Knowledge Management- Connect+ Develop Initiative

1. Knowledge
Management

2. Connect + Develop
Initiative of XYZ

3. Presented By
Vijay Pandey
B-54
15020441306

4. Submitted to:
Prof. Supratik Ghatak

5. OBJECTIVES
 To identify the changes in XYZ after adoption
of Connect + Develop initiative.
 To understand the benefits of Connect +
Develop Initiative.
 To determine the challenges faced during
implementation of Connect + Develop in XYZ
Company.

6. Introduction
 XYZ is an American multinational consumer goods
company headquartered in downtown Cincinnati, Ohio,
United States
 XYZ’s dominance in many categories of consumer
products makes its brand management decisions worthy
of study.
 As of now the net revenue of XYZ is $83 billion

7. Connect + Develop Initiative+ Develop
Initiative of P&GXYZ has taken the open approach to innovation a step further
with its Connect + Develop initiative
Connect + Develop is a strategy through which XYZ aims to
acquire at least 50% of its innovations from outside company
walls
The idea is not to replace its own research and development
capabilities but to have them work more effectively and reduce
the time taken to bring products to market

8. XYZ have around 9,000 researchers in the
areas in which they work, but there are
1.5m scientists and engineers globally
working in the same field. So they feel if
they can go outside the company and find
a best-in-class solution, why not do that?
Benefits

9.  In addition to developing new products itself, the company looks around
to identify companies that have developed proven goods, packages,
technologies, business processes and engineering solutions that have the
potential to be improved
 The company has several means of capturing these solutions:
1) It has a website through which people can submit ideas based on XYZ’s list
of requirements and technology briefs.
2) It uses what it calls its “intelligence search engine”. This consists of a group
of people located around the world who act as corporate matchmakers—they
assess the innovations, run them past the appropriate business unit and
communicate with the companies or individuals that have developed them

10.  Today, mechanisms are being sought to facilitate the
interaction of large companies with smaller, innovative
entrepreneurs.
 With the cost of developing new products and
technologies rising, these kinds of initiatives are
becoming more common as companies look outside their
own walls for sources of knowledge, expertise and
innovation.

11. Thanks!