Summary:
P & G, after facing serious financial problems around 2000, a new President of the company was introduced. Lafley who was new developed many innovative ideas that helped the company out. Also, getting insight from stores and places where consumers hang out, so that the company can relate their products to their consumer's emotional aspects of their lives, have been a big part of the new president's philosophy. Products are not the only important part of an innovative plan, but alos knowing to keep your loyal customers. P&G has emphasized a lot of design into their products so that it could attract teenagers. Also the new president, Lafley believes in bringing in ideas from outside so that more opinions could be heard on how the products should be designed and made.
Opinion:
I think this is a very good idea to bring in ideas from outside of the corporation. When you critique yourself it is very difficult to find flaws, but if you ask someone to proofread your paper or evaluate your performance they can find them in a more logical manner. So I think P$G bringing in ideas from outside is a big advantage that they have over other leading companies. I think innovation is the key here in the article. You need to be strategic, but then find ways to attract and keep customers in a new and different way. There needs to a "Wow!" factor for a company to succeed. There must be something different in a time where we live in where everything get boring really fast
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