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Challenges and opportunities in leveraging innovation to improve profitability
J. BARTA (1). (1) General Mills, Inc., Minneapolis, MN, U.S.A.

Challenges and opportunities in leveraging innovation to improve profitability: This presentation will give an overview of a number of innovation approaches to improve profitability at General Mills (GMI). Holistic Margin Management: GMI’s innovative Holistic Margin Management (HMM) strategy has been a crucial component of the company’s strong business performance. GMI currently has hundreds of initiatives underway to drive value by focusing on the things that matter most to consumers while reducing waste across its operations. Appleseed Ideation Tool: Appleseed is a proprietary tool developed by GMI to help business teams identify new potential ideas for cost reduction. Appleseed is an opportunity map of 30 unique strategies that may lead to HMM. Appleseed can serve as an ideation tool to come up new cost savings ideas across all facets of the business. Connected Innovation: In 2005 GMI began exploring what the concept of Open Innovation might mean in the food industry. In 2007 the General Mills Worldwide Innovation Network (G-WIN) was created to formally open the company’s doors to the technical talent that resides in universities, government research labs and companies of all sizes. Open innovation is now a key plank in their innovation strategy.

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