Page 246 - Grow from Within Mastering Corporate Entrepreneurship and Innovation

Learn from E very where 231

profits—to create the context in which people can discover and
manifest innovative solutions for human needs and desires. As
the world’s population nears nine or ten billion in the present
century, the only way to build the kind of world we hope our
children and grandchildren can live in will be through a fun-
damentally sound, vibrant entrepreneurial sector. The good
news is that we can all play a part.
The more rapidly environments change, the more adroit
organizations must become. As we’ve seen, companies as
diverse as DuPont, Nokia, Cargill, and IBM have transformed
themselves multiple times in their more than 100-year histo-
ries, while most companies rarely survive past a decade. An
environment that is supportive of corporate entrepreneurs can
help companies assemble a portfolio of options on future out-
comes, providing multiple paths to the future and enabling
more rapid transformation. If even a small number of leading
corporations learn the art of new business creation, their com-
petitors must eventually respond or fade.
As globalization intensifies and competition diversifies, and
as companies become more effective at capitalizing on exter-
nal concepts and technologies, corporate entrepreneurship will
become more critical as a repeatable, dependable competency.
Companies that master new business creation build a bulwark
against obsolescence, generate vital paths to growth, and offer
top talent compelling opportunities to create the future.

Note
1. Razeghi reports on an organization that decided to skip a trade
show in order to cut costs. As a result, customers wondered if
the firm’s business was in trouble and began seeking alternative
suppliers.