Tendayi Viki PhD MBA

The Corporate Startup

http://thecorporatestartupbook.com/

Innovation Principles

“In the latest turn of its wheel, strategy becomes about how to

make existing institutions as innovative as startups…”

Walter Kiechel III

Large companies are NOT startups…

Large companies must view themselves as an innovation ecosystem.

Yet innovators in large companies are often faced with false choices.

The first choice is to write a business plan.

This choice is based on the myth of innovation as a linear process.

Remember, if we are building something nobody wants,

it doesn’t matter if we are doing it on time and on budget.

Eric Ries

Author – The Lean Startup

The second choice is to just do it.

This choice is based on the myth of the visionary innovator.

Making stuff people want is not the same thing as;

asking them what to make.

Customers own problems Innovators own solutions

Both choices are based on the false assumption that: If we build it they will come.

Lean Startup is a method of systematically searching for

customer value and a sustainable business model.

In a great modern organization it is every employee’s right to know that

the thing they are working on matters to somebody other than

their boss.

Eric Ries Author – The Lean Startup

Three Steps to the Epiphany

Create Ideas - Test Ideas - Scale Ideas

The Corporate Startup is based on the understanding

that traditional forms of business planning or

visionary product development are like betting

on a hole in one.

The first step in innovation is to imagine a better world for our customers.

The second step is to find out whether we are imagining something people want.

The ultimate arbiter of value is the customer.

Get out of the building early and often.

There are no facts in the building.

The third step of innovation is to find sustainable and profitable business models

The final step is to scale our profitable business models

Innovation Capabilities

Product Best Practice Investment Best Practice Speed (Learn Fast): Days,Weeks, Months Balanced Portfolio: Core, Adjacent, Transformational

Design Thinking: Customer Needs, Jobs to Be Done Incremental Investing: Appropriate levels for innovation stage

Business Model Innovation: Assumptions and Hypotheses Innovation Accounting: How well are teams doing in their search

Experimentation: Testing with customers, lean analytics Innovation Metrics: Knowledge to Assumption Ratios

Iterative Development: Agile, Minimum Viable Products, Pivots

Product Council: Innovation investment management board

A Case Study

Pearson

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