It may seem obvious, but innovation is the most important component for long-term success. The problem G. Gil Cloyd, chief technology officer at Procter & Gamble (P&G), faced was that innovation itself was beginning to look a little threadbare and musty. With the rapid pace of a global business like P&G, any innovation the company introduces has a shelf life; and when Cloyd began to analyze the problem in 2004 he discovered that innovation’s shelf life was rapidly decreasing.
Cloyd developed what he termed “holistic innovation.” Whereas the prior emphasis was more on technical aspects of a given product, Cloyd’s holistic innovation refocused priorities to the experience the product gave the customer. If the customer placed higher value in the product, he or she would be more likely to stick with it longer and remain more loyal to the product family.
G. Gil Cloyd retired from Proctor & Gamble in 2008, after thirty-three years of service. But his influence is still felt, even today. His successor, Bruce Brown, credited Cloyd for bringing a “broader, more-productive, more-open and more consistently successful innovation culture at P&G.”
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