Open Innovation in Cosmetics & Personal Care - Preparing for a New Future in Cpg

Talk will cover past, present and future of what the Clorox Company has done to grow the Burt's Bees business through External, or Open Innovation. Also included will be an assessment of current best practices, and candid comments about what works best in the trends-driven world of Personal Care. Not all programs work out as intended, so talk will also highlight lessons learned and adjustments made along the way.

Established CPG companies have never been under more pressure to grow despite new external forces that cannot be managed based on the previous ways of working. How can Open Innovation identify and help build the new set of capabilities that enable businesses to successfully compete in the future?

The strategies used by Open Innovation have been evolving as well. This talk will discuss the advantages and potential pitfalls associated with traditional and new approaches including Technical Partnering, Expert Networks, Entrepreneurial Ecosystems and Data Analytics.

Talk will also address the latest thinking about how to measure impact and success, which can be elusive for practitioners, stakeholders and others in the business benefiting from Open Innovation's work.

Finally, the talk will wrap up with ideas about the importance of understanding an organization's culture and true appetite for change. Innovative cultures are often messy, and Open Innovation can help R&D leaders better prepare their teams for what comes next.