmental practices behind closed doors. Its annual sustainability report is just one way in which the company seeks to engage in an ongoing conversation with its stakeholders about important issues like climate change, animal welfare and the responsible procurement of resources like wood pulp and palm oil. P&G invites stakeholders to play a part in finding answers to these pressing issues, and provides assurance of the many ways in which sustainable action can benefit the company financially.
International Conference & Carnival on Management Systems (InCaMS) 37 According to target areas of innovation on P&G, it can be defined that innovation means as the process whereby new and improved products, processes, materials, and services are developed and transferred to a plant and/or market where they are appropriate. It is important to note that from those result there are different types of innovations. There can be newness of the product or process, newness of the usage, or a combination among them. The most innovative approach is the development of a new product or process to solve a new problem or usage.
b. The Strategy of P&G’s company to deliver innovation as the Long Term Environmental Sustainability Vision
To achieve the main goal of P&G„s company, this company has their own Long Term Environmental Sustainability Vision. P&G‟s latest updated vision announced in 2010 are:
Powering company‟s plant with 100% renewable energy
Using 100% renewable or recycled materials in all products and packaging
Having zero consumer or manufacturing waste going to landfills
Designing products that delights consumer while maximizing the conservation of
resources.
International Conference & Carnival on Management Systems (InCaMS) 38 In order to deliver the environmental vision, P&G‟s company focus on two strategies as product and operations. The further explanation of the two strategies of P&G‟s Company as below:
Products:
In the aspects of products, P&G‟s company deliver their products with improved their environmental profile. The company also used life cycle analysis to understand where the biggest impact exists.
Figure 4. Life Cycle analysis Assessment (LCA)
International Conference & Carnival on Management Systems (InCaMS) 39 associated with the system that is being evaluated. In the last decade, P&G has adopted ISO 14040 standards for LCA. Managers at P&G routinely use LCA approaches to:
Analyses products from a system-wide, functional unit point of view in a consistent,
transparent and reproducible manner in order to: guide choices of raw materials, guide product innovation and design packaging with lower impact,
Analyses the energy and resource use in the detergent system,
Analyses various emissions, wastes, and resources using environmental themes,
Identify what parameters are most likely to be significant to monitor and control,
Identify opportunities for improving overall system performance, and
Benchmark the product over time and report progress.
Operations:
Then, in the aspects of operations, P&G‟s company improved their environmental profile of their own operations. The company focused on the environmental performance of entire supply chain, including their own manufacturing facilities, suppliers and logistics of finished products. The company also focused on creating efficiencies in energy, water, waste and emissions. (www.scienceinthebox.com). Throughout P&G‟s history, they‟ve focused on doing what‟s right and their approach to sustainability is fully consistent with this basic Company principle. They are accountable for delivering their goals year to year, and committed to improving P&G‟s sustainability results consistently and reliably over the long term (Procter and Gamble Sustainability Overview, 2008).
International Conference & Carnival on Management Systems (InCaMS) 40 c. Management of technological innovation in P&G’s company as an excellent
performance along with the efficient management
P&G‟s is a global, publicly traded Fortune 500 company, and the largest consumer packaged goods in the world. P&G‟s work is driven by a purpose of providing branded products and services of superior quality and value to improve the lives of the world‟s consumers now and for generations to come. P&G‟s growth strategy, inspired by their purpose is to touch and improve more consumers‟ lives in more parts of the world, more completely. For decades, P&G fueled its consumer products engine from R&D inside its own walls. But as its markets have matured, P&G has directed its search outward. From Harvard Business Review, P&G has operated one of the greatest research and development operations in corporate history.
As the company grew to a $70 billion enterprise, the global innovation model it devised in the 1980s was not up to the task. CEO of P&G Company, A. G. Lafley decided to broaden the horizon by looking at external sources for innovation. P&G's new strategy connect and develop, uses technology and networks to seek out new ideas for future products. "Connect and develop will become the dominant innovation model in the twenty-first century," according to the authors, both P&G executives. "For most companies, the alternative invent-it-ourselves model is a sure path to diminishing returns." This excerpt from a March 2006 Harvard Business Review article focuses on the company's assessment of its aging innovation process and the development of connect and develop (http://hbswk.hbs.edu/archive/5258.html).
International Conference & Carnival on Management Systems (InCaMS) 41 Collaboration with University
P&G signs a Master Collaboration Agreement for Joint Research and Development with the Hebrew University. Hebrew University was chosen as one of few in the world with whom P&G set strategic Partnership for joint innovation Creation. This collaboration agreement is the first of its kind for P&G in Israel and an important next step that follows the Memorandum of understanding signed in December 2010 between P&G and the Office of Chief Scientist at the Ministry of Trade & Industry of Israel. “This agreement with Hebrew University allows P&G scientists and research leaders to partner on a new level with Hebrew University Faculty and researcher in areas such as biology, chemistry, colloid and surface to drive cutting-edge innovations that have the potential to impact a wide range of P&G‟s global product categories”, said Jeff Hamner, P&G‟s Vice President Corporate R&D.
Collaboration with Private Non-Profit Organization:
The Live Well Collaboration Singapore (LWC-S) is an independent innovation centre focused on revolutionising product design and development for consumers aged 50 and above in Asia. Brought to Singapore by the Procter & Gamble Company, the LWC-S is an extension of the Live Well Collaborative in Cincinnati (LWC-C), the breakthrough business-academia partnership model pioneered by P&G and the University of Cincinnati in the US, based on „P&G‟s Connect & Develop‟ open innovation model. The „Connect & Develop‟ model promotes the co-creation of products and services with the best innovators outside the organization. New research centre led by Singapore Polytechnic to help companies revolutionize product design and development for consumers in Asia aged 50 and above. It also based on breakthrough business-academia partnership model pioneered by P&G and the University of Cincinnati. In addition, P&G and Boeing join as founding members.
The LWC-S is grounded in two unique, but related disciplines, as described below:
International Conference & Carnival on Management Systems (InCaMS) 42 2. Design Thinking Principles that convert strategy and consumer insight into actionable
products and services.
LWC-S work with industry leaders, experts in the fields of architecture, environment, design, engineering, business, life sciences, aeronautical, digital media, information communication, marine and utilize a host of young creative talent.
The Collaboration with Government-Funded Research:
P&G and FLAMAC, a division of SIM (Strategic Initiative Material), announce the start-up of a strategic collaboration, by the Flemish Government. Its mission is to enhance strategic collaboration between knowledge institutes and the material & chemical industries in Flanders. This collaboration aims to develop and use unique high-throughput formulation technologies and is co-funded by the Flemish government. This will strengthen P&G‟s power for research and innovation for the different businesses via open innovation collaboration with FLAMAC. FLAMAC is a research centre in high-throughput methods which supports the chemical and materials Industries. It offers its services on either collaborative or multi-disciplinary government sponsored projects as well via bilateral contract research. “FLAMAC and SIM are very excited to be working with P&G. Within this project FLAMAC will offer its expertise on high-throughput technologies to accelerate P&G‟s formulation R&D. They are looking forward to building a long-term relationship between P&G and FLAMAC”, says Johan Paul, Manager of FLAMAC, a division of SIM.
International Conference & Carnival on Management Systems (InCaMS) 43 The successful innovation management depends on the top management of the organization committing resources to empower individuals and groups to act on new concepts. This commitment by the top management to innovation, in turn, requires their recognition of several realities, such as:
i. Management of technology encompasses the management of innovation
ii. It requires fostering an environment where innovative thought and work are encourages.
iii. It involves leading a firm from existing processes and products to something that is “better” and more valuable.
iv. It is proactive and encourage creativity and risk taking
Within any organization there are likely to be many different functions. Depending on the nature of the business, some function will be more influential than others. The study from P&G has identified the function of top management as the most influential in the innovation process. Effective communication with the external environment also requires encouragement and support.
8. CONCLUSION AND RECOMMENDATION
Conclusion:
a) Innovation was defined as the application of knowledge. It is noted that lies at the heart of all innovation, be they product, process or service. It is also worthy of note that many studies have resulted that product innovation are soon followed by process innovations.
b) Innovation is a management process. It is simply an aid in describing the main factors which need to be considered if innovation is to be successfully managed.
International Conference & Carnival on Management Systems (InCaMS) 44 Recommendation:
a) However, Procter and Gamble's market is too broad to monopolize the industry and killing other newcomers. They should provide opportunities for other businesses to gain a foothold in the industry a long time.
b) In the long term, Procter and Gamble must do more innovation-based product-related renewable energy. This is because, as was the case in today's world, the sources of energy available on earth are decreasing.
International Conference & Carnival on Management Systems (InCaMS) 45 References
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