A PROPOSED STRATEGIC PLAN FOR ENHANCING CORPORATE INNOVATION IN THE PARAGON TECHNOLOGY AND INNOVATION
Paragon is a local beauty company that has created market leader brands in many categories. Paragon strives to produce the best quality products at affordable prices. Paragon has strong product innovation capabilities, more than 1,600 types of products and 11 cosmetic and personal care brands hav...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/71120 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Paragon is a local beauty company that has created market leader brands in many categories.
Paragon strives to produce the best quality products at affordable prices. Paragon has strong
product innovation capabilities, more than 1,600 types of products and 11 cosmetic and
personal care brands have been launched. Paragon has 41 distribution networks in Indonesia
including in Malaysia with more than ten thousand employees and partners.
The Covid-19 pandemic since March 2022 has caused economic growth to decline, including
the beauty industry. On the other hand, digitization has caused many indie brands to be born.
These two things make the competition in the beauty industry even higher. Therefore, Paragon,
which has excelled in product innovation, needs to exploit existing businesses to win the
competition. Paragon also needs to explore new businesses to sustain the business in the long
term.
Currently, Paragon has carried out business exploration that runs parallel to business
exploitation. Since 2020 Paragon has formed a GCIO (Group Corporate Innovation Office) for
new business exploration. It is hoped that this business exploration group can create startups
within the company. Therefore, in this study will analyze how the existing conditions of
Paragon in carrying out business exploration, identify challenges that arise, and provide
recommendations for solutions. So it is hoped that this research can enhance the company's
innovation process at Paragon in creating new businesses.
This study uses a qualitative method by interviewing employees (Paragonians) who are
involved in business exploration. In this study, researchers used the theory and framework of
ambidextrous organizations, corporate startups, and open innovation. In this thesis will review
the existing conditions, challenges, solutions, and at the end of this thesis will explain the
implementation plan of the solutions proposed.
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