Intrapraneurship in action Mona Vernon

Thomson Reuters

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The rules of strategic management have changed

Increased turbulence in IT intensive businesses: Average jump in number of places up and down the rankings from previous year - Top selling firms. !

McAfee, Andrew, and Erik Brynjolfsson. "Investing in the IT that makes a competitive difference." Harvard Business Review 86.7/8 (2008): 98.!

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Capturing value from innovation with lean

•  The new reality is that innovation is about good decision making in fast-paced environments

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Real-time input from users

Rapid testing & learning

Simpler products

Innovation with Ecosystem

•  Lead Users

•  Co-Creation

•  Experimentation

•  Lean

•  Minimum Viable Product

•  Less is More

•  Crowd Sourcing •  Open Innovation

Constantly engaging users to understand customer needs

Rapidly testing new ideas, learning from results, and integrating changes

Go to market with a minimum functionality allows for fast product releases and lead user feedback

Leveraging external partners, developer communities to co-develop better products

Build

Measure Learn

•  User Analytics

Businesses have to rethink competitive advantage in terms of cycle time and nurturing an ecosystem!

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Competing with ambidexterity

•  Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization

•  Intrapreneur-leaders are needed to create and operate an ambidextrous organization –  achieve breakthrough innovations –  while also making steady improvements to an existing business

"The best way to predict the future is to invent it." Alan Kay

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Innovation is sustained when it becomes systemic Systemic innovation

pilot

capability

system

valu

e

commitment

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THANK YOU @monavernon