Fostering entrepreneurial behavior, methods and approaches within an organization, demands a culture for intrapreneurs. How do we really form a systematic approach to corporate entrepreneurship?
A possibility for large organizations is to engage in true Corporate Venturing. Within these programs internal projects can be separated and externally driven projects can be integrated. Developing a strategy with balanced risk and efforts, network, competence and a working structure for this is vital for any organization engaging in venturing.
We find that organizations toggle around the issue of managing Disruptive Innovation as a value creator. Since resources are scarce and short-term results are high in demand, the disruptiveness often gets rounded off, so that it fits into the process of continuous improvements, rather than creating new values. This leads us to an inability to extract competitive changes and new revenues from our creative ingenuity. There are ways around this though.
In an approach of innovation portfolio management, it can be visualized how corporate venturing and corporate entrepreneurship fits our strategy. We need to find ways to govern, lead and allocate resources, while attempting to follow a supporting process. Now, the cultural factors behind this is of utmost importance. From choosing functional incentives to fostering an openness to “new”.
When digging into this, we also find ways to structure and organize for radical innovation and radical collaborations.
I am facilitating a workshop about corporate entrepreneurship at this years Innovation In Action. If you feel this or any of the other topics suit your taste, you should consider joining. There are 9 other magnificent workshops to choose from when forming your personal 2 days, 4 workshops agenda.