Fresco Capital Corporate Innovation 2017 Playbook
The days of a single management guru having a neat and tidy model of corporate innovation are long gone. For 2017, any company serious about innovation must constantly be scanning the landscape from diverse sources. To help you get a head start on your 2017 corporate innovation plans, we’ve compiled the best ideas all in one playbook covering the following topics:
- Corporate Innovation Strategy
- Engaging the Ecosystem
- Innovation as DNA
1. Corporate Innovation Strategy
How should companies approach innovation in an unstable world?
“Every contemporary company has to be a balanced mix of established products and new products that are searching for profitable business models.” — Tendayi Viki
Tendayi introduces a useful five part framework for how established companies can manage the inherent tension of managing both established products and new innovation. Read more…
How to set up a corporate innovation outpost?
“Successful Innovation Outposts typically develop over a period of time through three stages. In the first stage the Outpost focusses on networking and partnering in the Innovation Cluster in which it is based (i.e. Silicon Valley, Boston). In the second stage, it moves into Investing, Inventing, Incubating and Acquiring technologies and companies, and in the third stage building product(s).” —Steve Blank
Steve shares the details of the three stages of setting up a corporate innovation outpost, including key questions and milestones. Read more…
Is your innovation outpost working?
“You have no dedicated system for keeping track of startup ecosystem interactions and information.” — Tytus Michalski
Tytus reviews this and four more warning signs about innovation strategy and outposts along with the solutions for how to fix these problems. Read more…
2. Engaging the Ecosystem
Why should large companies work with startups?
“The most innovative companies are also the most valuable.” — Kite
Both the data and the anecdotal stories combine for compelling evidence that the most innovative companies are engaging proactively with startups in many ways to create more value for all stakeholders. Read more…
How to build a successful innovation ecosystem?
“Just as momentum is the product of mass and velocity, the ecosystem with the most participants and fastest turnover of ideas will be the most successful.” — Martin Curley
Martin provides case studies, context and 12 principles for successful ecosystem innovation across companies, customers and other partners. Read more…
Where are the opportunities in the global ecosystem?
“We love small businesses, we love young people, and we love women.” — Jack Ma
Jack Ma shares his views on global ecosystem opportunities and more during an interview with Stanford GSB. Read more…
3. Innovation as DNA
How to innovate like Google?
“To better understand how Google innovates, I took a close look at what it’s doing in one area: Deep Learning.” — Greg Satell
Writing for the Harvard Business Review, Greg uses Deep Learning at Google as a specific case study to learn about how the company has put innovation at the core of its DNA. Read more…
How to get started with intrapreneurship?
“Never before has there been such a push for employees to take ownership of their own corner of a company.” — Alyson Krueger
Alyson provides examples of intrapreneurship, overall context about why more employees are interested in this option and the benefits for companies. Read more…
What will change most in the next 10 years?
“That’s a good question. But a better question is: What’s not going to change in the next 10–20 years?” — Jeff Bezos
Peter Diamandis highlights this important point by Jeff Bezos about focusing resources on high conviction trends, and expands with his own ideas about what won’t change even in an unstable world. Read more…
What other content do you highly recommend about corporate innovation?