Innovation Matters - Even for Big Companies!
"The overall message seems to be that your business will get bigger if you make sure that certain parts of it stay small enough to innovate."
I came across the below article in some work I was doing and really enjoyed the way it acknowledges the importance of innovation in established businesses.
This is a quick read that:
1. Summarises why big companies struggle with innovating: more to lose, short term thinking, same old faces and structural issues.
2. Presents a few solutions - one of my favourite being the Amazon ‘Two Pizza’ rule - "every individual team within the larger business should be small enough to be fed by two large pizzas, preventing the kind of top heavy management which slows decision making".
We spend a lot of time in Australia growing and supporting a 'start-up' culture, which of course has been an exciting breeding ground for creativity and many great products.
However, equally important to our economy is innovation in established businesses.
Innovation in established businesses helps to ensure not only their survival, but their ongoing competitiveness in an ever changing global market. And ultimately, these businesses too are the breeding ground for creativity and many great ideas - let's not forget this.
Enjoy the read: