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Corporate Explorers Transform Disruption Into Opportunity With This Proven Framework Innovation used to be seen as a game best left to entrepreneurs, but now a new breed of corporate managers is flipping this logic on its head. These Corporate Explorers have the insight, resilience, and discipline to overcome the obstacles and build new ventures from inside even the largest organizations. Corporate Explorers are part entrepreneurs, using innovation disciplines to jump start cutting-edge ideas, and part change leaders, capable of creating support for investment. They see that corporations already own the ideas, resources, and—critically—the talent to build new ventures. Companies like Amazon, Microsoft, Bosch, LexisNexis, and Analog Devices enable managers to put these assets to use and gain an upper hand over startups that threaten to disrupt them. Corporate Explorer is a guidebook to the practices that enable these managers to go from idea into action. It demonstrates how success is not only possible but may offer entrenched companies better odds than venture-capital backed startups. This actionable and proven framework explains how managers can become successful corporate innovators; it includes tools to: Learn how to apply innovation practices with greater discipline Turn great ideas into a full-time job as an innovation leader Experiment with and scale original business models Transform innovation programs into a thriving source of new business Attract, retain, and motivate entrepreneurial talent Energize employees by creating a realistic way to innovate These lessons come from the trailblazers of corporate innovation—Andrew Binns (Change Logic), Charles O'Reilly (Stanford Graduate School of Business), and Michael Tushman (Harvard Business School)—who have decades of experience helping entrepreneurial-minded executives activate employees to become Corporate Explorers. Entrepreneurs take notice—it's time for Corporate Explorers to set the pace and chart the course for disruption.
“This timely book reminds us that innovation is agnostic about where it's created.” —Satya Nadella, CEO, Microsoft Over and over, we see big legacy businesses getting beaten to the punch by energetic little start-ups. It seems like innovation can come from only the bottom up or from the outside in. But tech experts Vivek Wadwha and Ismail Amla are here to tell you that “big equals slow and stodgy” is a myth. Based on decades of experience working with both the world's leading brands and disruptive start-ups, this book explores the opportunity legacy companies have to create new markets, supercharge growth, and remake their businesses by combining the mindset and tool belt of start-ups with the benefits of incumbency: boatloads of customer data, decades of brand equity, robust distribution channels, enormous financial assets, and more. Wadhwa and Amla go deeply into why the pace and dynamics of innovation have changed so dramatically in recent years and show how companies can overcome obstacles like the Eight Deadly Sins of Stasis. Equally important, they provide a playbook on how to use their insights in your own company, team, or career. This fast-paced, anecdote-rich story rethinks modern innovation—a book every manager, executive, and ambitious employee will want to read.
Niccolò Machiavelli famously wrote, "There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success than to take the lead in the introduction of a new order of things." That's what this book is about--innovation far more audacious than a new way to find a restaurant or a smart phone you can wear on your wrist. Harvard professor Amy Edmondson and journalist Susan Salter Reynolds explore how to bring into being systems that transform human experience and make the world more livable and sustainable. This demands "big teaming": intense collaboration across professions and industries that may have completely different mindsets and even be antagonistic to each other. To do this successfully requires practicing new forms of leadership that combine an expansive vision with incremental action--not an easy balance. To reveal how pioneers build the future, Edmondson and Reynolds tell the story of Living PlanIT, an award-winning "smart city" start-up with a breathtakingly ambitious goal: building a showcase high-tech city from scratch to pilot its software. This meant a joint effort spanning a truly disparate group of software entrepreneurs, real estate developers, city government officials, architects, construction companies, and technology corporations. We get to know Living PlanIT's leaders and follow them and their partners through cycles of hope, exhaustion, disillusionment, pragmatism, and renewal. There are powerful lessons here for anyone, in any industry, seeking to transform the world.
Large corporations must become far more agile in implementing new products and new business models. The pace of technology change, the blurring of industry boundaries, and the agility and resources of startups in almost every industry segment demand it. Many companies have begun to adopt the principles of Lean Startup in order to increase the pace and agility of their innovation initiatives, but most have had limited success in doing so. Although the principles seem intuitive and straightforward, there are challenges to using them inside an existing company, especially in a manufacturing environment. The biggest requirements, beyond those espoused for startups, are: Developing a business model for the new venture that not only works in the marketplace but also works within the constraints of the corporation Managing the conflicts that inevitably arise with the current operating business; every business that has operated over decades has well-established ways of doing things that may not fit the required pace and flexibility required of a new venture Conducting business experiments with physical goods as well as with software offerings Managing the risk of investing in a new domain for executives that are used to investing where the risks are more clearly understood This book describes a systematic approach for implementing Lean Startup in large organizations. It builds on the principles of Lean Startup and adds additional practices required to manage the realities of the corporate context. The book describes how it is done, with examples from practice in companies that have successfully used the methods. It complements Lean Startup methods with elements of corporate innovation practices developed by leading academics and practitioners. It brings these practices together for the first time in a practical and integrated way.
For more than twenty years, major innovations—the kind that transform industries and even societies—seem to have come almost exclusively from startups, despite massive efforts and millions of dollars spent by established companies. Tony Davila and Marc Epstein, authors of the bestselling Making Innovation Work, say the problem is that the very processes and structures responsible for established companies’ enduring success prevent them from developing breakthroughs. This is the innovation paradox. Most established companies succeed through incremental innovation—taking a product they’re known for and adding a feature here, cutting a cost there. Major breakthroughs are hard to achieve when everything about the way your organization is built and run is designed to reward making what already works work a little better. But incremental innovation can coexist with breakthrough thinking. Using examples from both scrappy startups and long-term innovators such as IBM, 3M, Apple, and Google, Davila and Epstein explain how corporate culture, leadership style, strategy, incentives, and management systems can be structured to encourage breakthroughs. Then they bring it all together in a new model called the Startup Corporation, which combines the philosophy of the startup with the experience, resources, and network of an established company. Breakthrough innovation no longer has to be the nearly exclusive province of the new kids on the block. With Davila and Epstein’s assistance, any company can develop paradigm-shifting products and services and maximize the ROI on its R&D.
This book provides an overview of the theory, practice and context of entrepreneurship and innovation at both the industry and firm level. It provides a foundation of ideas and understandings designed to shape the reader’s thinking and behaviour to better appreciate the role of innovation and entrepreneurship in modern economies, and to recognise their own abilities in this regard. The book is aimed at students studying advanced levels of entrepreneurship, innovation and related fields as well as practitioners (for example, managers, business owners). As entrepreneurship and innovation are largely indivisible elements and cannot be adequately understood if studied separately, the book provides the reader with an overview of these elements and how they combine to create new value in the market. This edition is updated with recent international research, including research and examples from Europe, the US, and the Asia-Pacific region.
NEW from the bestselling HBR’s 10 Must Reads series. To innovate profitably, you need more than just creativity. Do you have what it takes? If you read nothing else on inspiring and executing innovation, read these 10 articles. We’ve combed through hundreds of articles in the Harvard Business Review archive and selected the most important ones to help you innovate effectively. Leading experts such as Clayton Christensen, Peter Drucker, and Rosabeth Moss Kanter provide the insights and advice you need to: • Decide which ideas are worth pursuing • Innovate through the front lines—not just from the top • Adapt innovations from the developing world to wealthier markets • Tweak new ventures along the way using discovery-driven planning • Tailor your efforts to meet customers’ most pressing needs • Avoid classic pitfalls such as stifling innovation with rigid processes Looking for more Must Read articles from Harvard Business Review? Check out these titles in the popular series: HBR’s 10 Must Reads: The Essentials HBR’s 10 Must Reads on Communication HBR’s 10 Must Reads on Collaboration HBR’s 10 Must Reads on Leadership HBR’s 10 Must Reads on Making Smart Decisions HBR’s 10 Must Reads on Managing Yourself HBR’s 10 Must Reads on Strategic Marketing HBR’s 10 Must Reads on Teams
Discover the MIT-developed, “doer’s approach” to innovation with this guide that reveals you don’t need an earth-shattering idea to create a standout product, service, or business—just a hunch that you can scale up to impact. Innovation is the subject of countless books and courses, but there’s very little out there about how you actually innovate. Innovation and entrepreneurship are not one and the same, although aspiring innovators often think of them that way. They are told to get an idea and a team and to build a show-and-tell for potential investors. In Innovating, Luis Perez-Breva describes another approach—a doer’s approach developed over a decade at MIT and internationally in workshops, classes, and companies. He shows that innovating doesn’t require an earth-shattering idea; all it takes is a hunch. Anyone can do it. By prototyping a problem and learning by being wrong, innovating can be scaled up to make an impact. As Perez-Breva demonstrates, “nothing is new” at the outset of what we only later celebrate as innovation. In Innovating, the process—illustrated by unique and dynamic artwork—is shown to be empirical, experimental, nonlinear, and incremental. You give your hunch the structure of a problem. Anything can be a part. Your innovating accrues other people’s knowledge and skills. Perez-Breva describes how to create a kit for innovating, and outlines questions that will help you think in new ways. Finally, he shows how to systematize what you’ve learned: to advocate, communicate, scale up, manage innovating continuously, and document—“you need a notebook to converse with yourself,” he advises. Everyone interested in innovating also needs to read this book.
A fresh approach to succeeding with innovation, grounded in insights about rapidly changing customers, competitors and technologies Written by a director at the award-winning global innovation firm frog design, this vital book shows business leaders and managers how to accomplish truly effective innovation in today's disruptive climate. Richardson shows how business is filled with "X-problems"- tough new challenges that present massive innovation opportunities, but also risks. Thriving in a world of X-problems requires harnessing four specific approaches: Immersion, Convergence, Divergence, and Adaption. Combining frog design's approaches with insightful analysis of companies such as Apple, BMW, Clif Bar, Google, Maxtor, and Salesforce.com, Richardson illustrates how to envision and realize successful new business ventures, products, and services. Provides a process for translating customer insights into relevant innovations, accompanied by case studies (many of them richly described from frog's own experiences) For the first time, gives real guidance on connecting products, software and services into ecosystems that are actually compelling to customers Shows how to facilitate bringing multiple perspectives to understanding a problem domain, as well as how to manage an innovation portfolio over time Innovation X is an essential guide for companies seeking to create growth and differentiation in increasingly competitive markets.
Utilizing a unique data set, Zoltan Acs and David Audretsch provide a rich empirical analysis of the increased importance of small firms in generating technological innovations and their growing contribution to the U.S. economy. They identify the contributions made by both small and large firms to the innovative process and the manner in which market structure, and the firm-size distribution in particular, responds to technological change. The authors' analysis relies on traditional theories of industrial organization and tests existing hypotheses, many of them previously untested due to data constraints. Innovation and Small Firms brings together two large data bases recently released by the U. S. Small Business Administration - one directly measuring innovative activity for large and small firms, the other providing a detailed census of economic activity for all manufacturing firms and plants across a broad spectrum of industries. Acs and Audretsch describe and evaluate the data bases in the context of the literature on innovation, market structure, and firm size. They present their findings on the presence of small firms, small-firm entry in manufacturing, small-firm growth and flexible technology, and mobility and firm size. They compare static and dynamic measures of small-firm viability and address the relationships between R&D, innovation, and productivity, and analyze the interaction between technological regimes and the role of government in innovation.