In today’s episode of the Idea to Value Podcast, we speak with Andy Binns, Co-Founder of Change Logic and author of Corporate Explorer: How corporations can beat startups at the innovation game.
Andy has worked as a strategic advisor to Leaders for decades, with experience at McKinsey, IBM and now Change Logic. We speak about the myth of only startups being able to innovate, and what it takes for large corporations to be able to execute disruptive innovations.
Topics covered in this episode:
- 00:01:30 – Andy’s background with IBM’s Emerging Business opportunities, and how this brought him to the idea that corporations can innovate better than startups
- 00:04:15 – Where the myth that large corporations cannot innovate comes from
- 00:07:00 – How survivorship and confirmation bias make people forget all the startups who tried but failed, and how corporations should not try to copy startups
- 00:08:30 – How LexisNexis innovated to create an entirely new business model
- 00:11:00 – You need different capabilities to execute disruptive and transformational innovations, rather than incremental improvements
- 00:12:30 – Insights from Steve Blank on running an ambidextrous organisation, and it not just being about exploring vs exploiting
- 00:18:00 – The importance of social capital and overcoming corporate antibodies
- 00:22:00 – Two case studies of a company which successfully and unsuccessfully attempted to disrupt themselves