Tuesday, December 14, 2021

g-f(2)730 THE BIG PICTURE OF THE DIGITAL AGE (12/14/2021), Knowledge@Wharton, How Big Companies Can Cultivate Intrapreneurs

ULTRA-condensed knowledge

"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Digital transformation, Intrapreneurs (12/14/2021) 

OPPORTUNITY, Knowledge@Wharton

EXCEPTIONAL “Full Pack Golden Knowledge Container”

David’s Mindset in Goliath’s Body

  • The biggest risk to future success and becoming a disruptor is a company’s existing business model, culture, and bureaucracy. Every company was a startup once in its history, but most of the startup DNA mutates into mature corporate thinking over time — which is why most entrepreneurial talent chooses to leave. Cisco’s ability to retain more than 150 former entrepreneurial CEOs of previously acquired companies under John Chambers is an exception, not the rule. Running at digital speed and shaping the disruption in your market will require a different approach to leadership, culture, and talent than what has worked in the past.
  • You need the willingness to disrupt yourself on a continual basis, develop your own unique ambition to drive step-change outcomes for your customers and society, and create an environment where Intrapreneurs can grow and thrive. Then, you can harness the advantages of both the attacker and the incumbent to build your own unique advantage in the future digital battlefield.

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        Scott Snyder

        A senior fellow at Wharton’s Mack Institute for Innovation Management and author of the book Goliath’s Revenge: How Established Companies Turn the Tables on Digital Disruptors, and Bill Seibel, author of Press Go — Lessons Earned by a Serial Entrepreneur, and former CEO and founder of Mobiquity. Snyder is also Chief Digital Officer at EVERSANA.

        Extra-condensed knowledge

        Lessons learned, Knowledge@Wharton

        • If history has taught us anything, it’s that big corporations struggle with disruptive innovation. Whether it’s missing a new wave — like IBM underestimating the value of the operating system, Kodak underplaying the impact of digital photography, or JC Penney doubling down on brick-and-mortar stores as the ‘Amazon effect’ was taking over retail — big companies seem to lack the ability to innovate ahead of the next disruption. Instead, most big corporations become addicted to their business models and move from “risk-taking” in their early life to “caretaking” as they scale and mature, and then “undertaking” when it is too late to pivot to a new model before becoming obsolete.
        • The speed of digital innovation, accelerated by the recent events of COVID-19, has only intensified the pressure to innovate in large corporations and is increasing the gap between the innovators and pretenders. And it’s not for lack of effort. Over 75% of companies have some form of innovation accelerator or lab, yet over 90% of these labs fail to achieve real financial impact (Cap Gemini, 2019). 

        Condensed knowledge

        Lessons learned, Knowledge@Wharton 

        David vs. Goliath on the Digital Battlefield

        • A recent Dell survey of 4,000 senior business leaders found that 78% of C-level decision-makers believe digital startups will pose a threat to their organization now or in the near future. The same survey also reveals that 62% have already seen new competitors enter the market as a result of the emergence of digital technology. Gartner adds that 125,000 large organizations are launching digital business initiatives now and that CEOs expect their digital revenue to increase by more than 80% by 2020. Business disruption is real and it’s accelerating. It seldom comes hard and fast like Uber. Instead, it targets segments of a company’s products and services, and manifests itself as death by a thousand cuts. CEOs can decide to be either a Disruptor or a Defender. Both strategies are viable. Both require unbundling an enterprise’s products and services and exploring how innovation can impact each. And both are hard work.

        What Makes Startups So Disruptive?

        • Digital startups don’t waste time with consultants and flipcharts to find their top ideas or need to convince five layers of management to approve a new investment. They are typically born from the hypothesis of the founders to disrupt an existing market by creating a step-change in value compared to existing solutions. This requires a very different mindset compared with how successful corporate executives running mature businesses might think. Some of the ways these startups — or “Davids” taking on Goliath — think differently are:
          1. They Embrace Uncertainty
          2. They Pick Their Team
          3. They Value Agility
          4. They See Opportunity in Low-end Clients

        How Can Goliaths Out-innovate the Davids?

        • Given the unique advantages of startups to create new ventures, how can we harness the strength and scale of established companies — or Goliaths — to beat them at their own game? Below are three pathways for large enterprises to turn the tables on disruption.
          1. Develop a Second Speed
          2. Cultivate Intrapreneurs
          3. Help Startups to Scale

        Some relevant characteristics of this "genioux fact"

        • Category 2: The Big Picture of the Digital Age
        • [genioux fact deduced or extracted from Knowledge@Wharton]
        • This is a “genioux fact fast solution.”
        • Tag Opportunities those travelling at high speed on GKPath
        • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
        • Type of validity of the "genioux fact". 

          • Inherited from sources + Supported by the knowledge of one or more experts.


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