Building in a Large Corporation
In this week’s episode of Inside Outside Innovation, Brian Ardinger talks with Christopher Bailey and Kim Bullock with ExxonMobil. They discuss successes and challenges of innovating in a large corporation. Christopher and Kim will also be speaking at the Back End of Innovation Conference in Phoenix, AZ on Oct 17-19, 2018.
Key corporate innovation strategies and lessons learned include:
- Create space for idea creation and tools to process.
- Protect people and their time from their existing roles.
- Train the managers of intrapreneurs on how to treat them differently.
- Teach the right senior leadership how to understand innovation.
- Develop a VC board/Accountability model to guide investments in new ideas. Innovation teams return for more funding and identify what they need to learn.
- Try smallest versions of everything and then iterate, but be prepared to kill or park ideas that don’t move. Need clear decision points. Killing ideas was a considerable hurdle to get past.
- Use data to validate every step.
- Create internal education opportunities like a podcast.
At the BEI conference, Christopher and Kim will share more of their journey and stories through a two-hour workshop. They want people to leave with information they can use. Key ideas will include:
- Understand healthy tension between intrapreneurs and leadership.
- Employees can’t work differently when they use the same old tools.
- New innovation teams can’t be treated as they always have.
If you’d like to connect with Christopher Bailey and Kim Bullock and learn more about their Corporate Innovation initiative, message them on LinkedIn.
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