Are you finding it difficult to execute on your innovation strategy? The Institute’s “Innovation Readiness Assessment” should be the first step:
Successful innovation – the sustainable and profitable conversion of idea to income – is the key to business growth. Making ideas productive involves both optimized employment and early release of economic value from existing and emerging intellectual property. Timely, sustained and profitable monetization of innovation is especially important, but challenging for established enterprises. Planning and executing innovation based growth challenges today’s business leaders and the organizations they manage in three ways: (i) Do we have the necessary skills, organization and culture – i.e. capability to drive innovation? (ii) Do we have the resources – i.e. capacity – to identify and extract value from innovation in a timely way? and (iii) Do we adequately understand our opportunities and the threats to our existing IP?
Research has shown that innovation is essential for companies to grow and stay competitive. Silver Park Group has been working to build a practical solution to the growing need for innovation to drive business and economic growth. After hundreds of interviews and working collaboratively with selected partners, Silver Park Group has announced the formation of The Institute for Intrapreneurship. The Institute brings together business, academia and government to concentrate on driving “growth centered innovation” within established enterprises.
An “intrapreneur” is an entrepreneur who understands how to navigate internal mine fields while mastering the use of corporate resources to drive innovation within an established enterprise. Intrapreneurship is inclusively the art of being an intrapreneur, the development of corporate cultures of innovation, and support of responsive leadership, organizational structure, resources and validating research to drive revenue from breakthrough innovation. Intrapreneurship brings together the elements, including the techniques and processes, required to convert idea to invention to innovation to income to growth (i4g).
The Institute for Intrapreneurship engages targeted research to answer key growth questions, applies experience with the research to identify and address the core obstacles to growth, and crafts structural and operational recommendations to help companies better identify and capitalize on innovation as an asset.
An immediate deliverable of The Institute is the Innovation Readiness Assessment – a focused effort to determine an organization’s capabilities to engage in innovation as a foundation element of the corporate culture. The Assessment enables executive teams to determine the actions and determine required to ensure innovation becomes a corporate strength.
The Institute would welcome the opportunity to help your company accelerate movement from recognition of the importance of innovation to having innovation become a core competency driving economic and strategic benefits, and growth.
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