Johnson & Johnson Announces Opening Of London Innovation Centre
Johnson & Johnson today announced the opening of the Johnson & Johnson Innovation centre in London, one of four regional hubs being established this year in the world's leading innovation hotspots.
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#1 Mar 15, 2013
A former managing director of our Foundation David Ong knows the family of J&J well and has been a private adviser to them on global investments for many years. Unfortunately for J&J they have not got the advice that they need to make things happen for them in creating new products through technology that they have with financial investment and their centres will not produce what they think. The reason for this is because J&J advisers have not understood what the history of S&T tells them. This is not unusual as the majority of global corporations are the same, they never understand or are not interested in the mundane things that involves leading-edge research. If they did they would realise that there is a unique piece missing out of the innovation chain and the main reason why their R&D strategies will fail.
Therefore don't pin your hopes on a product revolution where J&J are concerned, for they do not have the vital advice that the owners get for their own investments.
These centres will produce little and where they will with their present thinking not even give a payback for their investment in bricks and mortar. There are many underlying reasons also why this will be the case but like most R&D directors at all the major business around the world, they have not a clue how to make real innovation work. And that is a fact based on historical evidence and where at least 95% of all R&D research investment goes down the drain with no payback. That even when they partner with so-called ivy league universities. Indeed these universities are poor providers of dynamic economies within corporate giants and have shown little improvement in the bottom-line. Until corporate R&D centres realise that there is a missing-link within their innovation chain, they are on a hiding to nowhere. Unfortunately the eastern economies are starting to see what that vital component is and western corporations had better watch out if they are tom survive over the medium term and not be swallowed up by far more innovative and powerful eastern counterparts. The writing is now on the wall but the West is oblivious to the fact. Sad, because it will have enormous future ramifications for the West and their people.
Dr David Hill
World Innovation Foundation
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