P&G's bottomless well of new ideas

06/25/2009 | Knowledge@Wharton

Strategic partnerships can help solve a range of business problems, so why not use them to innovate? By working together with outside companies and individuals to generate new ideas, Procter & Gamble developed 125 new products in 2007, using the help of 186 other companies. "What we fundamentally did was redefine our organization as 1.8 million people," says P&G Vice President Larry Huston. "What you're doing is building an unbelievable infrastructure to innovate with other people's ideas."

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