How does a almost 150 year old company continue to innovate like a start-up? By first engaging closely with their consumer.
For big growth, General Mills is thinking small. The maker of Cheerios and Yoplait has overhauled its approach to product development based on what management has learned from observing the industry’s smaller players.
“…over the last half dozen years we have been looking very closely at the entrepreneurs that we compete with, the smaller companies that we compete with, and we have studied in detail how those kinds of small companies develop and bring their products to markets,” said Kendall J. Powell, chairman and chief executive officer of General Mills, during a March 18 earnings call."
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