It has been well-documented that big companies typically struggle with innovation. Once companies get to a certain size, their investors become more conservative, their leaders less entrepreneurial and their employees less willing to stick their necks out with “out-of-the-box” ideas that may not work out, resulting in them losing their jobs. Without innovation, companies get too “comfortable” with their past successes, and eventually go out of business (see Woolworth, Montgomery Ward, Borders, Blockbuster, American Motors, Pan Am).
Although that is largely the rule, there are several examples where entrepreneurship inside a large organization can and does prosper. This is the world of intrapreneurship, a term popularized by academic researcher Howard Edward Haller, management consultant Gifford Pinchot III and the great Steve Jobs back in the early-to-mid 1980s.
Read the rest of this post in Entrepreneur, which I guest authored this week.
For future posts, please follow me on Twitter at: @georgedeeb.
