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Innovation in the Corporate World

In: Industrializing Innovation-the Next Revolution

Author

Listed:
  • Suresh K. Sharma

    (Georgia Institute of Technology)

  • Karl E. Meyer

    (Open Range Capital Partners)

Abstract

Driving a culture that encourages game-changing innovation in the corporate world cannot be done without employing game-changing techniques. Using the same methods that created the innovation logjam to begin with – incremental improvements and small rewards leads to slow improvement in a world that rewards the fastest innovator. To move at start speed, actually start by driving forward as startups. In this chapter we walk through this process. We touch on the fact this is not exactly a revolutionary approach – it is used by some of the most innovative companies out there already. We flesh out how to establish this kind of a program in an existing corporation by matching up corporate processes and infrastructure to the startup continuum and the concept of an internal innovation hub, much as outlined in the preceding chapters. Finally, we close with the delicate topic of how to reward the people that have just stretched to create value for the corporation.

Suggested Citation

  • Suresh K. Sharma & Karl E. Meyer, 2019. "Innovation in the Corporate World," Springer Books, in: Industrializing Innovation-the Next Revolution, edition 1, chapter 0, pages 123-134, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-12430-4_10
    DOI: 10.1007/978-3-030-12430-4_10
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