Flat World
Business
What is Faster Innovation?
Procter and Gamble's radical strategy of open innovation with customers and partners generates more than 35% of the company's innovations and billions of dollars in revenue. Mattel reduced development time by 20% by connecting its designers directly with factories. Eli Lily launched a new company, InnoCentive, to access the global pool of scientists for solving R&D problems in pharmaceuticals and chemicals.
Today's customers are hyper-informed. Customer service is no longer enough to retain them. Businesses must innovate faster to stay ahead of the competition, and must customize offerings to retain customers. They must look at new models of innovation: co-create with customers and partners, do cutting-edge research in global R&D centers not just for cost, but also to access global talent and ideas.
To compete in the Flat World, companies should shift their operational priority:
Companies mentioned here are not necessarily Infosys clients. These examples are taken from published journals to illustrate the Flat World approach.
Back to Think Faster Innovation
Press releases
BT and Infosys Technologies Awarded National Outsourcing Association's Innovative Outsourcing Project of the Year
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Blogs
AMR Research wrote about Indian companies setting up numerous near-shore delivery centers in US time-zones. There you have it - India is outsourcing outsourcing. Discuss
In the News
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