By Robert Wolcott, Michael Lippitz
Read or Download Grow from Within: Mastering Corporate Entrepreneurship and Innovation PDF
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Additional resources for Grow from Within: Mastering Corporate Entrepreneurship and Innovation
Example text
In the introduction, we defined corporate entrepreneurship as the process by which teams within an established firm conceive, foster, launch, and manage a new business that is distinct from but leverages the company’s current assets, markets, 21 22 grow from within and capabilities. Corporate entrepreneurship overlaps—and should be coordinated with—traditional innovation and growth investments, such as research and development labs, technology incubators, corporate venture capital, mergers and acquisitions, and spin-outs.
Many buyers were still unsure if and when IP-based solutions would provide the level of quality required. Nonetheless, Tellabs withdrew its product from the market only months prior to Cisco’s successful launch, and Tellabs had clearly shown its willingness to support the product over the previous few years. Timing was by no means everything. There was another even more fundamental factor. Tellabs took a solid product designed by some excellent engineers and sold it through its existing channels to the same buyers with the same sales approach.
Chapter 4 will delve into the problem of which model is right for you and how to start. The Culture Change Trap Building a culture of innovation should be an objective of every company that is seeking growth and relevance in the long term. However, many dedicated corporate entrepreneurship teams end up with the responsibility, either intentionally or by accretion, for building a culture of innovation companywide. This can be a trap. What team, no matter how dynamic, inno- 39 40 grow from within vative, and assertive, can transform a company’s culture on its own?