A culture of intrapreneurship: Three practices for organizational innovation.

In business, reinvention doesn't happen overnight. It is the result of years of extensive innovation experimentation to identify and implement solutions to evolving challenges.

However, some senior leaders view innovation only as a one-off, such as a new product, service upgrade, or go-to-market strategy. Misunderstandings can prevent companies from making progress toward important goals and making a lasting impact on their industry. An expert faculty member from the Cornell SC Johnson College of Business and her ILR School recently shared his three tactics that organizations can use to integrate innovation across their operations.

1. Create a culture of intrapreneurship.

Rather than limiting outside-of-the-box thinking to specific projects, business owners and managers can coach their employees to act like entrepreneurs within their businesses. Through this approach, known as intrapreneurship, leaders help team members function with autonomy and responsibility, and continuously contribute new and creative ideas.

Neil Talaro, senior lecturer in management and organizations at the Cornell Nolan School of Hotel Administration , that organizations approach innovation as a single task. Innovation is a continuous process that requires commitment, adaptability, and a willingness to embrace change.

According to Talaro, great innovation starts at the C-suite and spreads down through the organization. Executives can encourage creativity from the top by breaking down rigid hierarchies and allowing employees at all levels to share ideas. Additionally, managers can foster cross-functional collaboration between teams.

Talaro said the companies best able to innovate when they need it most are those that innovate in small ways every day. These organizations are run by teams who bring diverse expertise and perspectives to each challenge they face. This approach results in a more forward-thinking culture that can sustain your business in the long run.

2. Supports risk-taking and long-term thinking.

Innovation often involves risk. To help employees develop a positive risk mindset, leaders encourage and reward experimentation, set realistic expectations for results, and treat failure as a stepping stone to punitive outcomes rather than Make it clear that this is a learning opportunity.

Yuan Shi, assistant professor of management and organizations at the Nolan School, offers additional guidance for executives and managers discussing innovation with supporters and shareholders.

Despite the ultimate impact of these cross-domain concepts, external investors may not immediately see the value of ideas that bridge different fields, Shi said. Breakthrough innovations require considerable patience from investors and can face threats from short-term market thinking. Companies need to embrace longer time horizons and prioritize long-term benefits.

Shi advises leaders to communicate transparently, detailing the competitive advantage and financial value of innovation, and provide regular updates on progress with evidence of impact. are doing.

3. Allocate resources for innovation.

While a lack of resources can be a barrier to successful innovation, often the biggest obstacle may be the tendency not to view innovation as an initiative that requires concrete support. Brian Lucas, assistant professor of organizational behavior at the Cornell ILR School, says leaders may want big ideas, but without creativity, they're unlikely to get them.

According to Lucas, people think that a breakthrough idea is something that pops into someone's head, perhaps while they are taking a shower, riding the bus, talking to a co-worker, or just thinking hard. He believes that it is something that comes to mind quickly. Leaders believe that calling for innovation is enough. Then eventually one of his employees will come up with a good idea. Sometimes things like this happen. But breakthrough ideas are often the result of deliberate creative work that requires resources.

Lucas encourages executives to consider four categories in their efforts to support innovation: people, time, space, and money. Ask yourself how many people are working on new ideas and whether they can bring in others if needed. Are employees given time to focus on innovation, or are they expected to multitask? Are there dedicated spaces for creativity and conversation? Data, research, prototyping materials, and consulting services , do you have money to buy things like travel?

As the use of artificial intelligence (AI) increases, companies can also take steps to ensure that human knowledge and emerging technology can successfully coexist. Companies can use technology as a tool for employee innovation and provide the upskilling resources needed for new employment opportunities.

Historically, advances in technology have led to jobs and economic growth, Lucas said. Companies and leaders who view innovation as a continuous process are best placed to use AI as a resource for creativity and benefit from its potential.

Gain expertise in cutting-edge innovation practices with one of Cornell University's more than 30 online leadership certification programs, including intrapreneurship, innovation strategy, and leadership agility.

Sources 1/ https://Google.com/ 2/ https://news.cornell.edu/stories/2024/04/culture-intrapreneurship-3-practices-organizational-innovation The mention sources can contact us to remove/changing this article

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