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The document discusses the evolution of innovation, contrasting closed and open innovation paradigms, highlighting the importance of external collaboration for success in modern business. It uses Procter & Gamble as a case study, illustrating how the company shifted from a closed innovation model to one that embraces external ideas to enhance brand development and restore market confidence. Additionally, it outlines the challenges and opportunities faced by small and medium-sized enterprises (SMEs) in the open innovation landscape.






































