It’s not just the tech sector that is startup crazy – technology is a key enabler of disruptive innovation in every industry, and food and beverage is no exception.
Startups are the talk of the town among both large and small companies, from Silicon Valley to Sydney, and in agriculture, manufacturing and retail and every sector in between.
Many executives scratch their head as more nimble private and venture capital backed businesses nibble away at the edges of their empires.
Their disruptive offerings are slowly but surely taking away existing customers or offering better value goods and services to their customer base.
Moreover, it seems as though the speed of innovation and new products has accelerated beyond what is possible in some companies and the failure rates are getting worse not better for new product development.
So how can traditional companies protect their core business against this endless wave of disruptive innovation whilst simultaneously executing the business plan for this quarter and financial year?
There are a number of strategies, structures and frameworks that companies can use to upskill their people, become an ambidextrous organisation, build an innovative culture, and create their own disruptive innovation.
Creatovate specialises in the critical thinking frameworks that startups use to rewrite business models, innovate beyond product and win with in the market.
At the upcoming Disruptive Innovation Industry Forum in August, I will share some of these, delivered in a way that can be used by traditional companies to unleash the intrapreneurs who are already working inside their businesses.
Dermott Dowling is managing director of innovation business consultancy @Creatovate.
Published on 24 Jun 2015 at http://www.foodanddrinkbusiness.com.au/news/why-do-elephants-find-it-hard-to-dance