Monday, June 23, 2008

Managing Radical Innovation

How to manage radical innovation
Robert Stringer. California Management Review. Berkeley: Summer 2000. Vol. 42, Iss. 4; pg. 70, 19 pgs

Stimulating Innovation in Large Companies

Strategy #1: Make breakthrough innovation a strategic and cultural priority.

Strategy #2: Hire more creative and innovative people.

Strategy #3: Grow informal project laboratories within the traditional organization.

Strategy #4: Create "idea markets" within the organization

Strategy #5: Become an "ambidextrous organization.

Strategy #6: Experiment with acquisitions, JVs, cooperative ventures, and alliances with outside innovative entities.

Strategy #7: Engage in corporate venturing.

Strategy #8: Establish a corporate venture capital fund.

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