(503b) Cost- Effective Creativity – a Partnership between Technology and Commercial Management
AIChE Annual Meeting
Thursday, November 16, 2006 - 8:55am to 9:20am
Creativity is an inherently high-risk business. It's the nature of the business that most creative ideas will never achieve technical success ? even fewer will result in commercial success. While this is true, it's a rare company that can thrive, or even survive, over the long term without investing in creative ideas to improve upon its current products and business practices.
Given the high failure rates of investments in creativity, costs can easily get out of control, and commercial support for continued investments in creative ideas can be jeopardized. An effective partnership between technology and commercial managers is critical to ensure that investments in creative ideas have both commercial relevance and sufficient ?stretch? to provide future competitive advantage.
This presentation will provide an overview of how The Lubrizol Corporation is managing its investments in creativity in a partnership between its technical and commercial divisions.