The best way to innovate is for a large company to view itself as an innovation ecosystem. Because of its core business, an established company cannot be as flexible as a startup, which can focus itself on creating one single product. Instead, established companies need to increase their innovation capabilities from within, without endangering their core business. This requires a big change in the organizational structure, which should ultimately lead to a company that can both search for new business models and execute existing ones.
The blogs are categorized into different elements that come into play with an Innovation Ecosystem. Combined with the “Must Read” blogs it gives you a perfect understanding of what innovation ecosystems are and how to improve one.
For most executives, it’s people and culture that drive innovation. They feel that a different, more creative mindset from employees will help improve innovation company-wide. Innovation managers, on the other hand, blame the lack of an ‘innovation’ mindset from leadership for not being able to advance in innovation. Mindset has become the scapegoat for not […]
By now, we all understand that explore and exploit are entirely different things, and any organization is aware of the need for innovation. When you test and try something new, you are in explore, and when you optimize and grow a business model, you are in exploit. The common practice seems to be to throw everything that appears new in one […]
What is corporate venturing? Corporate venturing is an innovation and growth strategy, in which a corporation wants to maintain or obtain a competitive advantage by funding and supporting a venture. This can be done by investment, management support, and the sharing of expertise. There are various forms of corporate venturing such as corporate venture capital, […]
An innovation framework provides guiding principles for developing a series of questions that can assess where a product is along its journey.
From our experience, your corporate startup will only succeed if the key stakeholders of the core business are being managed correctly. But to do so, you need to understand the internal environment of the business. In this article, we explain how to better understand and map the internal environment of your organization by analyzing your […]
If you want to allow innovation to blossom in your company, you need a separate corprate governance system to support it. This will allow you to search for new business models in a company that is designed to be a high-performing way of executing what you already do, and which is structurally adverse to anything […]
Setting up a dedicated management system for startup innovation is something that can be only done if there is a clear way of deciding what is what. Ultimately this is one of the necessary steps in professionalising innovation within your company.
The NEXT Canvas and the BMC are not mutually exclusive, but work well together as tools to create, test and renew ideas.
In our book The Corporate Startup, we describe what an innovation ecosystem is and how you can build an innovation ecosystem within your company. An ecosystem is needed to foster innovation company-wide, with the right governance in the right places, and multiple ways to do innovation. Where everyone knows how to do innovation, how to […]
Apart from the well known adagium it is the most common answer I get when talking to companies about their most urgent reasons to innovate.
The NEXT Canvas visualizes the four types of proof an idea needs to become a profitable business model
A lot of organizations we work with today recognize the innovation rhythm and the difference between searching and executing. The rhythm of innovation is different and less linear than that of other corporate processes. Innovation is the search for a business model of which we do not know if it will work, whereas corporates are […]
