Companies are sort of like sharks. Just as sharks must keep moving to avoid death, companies must keep growing. But large, well-established corporations often find it difficult to grow organically under an existing business model. Corporations are less nimble than startups, and more averse to risk. Because of reputation and shareholder expectation, they lack the ability to “pivot” the business when a product or idea is not working out as planned.
How can large corporations focus on product innovation in the same way that startups do? Through corporate entrepreneurship or intrapreneurship.