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Bruce Brown, CTO, Talks Innovation in Harvard Business Review

Wednesday, May 18, 2011 3:00 am EDT

Over the past 175 years, P&G has relied on innovation to drive the company's growth. However, in the early 2000s, only 15% of the Company's innovations were meeting their expected revenue and profit targets.

Senior management took a step back to determine the direction the Company needed to take to ensure that P&G could strengthen both its core businesses and ability to capture innovative new-growth opportunities. The decision -- to create a structure that systematized innovation.

In the June issue of Harvard Business Review, Bruce Brown, P&G Chief Technology Officer, and Scott Anthony, Managing Director, Innosight, co-author an article entitled, "How P&G Tripled Its Innovation Success Rate." It shares how our Company created a systematized process that enabled us to produce a reliable, repeatable stream of breakthrough innovations. A process that is referred to in HBR as the "new growth factory."

The article also provides insightful tips on how other companies can use our learnings to develop "new growth factories" of their own.

HBR.org is a paid subscription service.