Page 168 - Grow from Within Mastering Corporate Entrepreneurship and Innovation

Which Model Is Right for You? 155

• Evolve. Objectives and contexts change over time, and
so must programs for corporate entrepreneurship.
Expectations need to be continuously explained and
managed.

Point the Way
We started this chapter by discussing the problem of articulat-
ing a strategic vision for growth, as this is a critical—yet often
insufficiently considered—starting place for launching a cor-
porate entrepreneurship effort. The key question is this: What
should we be pursuing, given what we know and our level of
commitment, and in what time frame? If this question is
answered too narrowly, the company will get more of the same.
If it is answered too broadly, people won’t know where to start.
When everyone knows what they’re looking for, they’re more
likely to find it.
The Innovation Radar, described in Chapter 2, provides one
way to articulate strategic direction. Successful companies tend
to focus on two to four key dimensions, based on corporate
strategy, and to build broad competency in them—including
flexibility and continuous learning—as a competitive advan-
tage. Corporate leadership may undertake strategic planning
efforts to identify which dimensions of corporate entrepre-
neurship look most promising for creating competitive advan-
tage, then provide these to the person or team formulating the
corporate entrepreneurship approach. For example, P&G’s
“connect and develop” approach leverages its strength and
resilience in value capture, customer knowledge, presence, and
brand. Apple Computer’s exquisite design of complete cus-
tomer solutions—not just the product designs for which it is
famous—combined with its branding and networking prowess
is the key to its success in corporate entrepreneurship. Google