On the 27th of June Elliott Scott SG held their second seminar of 2019 in partnership with Arcadia Consulting and LinkedIn. Arcadia is a professional services consultancy specialising in sustainable, behavioural and cultural change.
Following an introduction from Karin Kim at LinkedIn, Raiyo Nariman of Arcadia delivered an engaging presentation on ‘Creating Intrapreneurs’ to our network of HR professionals at the LinkedIn offices in Singapore.
Creating entrepreneurship is the act of behaving like an entrepreneur whilst working within, and leveraging the value of, a large organisation. Intrepreneurship can be translated as being INNOVATION in Corporates: 84% of Executives say that innovation is important to their growth (McKinsey) vs. 95% of product innovations failing (HBS Professor Clayton Christensen) : demonstrating we need innovation to drive growth.
Approach to successful Innovation:
- Three typical things Companies say:
- Our people aren’t creative
- We don’t have a culture that supports innovation
- Let’s just build an App
- However, Innovation is not …
– About technology
- Innovation is about …
- Solving problems – it’s about getting new products and new business models to your customers
- The PATHWAY to TRANSLATING an idea or invention into a product or service which creates value (for which customers will pay!)
- The PATHWAY of translating an idea into an idea into a ‘product’, where everyone has a role, which creates value flows:
- CREATION: Crazy Ideas / Individual – experience the ‘a-ha’ moment
- IDEATION: Validated Concept / Team – multi-discipline support
- DEVELOP: Feasible Solution / Organisation – Development Execution; Infrastructure Funding
- EXECUTION: Delivered Outcome / Leadership – Vision + Strategy; Infrastructure; Talk & Walk
We can introduce the Innovation Pathway simply yet effectively by engaging the 3P’s: PROFIT (being tactical), PEOPLE (enhancing culture through education, application and mind-set) and PRODUCT (origination).
The evening was closed by Mark Albas, Head of Learning, at Arcadia followed by networking over drinks and canapés where the guests mingled with the Arcadia, LinkedIn and Elliott Scott teams. Our next event series will be in October 2019 with a new and exciting HR seminar subject. If you would be interested in attending, follow us on LinkedIn and keep an eye on our events page.