P&G open innovation of "Connect + Develop"

Solution Preview

I. Introduction
A. Company Background
II. Connect + Develop Strategy for Success
A. Open Innovation
B. Transforming Culture
C. Hire for Success
III. Demand for Open Innovation
A. R & D
B. Focus on Talented People
IV. Ethics (full page of text and citations)
V. SWOT Analysis
VI. Recommendation (Ensure that in your actual project you have some clear recommendations or takeaways in the final paper, in clear bullet form, supported by sources)
VII. Conclusion

1. Executive Summary

This will be a summary of how (you) should write (your) dissertation or Capstone Project. This is "not" a turn-in-ready assignment. In reference to the executive summary for Proctor and Gamble, the company is the epitome of a conglomerate as it is one of the largest corporations in the entire world and has operations in over 80 different countries. The company has a large array of products and is a leader in household items that are sold within the U.S. with over 300 brands that are actually sold in even more countries than the 80 that it operates within. The company's products are sold in over 160 countries, and this is evident because of the fact that over half of its annual revenue is derived from its overseas sales.

The company's historical rise began from humble beginnings in 1837 wherein it was founded based upon the sale of candles and soap. The biggest innovation in its early days of operations, and the innovation that helped propel the company into greater marketability was the creation of Ivory soap, a product that still represents a market leader over 150 years later. This innovation helped the company grow so much that 12 years later in 1890, it was able to become an incorporated corporation that began expanding its sale offerings with the company introducing the now famous Crisco by 1911. Other revolutionary products that have propelled the company into global prominence are Tide laundry detergent, Pampers disposable diapers, and Folgers coffee to name a few. The diversification of the company and its ability to continuously innovate over the last 150 years is the reason that Proctor and Gamble has remained at the top of its industry. Throughout this summary, I will elucidate upon how the company has been able to strategically use an innovation strategy to restructure its operations while creating new products that consistently place the company at the top of sales for the products sold.

2. Apply a balance of theoretical and practical foundational knowledge (that is, theories, models, and practices) and an in-depth understanding of a full range of business systems, processes, and technology within and across core disciplines. Recognize and justify approach to integrating foundational knowledge, business systems, processes, and technology within and across core disciplines.

When analyzing how a company can continuously remain at the forefront of innovative ideas and cutting edge products, (you) must have a clear understanding of the business systems within the organization as well as how the organization utilizes technological advances across the core processes and disciplines within the company. Therefore, this section will highlight how Proctor and Gamble has been able to integrate technology, an innovative strategic approach, and transformational leadership into its product development, marketing strategy, and global operations.

Beginning with the company's first major innovation, Ivory soap, Proctor and Gamble has long championed innovation over other business processes as innovation drives the company's business. This is why it has remained a leader throughout its industry for over 150 years, and this is juxtaposed by the fact that Proctor and Gamble spends more on Research and Development than almost every other competitor in its industry combined wherein its nearest competition only appropriates 50% of what P&G currently appropriates toward R&D. The company currently spends $2 billion annually on ensuring that their company can develop new and innovative products through research and development of the next potential Tide, or Ivory soap, or ...