Colgate-Palmolive’s Commitment to Innovation
A self-pronounced key to Colgate-Palmolive’s success is the organisation’s strong emphasis on driving innovation across all functions and activities. While developing innovative new products remains a cornerstone for business, it is equally important to utilise technologies, processes and people to become more efficient to reach new consumers. In order to engage the workforce and access the innovation potential of the workforce, Colgate-Palmolive’s Global Innovation Fund was developed. Through this programme, employees across all business functions are engaged and encouraged to submit their innovative ideas (along with execution plans and development partners). Selected feasible and value-adding submissions receive seed money to develop the idea into action. Eugene Kelly, Colgate-Palmolive’s worldwide director of global workplace initiatives stated, “Innovation is not just products, is how you do things. And that’s how you get the diversity of thought.” A testament to the success of this programme and the diversity of thought at Colgate-Palmolive can be seen through the development of a line of herbal therapeutic medicines and products. “This illustrates what a difference the conscious utilisation of diversity can make”, says Diversity expert Michael Stuber. According to his experience, most organisations make the intellectual connection of Innovation and Diversity, but don’t get to the practicalities of making it happen concretely and effectively. As Innovation continues to be a key driver of business success, a firm and tangible linkage of Diversity is essential for its strategic alignment.
