Is enriching the business ecosystem the metric for the future? General Electric HealthyImagination in Forbes.

“GE’s healthymagination project is setting the pace for cancer care as well as defining what it means to be a social business. Back in September GE announced it would spend $1billion on cancer-related R&D over the next five years. The $100 million healthyimagination challenge is a part of that – essentially a crowdsourcing platform to generate new ideas from screening to diagnoses to treatment and care for breast cancer.

…There is no revenue ROI involved. There are no senior executive metrics that stipulate that the $100 million must produce, say, a new $1billion a year business. It doesn’t have an innovation metric like 5 new products of 20% in cost savings.  Instead, GE is looking  “at the yield in terms of have we found new ideas, new concepts and concepts that impact patients, and long-term, have we created a new ecosystem of new partners?”

Link to full article below. Thanks to USF’s Nathan Schwagler for the head’s up.

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Comment

Fascinating idea. Exciting. I wonder if and how businesses and people will adapt this idea moving forward.  Creative thinking anyone?  Interested in creating new futures?

 

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• GE’s $1 Billion Cancer Project: Raising the Bar on Social Business (forbes.com)
• Crowdsourcing a Cure for Breast Cancer – $100 million and Game on at GE (forbes.com)
• GE raises the bar – doing business differently with #socialbusiness [Jeff Mowatt] (ecademy.com)