Saturday, April 30, 2011

Week 2: The new P&G concept

A. G. Lafley's concept of opening the door to the outside world to take advantage of the crowdsourcing concept is not only a stark example of the modern digital interactive way of exchanging and promoting ideas but also helping companies small or big (big in this case with P&G) to increase the value of the company.

I had the experience of going to the Innocentive website in one of my prior MBA classes. I can certainly second my thoughts on the effectiveness of the 2-way communication between the recipients and the idea generation team who at the end of the day benefit monetarily.

As Bill Joy, co-founder of Sun Microsystem, puts it very aptly, the crowd clearly outperforms any number of employees, something that companies are getting aware of.

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