Corporates are large and generally successful enterprises, that have build a successful business and are in a struggle to sustain their success. Studies show that average life expectancy of all firms, regardless of size, is 12.5 years, underlining the need for innovation. Large companies need to transform itself each decade. Critical success factors are : sensitive to your environment, learn & adapt, unconventional thinking & experimentation and being flexible
- Finding the right balance between existing and new business
- Adding new business but this requires a different way of working, set-up and mindset that is conflicting with your business of today
- Eliminating the ‘not invented here syndrome’ limits you to have a good overview of and access to what is happening outside your company in new areas
- Dead ends are too often seen as a failure instead of a learning experience
- Your current performance managements system only rewards the business of today.
- Needing employees to think and act more like entrepreneurs