Can Corporate Organisations Engage with the Enterprise Agenda?

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Can Corporate Organisations Engage with the Enterprise

Agenda?Professor Roger Mumby-Croft

Warwick Business School

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➜ Identifying, shaping, developing, capturing, and capitalising on opportunities within an existing organisation

➜ Turning these opportunities into successful ventures

➜ Enhancing long-term value of an organisation to its employees, owners and society

What is Corporate Entrepreneurship?

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What are the foundations of Corporate Entrepreneurship?

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1. Innovation

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2. Risk taking

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3. Creativity

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➜ Corporate VenturingStarting a business within a business

➜ Resource Re-organisationRe-arranging existing resources/capabilities

➜ Industry Rule BreakingChanging the rules of competition

➜ IntrapreneuringInjecting entrepreneurial behaviours among employees

Four types of Corporate Entrepreneurship

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“An intrapreneurial culture must embrace constructive failure to score big victories.”

Tom Nies, CEO of Cincom

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“It is amazing what you can accomplish if you don’t care who gets the credit.”

Harry Truman

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➜ Every organisation must have processes and rules

➜ BUT! When we catch ourselves saying “that’s not how we do things” we should stop and reflect…

➜ Journeys require maps and itineraries; but sometimes we need to take detours when unusual or unexpected opportunities develop

Be willing to break precedent!

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Innovation gets harder the larger the organisation becomes…

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➜ The larger you become the harder it is for anyone to know what everyone is doing

➜ The specialisation and separation that help University departments maintain focus also hamper communications

➜ Internal competition magnifies the problem; it encourages groups to hoard rather than share knowledge

Barriers to innovation

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1. Inertia that no one is willing to changeMost organisations are governed by implicit and explicit

systems which, in many cases, people are reluctant to change. Many organisations use these systems to prove they already have the “right answer” effectively dousing creativity

2. HierarchyThe deeper the hierarchy the harder it is to get permission

for anything new. Hierarchies also create narrow career paths and myopic thinking. People lower down become dis-empowered

Causes of Intrapreneurship

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This needs to be changed to 21st Century Organisation – it is an animated build and I don’t know how RMC has done it!

Get Emma to fix this. 21st Century

Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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21st Century Organisation

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The way forward:4-key principles for success

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1. Communication

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2. Integration

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3. Sustainability3. Sustainability

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4. Choice