The Innovation Grid – setting up and exploiting networks of innovation partnerships
Innovation is necessary for long term business success by creating differentiated products and processes leading to market share gains and enhanced margins – and by avoiding commodity competition on price.
However, the business environment is becoming more diverse, complex, interconnected and unpredictable. Making decisions on future business direction has become far more difficult and risky due to the pace of change in markets, technologies and the competitive landscape. In addition, managing day-to-day operations calls on more and more resources, leaving less time for managing the future - and in particular for innovation.
How can companies prioritise in the long term and ensure sustained development of innovative new technologies, products and processes?
The answer is by setting up and exploiting networks of innovation partnerships in order to innovate for the future, while delivering the ‘here and now’
Dr Stephen Jones describes the new culture for innovation at GSK Consumer Healthcare
A new culture for innovation is shaping GSK’s consumer healthcare business says Dr Stephen Jones, Vice President of Oral Healthcare R&D.
"When someone has an idea – and ideas come in thick and fast from all over the place – the spirit that we are trying to engender is that people will always get feedback on their idea – good or bad – in terms of whether we think it is a good fit for the particular brand that we are trying to push forward. We will always give people a considered response – the thing that switches people off most is the black hole into which ideas can disappear."
Make your investment in product development pay off
Six key ways to help maximize profits from product development:
- innovative product development – 'Wow your customer'
- integrated product and process development (IPPD)
- stealing the market (back!)
- ensure your company delivers their next key product competitively
- new products using non-core technologies
- researching the future.
Addressing issues of anti-counterfeiting in the pharmaceutical industry
The WHO (World Health Organisation) estimates that up to 10% of medicines worldwide may be counterfeit. Andy Gill of PA describes how the industry is facing up to this major issue and how authentication at the point of dispensing is the route to solving the problem.
