For many established companies the ability to successfully innovate has become a critical factor to stay competitive and relevant. It has also become one of their biggest challenges. On the one hand, the core business must be optimized, on the other hand, new customer-centered innovations should provide impulses for growth. There are many possible solutions to this "innovator's dilemma", however not very promising. If start-up methods such as Design Thinking or Lean Startup are used in a complex corporate environment, ideas often fail in the implementation phase. If, on the other hand, innovation is outsourced to separate units such as Innovation Hubs, Labs or Accelerators, their chances of success are usually reduced to the level of a start-up. The way out: Established companies need to learn how to work with strategies, processes and models that leverage existing strengths from the core business while taking the complexity of implementation into account.
According to KPMG's Global CEO Survey, 65% of CEOs in large companies are afraid of being overtaken by new, disruptive start-ups. They often feel like they're sitting in a bulky "tanker" that cannot react to changes as quickly as an agile "speedboat". However, many established companies have already achieved great success with their existing customers, networks, processes and resources. According to a study by Bain, the chances of a start-up achieving significant success is miniscule - 1: 17'000. Anyone who is aware of this will recognize: by using their existing strengths, established companies can sustainably win the innovation race. By doing so the chances of creating a successful innovation increases more than 2'000 times compared to those of a start-up. From 1: 17'000 to 1: 8 (according to the same study).
The Center for Corporate Innovation presents appropriate strategies, processes and models to use the traction of established companies to efficiently meet new customer needs – thus ensuring future competitiveness through successful innovation.
Products and services offered by start-ups often have a high level of customer fit. The challenge for start-ups is to gain the necessary traction to generate a sustainable value of at least 500 million USD and 10 years of profitable growth. According to a study by Bain, the chances for this are only 1: 17,000. These odds increase rapidly for large companies that are able to use their existing traction (meaning the strengths of the core business) to satisfy new customer needs – from 1: 17,000 to 1: 8 (over 2,000 times higher)
Source: „Das Comeback der Konzerne“, Sauberschwarz/Weiß, Vahlen
In corporate programs, innovation strategies and processes can be effectively learned and applied based on specific challenges. Executives, managers and employees can thus incorporate new impulses directly into the corporate context and make practical use of learned strategies and methods. Targeted employee programs can also strengthen the innovation culture within the company and ensure the rapid development of innovation skills, e.g.:
Director of the Center for Corporate Innovation at SGMI Management Institute St. Gallen
Lucas Sauberschwarz studied Business Administration majoring in business informatics at the EBS University of Economics and Law. He has held senior management positions at L'Oréal and Schwartauer Werke and built a digital agency with more than 100 employees from the ground up. In his current work he specializes in the systematic development of efficient innovations for large companies. He has already collaborated with more than half of the DAX companies, as well as with numerous large international corporations and SMEs. Using the proprietary 5C methodology, he has undertaken over 50 successful innovation projects in more than 20 different industries in the last years. Recently, Lucas Sauberschwarz published his book „Das Comeback der Konzerne“ (‚The Corporates Strike Back‘) which has repeatedly been an Amazon bestseller in several categories. He shares his many years of experience and knowledge at conferences, trainings and universities focusing on:
Co-Director of the Center for Corporate Innovation at SGMI Management Institute St. Gallen
Florian Lanzer studied Business Administration, Business Economics, Management, Film, Marketing and Strategy at University of Goettingen (GER), University of California Los Angeles (US) and Warwick Business School (UK). He worked in Human Resources in the energy sector, and founded an e-commerce startup in Berlin. In his current position, he is leading innovation and digitalization projects for large corporations. Together with his team, he worked for more than half of Germany’s DAX-corporations, helping them reach their corporate goals through efficient innovation. As co-author of the upcoming book “Good Job! New impulses for an absurd working world”, he spent the last years researching “New Work” and it’s potential contribution for sustainable corporate success. As a lecturer and consultant, he focuses on the following areas in particular: