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  Six Keys to Release Ideas for Profitable Growth  Premium

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As the recession fades, corporate leaders need to switch from crisis mode to thinking more seriously about how to grow revenues and create value once again. Corporate entrepreneurship -- the creation of new businesses inside established corporations -- offers a strategy for profitable growth and serves as an attractive alternative to old, acquisition-led, inorganic growth strategies. Based on the author's work collaborating with companies to help them create new business units, this article highlights six key questions to help senior executives reflect on where they currently stand in relation to corporate entrepreneurship. It also draws on the real-life experiences of corporate entrepreneurs to suggest better ways of boosting buy-in for their new business ideas. By considering state-of-the-art practices and learning how Silicon Valley entrepreneurs operate, the author reveals smarter ways for customer-facing managers and employees to generate ideas, assess their potential and measure their progress -- so that the start-up spirit finds free expression in the corporate world at a time when it is greatly needed.

Tools and Frameworks:
> Poses six key questions that senior executives, heads of business units and corporate divisions should start asking themselves to reflect on where they currently stand and to identify new corporate entrepreneurship initiatives.
> "Seek and Ye Shall Find" details how executives from major European corporations are traveling the world in search of new business opportunities, with some establishing outposts in Silicon Valley to learn more about innovation and entrepreneurship close to the source.

Examples Cited:
BMW, Volkswagen, Renault-Nissan, General Electric, Qualcomm, Google, Dow Chemical, BP, Microsoft, WhatsApp, Facebook, Nokia, Apple, Siemens, Alstom, Schneider Electric, Solvay

Research Basis:
Based on the author's work at IESE, including a custom program designed to help executives create new business units for their companies and a case study based on this program, which received Honorable Mention from the European Foundation for Management Development (EFMD).

About the Author:
Hakan Ener is an assistant professor of Entrepreneurship at IESE Business School.

This article is based on:  Six Keys to Release Ideas for Profitable Growth
Publisher:  IESE
Year:  2014
Language:  English
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