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The Innovation Value Chain

The Innovation Value Chain

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Title: The Innovation Value Chain

Essay Details:

Subject: Business

Author:

Date: October 5, 2016

Level: University

Grade: A

Length: 4 / 1071

Essay text:

They also described how internal scouts were able to discover a solution for Siemens through an external source: doctoral student’s ideas. The article also emphasizes the importance of internal networks and the formation of cross functional teams to encourage personal networks. Proctor and Gamble has done this successfully through the development of its Olay Daily Facials. Innovation must be from a variety of sources externally and internally. The authors also describe how a firm improves its idea conversion process via multi-channel funding and/or having safe havens. The multi-channel funding allows a separate part of the firm to be an internal venture capitalist and to oversee the entire innovation and parallel the funding with the level of commitment...

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