One of the areas I've chosen to focus on for product development is corporate innovation because I see significant untapped potential there. While many companies recognize this and implement programs like idea portals, incubators, hackathons and leadership training, these initiatives typically engage only about 5% of employees.
This exclusion stems from corporate structures designed to hire specialists rather than entrepreneurs. Employees are rewarded for excelling within stable roles, making them less likely to embrace risk or change.
The challenge lies not in a lack of innovation but in harnessing it inclusively. Untapped ideas often flow elsewhere - to competitors, personal side projects or new ventures after employees leave.
While some argue that focusing on the 5% is intentional to avoid risks like the Innovator's Dilemma, such constraints limit innovation.
#corporate-innovation #intrapreneurship #employee-engagement #entrepreneurship #innovation-strategies
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