From the HBR in 2011, and I may have posted this before, but found it again looking for innovation examples. Worth repeating. Mentioning now VA guru Bob McDonald. Just a few months ago I was approached by the VA concerning McDonald and innovation.
How P&G Tripled Its Innovation Success Rate
Back in 2000 the prospects for Procter & Gamble’s Tide, the biggest brand in the company’s fabric and household care division, seemed limited. The laundry detergent had been around for more than 50 years and still dominated its core markets, but it was no longer growing fast enough to support P&G’s needs. A decade later Tide’s revenues have nearly doubled, helping push annual division revenues from $12 billion to almost $24 billion. The brand is surging in emerging markets, and its iconic bull’s-eye logo is turning up on an array of new products and even new businesses, from instant clothes fresheners to neighborhood dry cleaners. ... "
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