‘Creating the Organizational Structures that Liberate People to Innovate’
Oct 17, 2019
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Kaihan Krippendorff, CEO of Outthinker, discusses the value of innovating from within and describes the traits that characterize internal innovators. Topics include overcoming organizational inertia, the role of incentives in driving innovation, recognizing threats and opportunities for innovation, and the benefits of a dual degree program.
Internal innovation is key for established companies to adapt to new technologies and market disruptions.
Creating a culture that supports risk-taking and empowers employees to navigate processes is crucial for driving innovation from within.
Deep dives
Breaking Organizational Inertia and Thriving Through Internal Innovation
In this podcast episode, the guest discusses the challenge faced by established corporations in terms of innovating and adapting to new technologies and market disruptions. While startups are often seen as the primary drivers of innovation, it is important to recognize that many significant innovations actually originate from within established companies. The first step to fostering internal innovation is to acknowledge that it is difficult but also recognize that being an entrepreneur has its own challenges and failure rates. By removing barriers and enabling internal innovators to overcome them, companies can increase the flow of internal innovation.
Enabling Employees to Drive Innovation from Within
The podcast highlights the importance of enabling employees to drive innovation from within the organization. It acknowledges that while established companies need processes and structures to maintain order and scale, these can also inhibit innovation. The key lies in empowering employees to navigate these processes, generate ideas, and gain support for their innovative initiatives. By creating a culture that allows for risk-taking, adopting agile approaches, and recognizing the importance of aligning with the organization's goals and business models, employees can effectively drive innovation from within.
Key Factors in Enabling Internal Innovation
The podcast points out key factors that contribute to successful internal innovation. These factors include creating organizational structures that foster innovation, recruiting talent that is intrinsically motivated to innovate, and establishing a culture that supports risk-taking. Additionally, leadership plays a crucial role in setting the tone and guiding the innovation process. The podcast presents examples of companies that have successfully embraced internal innovation, such as Netflix, Amazon, and MasterCard. By implementing these factors, companies can remove barriers to internal innovation and drive sustainable growth and success.