Innovation

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.G_Posters-08

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.

 

Innovation

Johnny RottenAs I am participating in a thought leaders Tank meeting with Innovation Pioneers on Disruptive and Radical Innovation, I ask myself; Do these in any way merge or are they parallell, maybe even contradictionary?

On a first note, when disrupting a business we seek to do something that break the usual sustaining processes. We take on risk to not make the most out of a Potential or an Opportunity but rather shift the curve of competetive advantages. We find a solution to a real or percieved quality problem, whilst still offering a solution with a cost adavntage.

Radical, on the other hand, falls more into hand as a way to maximize the reach within an Opportunity or a seemingly reachable Potential. To achieve this we seek new technologies and processes that can bring us to major breakthrough.

While the disruptive still deal with a known product on a known market, the radical will more likely reach for the unknown, allthough the output is most commonly unknown.

Phd Christian Sandström says, Companies are usually able to reconize what will happen. The problem is what to do about it.

He continues by agreeing to my long time saying, the problem large companies have, is that they think big, demand big and fail big. Again, this is where entrepreneurship, or intrapreneurship comes in. Through partial separation and corporate venturing (internal).

I continue to think; Is radical innovation based on a repetetive process, in the long run just a disruptive movement?

Innovation

We are often so attached to our ideas, concepts and cases, that we loose the ability to holistically evaluate or have them efficiantly developed. This attachement can also work as a strength when it comes to pulling your baby through rough times. However, this is rather persistance.

Are you strong enough to take the ax and discontinue a case that is not proving or will not achieve he right strategic values? Are your strong enough to believe in a case that still has much to prove? And, maybe more importantly, are you strong enough to let go of a case, so that it can mature, develop and refine under other management?

Letting go of a project or an idea, can be as hard as letting your child try their own wings and leave home. You fear all sort of more or less rational outcomes, even that your position as a parent will be deminished and even questioned. This fear is based on one of the strongest forces within us, egoism. However we need to understand that egosism in a short sighted point of view, is very different as to the egosim we find when we look a bit further.

What is good for others is so much better for us. Meaning, we do something for ourselves, we feel ok. At least if it is not at the direct cost of others. Doing good for others, feels very good. Even though it might be at a certain cost to ourselves. Maybe even due to the cost to ourselves.