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We began posting today to a new website, Benzinga, aimed at active stock traders. Over the course of the next several weeks, we will be describing the corporate entrepreneurship structures of individual companies profiled in Grow From Within….so look for their stock prices to bounce!
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In a posting at Fast Company today, we explain the Producer Model of Corporate Entrepreneurship, in which a dedicated innovation group is well-funded so that it can pursue new businesses independently. This “skunk works” approach is popular in the innovation literature, but such groups can become isolated if not managed correctly.
This is the last of four [...]
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In our post at Fast Company this week, we explain the Advocate Model of Corporate Entrepreneurship, in which a designated group drives new business creation but is intentionally provided only a modest budget. As such, the Advocate Model is a counterintuitive form of corporate entrepreneurship. But in some corporate contexts, it works to have a group [...]
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Recently, the Wall Street Journal’s Teri Evans contacted me regarding a challenge we’d all like to have: rapid growth. When we’re both great and lucky, entrepreneurs— corporate or independent—can end up with growth so brisk it overwhelms our ability to plan properly, scale efficiently and prepare for the future. Click here to see the article.
Let us know [...]
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In our post at Fast Company this week, we explain the Enabler Model of Corporate Entrepreneurship, in which resources are available for new business creation, but there is no designated organizational ownership. In other words, the early stages of new business conception are explicitly supported, encouraged, but no executive or team is explicitly charged with scaling proven concepts and transitioning them back into the organization.
The [...]
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We are delighted that a Consumer Goods Technology Magazine just published a concise summary of the Four Models of Corporate Entrepreneurship in their latest issue.
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In our post at Fast Company this week, we explain the Opportunist Model of Corporate Entrepreneurship and what you should do if you’re trying to build a new business in an environment without designated organizational ownership or resources. In general, the Opportunist Model works well only in trusting corporate cultures that are open to experimentation and have multiple [...]
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We’re pleased that our article on innovation leadership was placed front and center in the Chicago Chamber of Commerce’s newsletter today. The article picks up on some of the themes in previous posts here: That corporate entrepreneurship is about more than new products and services and that structure and process are not the enemies of innovation. It emphasizes [...]
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In theory, there’s no difference between theory and practice.
But in practice, there is.”
– Lawrence “Yogi” Berra, American Baseball Legend
How do you successfully build a corporate entrepreneurship capacity? Our research has found that it’s a multi-stage process.
The first key element is a mandate for growth or transformation accompanied by a vision that points in the general [...]
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3M’s innovation center, built about 3 years ago, sits across a pond from a “square mile of research labs” focused on dozens of different industry groups. The center’s focus is on exposing customers to the broad array of 3M technologies, in order to help create innovative solutions. I was part of a group of seven innovation [...]
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In our six years of research on innovation and corporate entrepreneurship, we did not find a single company that felt they lacked good ideas. Rather, the difficult task was creating an organization and processes that refine ideas, build businesses, and bring the best of them to market.
There is no one-size-fits-all structure and process to building [...]
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Creating Entrepreneurial Behavior within a Mature Company – Jim Blasingame's Small Business Advocate, November, 13, 2009.
True Marketing Doesn’t Just Sell the Story – Advertising Age, September 2, 2009.
Playing Well With Others – Wall Street Journal, June 22, 2009.
