11 Ways Startups Outrun Established Corporations

The purpose of this post is to list out how startups are bypassing established companies so that incumbents glean the best tactics and apply them to their own corporate innovation. Tech startups are designed, built, and managed differently than established companies, giving them a competitive edge against incumbent corporations. This post outlines startup advantages, including cultural differences, business models, and business strategies. But, established companies aren’t sitting around idle; they’re adopting these same strategies in order to compete, emulate, or lead in their market. See how corporations are deploying ten types of innovation programs. In our work at Crowd Companies, we’ve observed that big, established companies possess advantages in their tremendous resources, trusted brand names, and experience in their field, … Continue reading11 Ways Startups Outrun Established Corporations

Corporate Innovation Impacts Customers in Four Ways

Rather than arbitrarily throw around the “innovation” word, understand how it impacts your customers, and be specific. Innovation comes in four flavors: product innovation, operational innovation, customer experience innovation, and business model innovation. Corporate innovation isn’t easy. Stefan Petzov, an innovation professional at Swisscom, a Crowd Companies member, has outlined the many challenges that innovation programs inherently face. In particular, the first challenge he lists out is that companies struggle because “the expected outcome is not clearly defined.” Clarity is paramount. One way to solve this top-level challenge is to ensure your company and innovation partners have a standard nomenclature for how innovation is used. We looked at structuring this language around products, business units, or functions, but found it … Continue readingCorporate Innovation Impacts Customers in Four Ways

Three Challenges for the Next Economy

There are three topics that should be discussed as we forge the next economy: the Autonomous World, Silicon Valley feudalism, and ensuring human safety from advanced robots. For the second year, I’ll be at Tim O’Reilly’s Next:Economy Conference in San Francisco on Oct. 10–11, which brings technology, the economy, and forward-thinking industry leaders together under one roof. These events set the tone for the impacts of technology on businesses, governments, societies, and global economies. I see three red-hot challenges for the Next:Economy: The Autonomous World. What role do humans play when robots do jobs better? This topic, which was discussed at the last Next:Economy, was a major theme –yet we’re nowhere near from settling it. Did you know the White … Continue readingThree Challenges for the Next Economy

Corporate Innovation: When to Build and When to Buy

Should large, established companies innovate internally or just acquire successful startups? This post is part of our continued series on Corporate Innovation, in preparation for a research report, on this topic. Last week, we published  The Ten Types of Corporate Innovation Programs which looks at broad swath of options, and in this post, we’ll dive into two major choices that companies are often weighing out: building their own, or acquiring startups. Build: Corporations invest in building innovation internally, but with risks to their success. The upside of companies building their own startups from within is that they can tailor them to their specific business strategy. I’ve spent time with Nestle, which successfully built out its home coffee line, Nespresso, to … Continue readingCorporate Innovation: When to Build and When to Buy