Find out how we can help you.Innovate with CC
Most companies have been built to deliver in environments of certainty, but today’s reality is anything but certain. Collective Campus helps organisations adopt the mindsets, methods and tools to successfully discover new business models and drive corporate innovation initiatives, without compromising the core business.
Technology is growing exponentially - doubling every 18 months. This is resulting in the flattening of barriers to entry and business model innovation that is threatening the upheaval of almost every industry.
- More than 50% of the S&P500 will be replaced in 10 years time at current rates of churn
- More than 1 in 3 listed companies face delisting in the next 5 years alone
- The average company lifespan has dropped from 60 in the mid 20th Century to just 12 today
The challenge for large organisations is that they’re not built to respond to these changes.
Large organisations have existing, repeatable, scalable business models that they are designed to deliver. They are not designed to search or discover new business models. Doing so requires a fundamentally different mindset and management approach.
However, corporate innovation is not as easy as flicking a switch.
The structure and culture at large organisations is fraught with policies, processes, systems, values and incentives that align themselves with delivering what is, instead of discovering what’s new - and you’re dealing with mindsets and behaviours that until now were rewarded for operating in ways that are the very antithesis of innovation - certainty first, minimise risk, cut costs, maximise short-term returns and maintain the status quo. After all, that’s how we make money today. Unfortunately, what makes money today won’t make money tomorrow.
If every idea your employees raise requires a business case and the projection of financials, even though the market is unknown or may not exist yet, then disruptive innovation is likely to be the last thing your organisation will commercialise. The reality is your organisation is probably more adept and geared towards sustainable, incremental innovation than anything else. But in an era where change is so rapid that it has already relegated the iPod to the annals of history, incremental improvements aren’t enough. Organisations need to move from stretching their existing S-curves to catching the next S-curve.
Initiatives in isolation are never enough. Training your employees in design thinking or some other methodology is great, but not if the surrounding structure doesn’t support its practice or there is no pathway to take ideas coming out of a design sprint further. In fact, it can actually be damaging to employee morale as well-intentioned corporate innovation programs often degenerate into what we call “innovation theatre” - all bark, no bite and disgruntled employees who often lose faith in and therefore investment in innovation programs.
So how do large companies go about flicking the switch on corporate innovation?
Culture change is a marathon, not a sprint, and while there is no silver bullet for corporate innovation, there are a number of things that large organisations can do to radically transform their ability to become more innovative, become adept at discovery and thrive and survive in an era of rapid change and increasing uncertainty.
We provide organisations with end-to-end corporate innovation solutions that address structural challenges, without throwing the baby out with the bathwater, develop employee capability and provide a number of pathways for organisations to discover, leverage their existing strengths and skate to where the puck is going.
With offices in Singapore and Melbourne, we can help companies with their corporate innovation agenda across all of Asia-Pac.
Much appreciation also from all of us at ASB! This workshop and the take-aways will help us to help us navigate the uncertainties and ambiguity ahead.
"It was a great format to get the right thinking going in the group as well as dealing/moving past some of the corporate gotchas!"
The Maddocks team really enjoyed the session from Collective Campus and each team member gained a lot from it. I am excited about next steps to progress the top ideas that came from the session and the team cannot wait to start putting some of what they learned into practice.
Steve and the team at Collective Campus facilitated and structured a hackathon event for us with great results. Collective Campus provided us with new and different experimentation tools and techniques, which enabled us to progress quickly on all our ideas.
The effects of the lean startup bootcamp that Sportsbet employees took part in are still being felt over a year later. Bootcamp participants are questioning things, running lean experiments where they’re not sure of the answers and moving faster to get better results.