Innovation requires taking risks, which can often be a challenge, especially for big multinational corporations.
So what does it take for some of those companies to innovate?
Limiting risk by knowing your market, trying pilots to prove a model, and creating new business divisions or processes are all ways to support greater innovation.
Devex Impact interviewed Orange’s Catherine Flouvat, Philips’ Maarten van Herpen and Unilever’s Carolyn Jones about innovation, risk-taking and how to scale on the sidelines of this year’s European Development Days. Watch the video above to see what they had to say.
To read additional content on innovation, go to Focus On: Innovation in partnership with Philips.
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About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.