If managers of large companies can do anything to increase innovation of their firms, it surely is by surrounding themselves with innovators on a daily basis. The domain of this activity does not only fall under the managers responsible for innovation or representing the R&D divisions. Piercing the organisation structure crosswise with knowledge on innovative tools or inventive business models enables to infuse the organisation with a spirit of fresh eyes on the surrounding reality.
Dealing with startups is certainly such an activity. Startups concentrate around a different process of building their market advantages. Equipped with the investors’ capital, they follow the way of quick market expansion which assumes accepting above average risk. Large companies control their risk and try to manage it. This makes them solidify their market positions. Pure interaction between a large company and a startup gives value in the form of exchanging practices used by both.
Building a culture open to supporting innovative systems is a different way to instil innovative activities in large companies. Especially building the incubators of entrepreneurship, which encourage entrepreneurs to act under the wings of large companies. This way the cooperation between both worlds is created naturally. Exchanging values is a natural consequence in this type of relation.
Building their own innovative enterprises by managers of large companies. Consolidating the culture of innovation in a company should be followed by an example. If managers have the ability to create budgets for inventive projects, they give the example of innovative activities. In such case, a failed project is perceived as a lesson, not ultimate defeat. An example from above causes the lower organisation levels to undertake innovative efforts as far as their budgets allows it.
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