More Thoughts on Large Companies and Innovation – An Oxymoron?

A few days ago, I posted a blog article on how large companies can (and should) leverage their strengths to create innovative solutions to problems. I was happy to see comments and two other posts in response, one in agreement, the other opposing my thoughts. I think it is fantastic to have differing opinions and wanted to share my follow-up thoughts on the topic.

Jennaromeo agrees with me in her post at  http://bizgovsoc4.wordpress.com/2012/09/11/innovation-at-large-companies-is-it-possible/. On the other hand, nyeinzawko thinks differently in http://bizgovsoc4.wordpress.com/2012/09/11/are-giant-corporations-really-a-place-for-great-innovations/#more-701.

I should clarify one of my points: I don’t make a broad arguement that large organizations are the catalysts for innovation. In fact, I don’t think that they are. My point is that large organizations have certain strengths that could make them catalysts if they learn how to leverage those strengths. Some organizations have figured out how to leverage their strengths. However, such organizations are more of an exception than the norm. I argue that all large organizations can and should create innovative arms as a way to secure future growth and, more importantly, relevance to customers.

As Drucker said “the purpose of a business is to create a customer.” Creation of customers only happen if an organization makes a concious effort, understand the evolving needs of current customers and unmet needs of non-customers. This is not business as usual.

In closing, I will emphasize the work done by intrapreneurs at organizations across the globe. While entrepreneurs get (well-deserved) recognition for their hard work, intrapreneurs in organizations are not well-understood nor appreciated. Large organizations that recognize the value of intrapreneurs and allow them to leverage the strengths of the organization can become the catalysts of innovation.

I welcome your comments on my blog. Please feel free to contact me at ferhan@ferhanbulca.com with relevant comments, ideas and thoughts.

 

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