Big Companies Can Unleash Innovation
The Bloomberg website published an article which noted that large companies are now better positioned to innovate than ever before. The innovation revolution spurred by venture capitalists decades ago has created the conditions in which scale allows big companies to shift from shackling innovation to unleashing it. Taking a page from start-up strategy, large companies are embracing open innovation and integrating entrepreneurial behaviors with their existing capabilities. Innovation increasingly involves creating business models that tap big companies’ unique strengths. Medtronic is an example of this.
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