The days when innovation was the sole responsibility of the chief innovation officer or corporate venturing group are over. Today companies are realizing they need to harness the innovative power of all their employees if they want to grow.
This week, we convened innovation heads from places like Chubb Insurance, Estee Lauder and Macmillan and mixed them with a world-renowned innovation expert (Professor George Day from Wharton) and one of the leaders of GE’s Crotonville leadership training center (Bob Cancalosi). Over four hours, they teased apart our shared challenge: how to unlock innovativeness, entrepreneurship, and growth trapped inside organizations.
You know you are an entrepreneur at heart, but you find yourself working inside a large organization. How do you cope?
“If you don’t like your job, quit.” This is part of the manifesto of holstee.com, one my favorite entrepreneurial companies, and is perfect for a conversation I am having with the head of strategy of a large financial services technology firm. We are in his office overlooking Park Avenue in Manhattan. He’s laying out for me some of the challenges faced by a growing number of firms that are trying to inject a more innovative, entrepreneurial spirit into their cultures.
Every week I interview five to 10 innovators and innovation experts as part of my book project. Each time I ask the same question: In your experience, what are the greatest barriers to innovative ideas realizing their potential inside large organizations?
You’ve got the idea. You know it will work. If only you can move fast enough, keep up the pace of those younger, smaller startups. The opportunity should be yours but you worry that bureaucracy will slow you down.
Thousands of years ago, hunter-gatherers huddled around campfires would share stories of the “great hunt” or battle. Our heroes in these narratives left the safety of camp, clad in leather, wielding swords, stepped into dark woods to battle a mythically large creature or enemy, and returned in glory with meat to feed a village.
I wrapped up 2014 with a flurry of mind-opening interviews. I spoke to everyone from Steve Blank, the man who invented the “lean” concept, to the man who first applied that concept in a major corporation (GE). I spoke to chief innovation officers and entrepreneurs responsible for some of the most memorable
Sociologist Gerhard Emmanuel Lenski dedicated his life to understanding how societies evolve. Why humans evolved from hunting tribes to agricultural communities to Roman Empires into super-cities like Hong Kong, Shanghai, New York.