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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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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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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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In our Fast Company post this week, Rob reports on his trip to Iceland last month with members of the Kellogg Innovation Network (KIN). The people of Iceland are coming together in the wake of the financial crash. Iceland has a long road ahead to pay down a debt equivalent to over 800% of GDP, [...]
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In our Fast Company post yesterday, we highlight an important editorial for the business community: The “Schumpeter” column of The Economist Holiday Edition proposes that the business community must better engage the global dialogue. We agree. The business community must do both what’s right and constantly explore the rights and responsibilities of operating as a business with constituencies [...]
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In our post yesterday at Fast Company, we describe guiding principles for building a robust network, which is one of the most important factors to succeeding as an innovator or entrepreneur, inside or outside a large corporation:
Simple rules rule
Determine your objectives
Build diversity into your group
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Core businesses become core for a reason: their business designs work–or worked. Eventually, all businesses require renovation. Sometimes, they require revolution. Some signs are obvious, like falling margins or shrinking market shares, though it could be that you’re just underperforming. What other factors might indicate you need a fundamental redesign? In our post on Fast [...]
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How can corporate entrepreneurs be sure whether they are moving in the right direction in the early stages? In our post on Fast Company today, we highlight three major signposts of progress toward building new businesses.
CEO and Senior Management Commitment is Solid.
Your Energies are Focused.
You’re Already Planning for Transition and Scaling.
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Fostering corporate entrepreneurship means a new focus on attracting and retaining people with the determination and skill to build bridges to future growth. Assuming your company is open to the possibility of entrepreneurial growth, do you have what it takes to be a corporate entrepreneur? This posting at Fast Company describes five characteristics of the species [...]
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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.
