Creating Successful Innovation Partnerships
To co-develop innovation with partners and produce value for consumers and customers, Nestlé Co. utilizes open innovation, new business models, trust and goodwill, and the mindset of ‘sharing is winning.’
One of the dominant ways in which intelligence presses forward is through innovation, recognized as a significant contributor to economic growth (The Economist, 2006). The exact definition of innovation varies from person to person. Generally, innovation is the economic application of ideas, technology, or processes in new ways to gain a competitive advantage.
For the food industry and especially for the consumer goods industry, innovation is a combination of a product’s inherent value to the con…
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