Agile through Different Lenses: Applying Agile Growth strategies to “outside-the-core” innovation and how to actually make it work.
Irene Spitsberg, PhD, Managing Director, Innoventures Consulting, LLC
Large companies are not start-ups and never will be. They are designed and operate differently. To innovate in new-to-company space effectively, large companies can’t simply replicate start-up principles. Rather, they must adapt them in ways that are smart and tailored to their organization.
While it is compelling to adopt emerging innovation management trends in the hope to achieve quick results, this often fails because the introduced changes impact other organizational processes and priorities. As companies work to augment delivery of innovations with entrepreneurial and intrapreneurial approaches, studies show that these efforts are rarely successful, with the failure rate for “entrepreneurial” type projects between 70% and 90%; and only one out of five executives say that they are strong at “breakthrough” innovation.