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Unformatted text preview: Corporate New Ventures at Procter & Gamble 0102-735-71 12-07-2010 Charles D Bremnathan New product development and structured/systematic innovation are considered the basis for success by the consumer product giant Proctor & Gamble which has more than 300 brands on the shelves. Delivering growth rates demanded by analysts and shareholders led the company into diversification and focusing on core competencies, making it lose the power or cross-functional sharing and innovation. Then the companys top management created an independent, cross-functional team called Corporate New Ventures (CNV) headed by Craig Wynett, a young and successful brand manager who grew up the ranks fast. The team was responsible for gathering information and producing new creative ideas and commercialization plans; all of their ideas were backed up with hard facts and research. This combined with P&Gs depth and breadth of experience in scientific and disciplined innovation helped them come up with innovative products that comprised five of ten most...
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- Fall '10