Leading Innovation for Corporate Growth – LICG is a joint program with Stanford University that focuses on the senior management role in supporting and orchestrating corporate entrepreneurship initiatives.
What is your corporation’s return on investment in New Business Creation (NBC)?
Corporations generally acknowledge that consistently increasing revenues and earnings requires more than M&A, cost-cutting and creative price increases. At some stage, these options will certainly show diminishing returns and will eventually evaporate. New initiatives, which leverage new ideas and explore different territory, can dramatically increase customer value and help corporations to develop new businesses. We label such efforts corporate entrepreneurship initiatives.
Research shows that we often embrace corporate entrepreneurship through cycles of heavy investment in such initiatives, followed by periods of heavy consolidation, and leading to unsatisfactory returns. In the cyclical nature of entrepreneurship, we often overlook opportunities for capturing value – especially those that are not financial in nature. In fact, most new business initiatives will not succeed financially. Recognizing this, it is critical that companies extract value by learning from the process and harvesting those lessons for future initiatives. In short, companies must create sustainable, systematic processes for New Business Creation.
The goal of this initiative is to support the formation of self-reinforcing New Business Creation processes which yield attractive returns. We are pursuing this goal through offering a program for corporations and selected teams of executives. The program, through its action-learning format and focus on your specific corporate challenges, will allow executives to increase the value captured from their New Business Creation programs.
We invite you to take part in an initiative that, in its first stage as a US-Denmark cooperative effort, will help companies create core competencies in leading corporate entrepreneurship. The program has its roots in both Denmark and the US. In Denmark, DTU has been a pioneer in intensive action-learning programs on corporate entrepreneurship. In the US, Stanford University, with extensive experience in corporate and independent start-ups at the heart of the Silicon Valley eco-system, from Google to Tesla Motors, is partnering with DTU to create this unique and comprehensive program.
We have combined forces to create a different, corporate-centered action-learning experience, centered around three modules: Discover innovation and New Business Creation leadership challenges(a half-day, in-company kickoff course), Design initiatives that can increase corporate entrepreneurship effectiveness and efficiency (one week at Stanford), Implement and mobilizing for Change (a two day course at DTU). The program is dedicated to increasing your return on investments in innovation and corporate entrepreneurship and to developing sustainable, systematic processes for New Business Creation.
Program Overview
Stanford and DTU offer an opportunity to join an action learning process focused on the mindsets, capabilities and tools necessary for successful corporate entrepreneurship, and to provide an opportunity to apply these to the key innovation challenges of the participating corporations. The program focuses on corporate or divisional level entrepreneurial leadership processes and organization. The program brings together core teams of 3-4 people from 6 corporations that participate in 3 modules.
Module 1: Discover your innovation and New Business Creation competency profile. Module 1 is a half-day in-company kickoff course and is designed to identify your key executive NBC leadership challenge that will be brought to the weeklong Module 2 session at Stanford.
Module 2: Design effective and efficient corporate entrepreneurship initiatives. An intensive, action-learning program at Stanford University in California provides the program’s participants with the tools necessary for effective and efficient corporate entrepreneurship, that they can apply to develop their own NBC leadership challenge proposal.
Module 3: Implement and Mobilize for Change. Back in Denmark, Module 3 focuses on how you can prepare an effective transformation plan and in addition mobilze your organization change by winning hearts and minds and focus on your role as senior executives.
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