In 1997 Procter & Gamble (P&G) the giant packaged goods company in Cincinnati formed an autonomous idea lab called ‘Corporate New Ventures (CNV)’ group with $250,000 in seed money. Ideas generated from P&G’s 110,000 people are sent to CNV via a corporate collaboration network called ‘My Idea”. CNV teams then analyse markets, demographics, and cost information associated with these ideas through the Web. CNV then launches selected projects using any resources necessary within the compan...
BPIR Categories1.2.3 Identify new innovations that meet customer needs
3.2.1 Translate customer needs into product requirements
2.1.9 Assessment of the internal/external environment
9.7.1 Encourage employee involvement and feedback