Interested to know more about innovation, design thinking and Corporate Entrepreneurship Matrix for innovation purposes?
Programme directors at ESMT Berlin, Dr Jens Weinmann and Bianca Schmitz share their innovation expertise and points of view on leadership with The Leaderonomics Show hosts Audrey Tong and Sarah Lim.
Check this out: Failure Is A Stepping Stone To Success
Here are some key takeaways from the interview:
- Innovation is about bringing new ideas to life and making it feasible for business applications that will contribute to the bottom line of an organisation.
- In the spirit of innovation, we sometimes need to forget about organisational hierarchy and learn to be collaborative instead.
- From intrapreneurship, corporate incubators, accelerators, crowdfunding, hackathons, strategic alliances, venture capitalism, open innovation to acquisitions, these are some different approaches to innovations. They can be categorised clearly in a tool called corporate entrepreneurship matrix.
- Leaders today need to learn to let loose and trust his/her people to do their best in innovation projects. In a culture of innovation, it is okay if they experience failure and learn from it.
- Everyone ought to prescribe to the idea of YOLO (you only live once). Do something you really like in your lifetime.
- Learn to reflect on yourself. Actively ask for honest feedback from those around you.