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.