The difference between corporate and startup idea development lies in how each approaches the birth of a new concept. It all boils down to the mindset and methodology, and let me tell you, they couldn’t be more different.
How do corporations develop ideas?
Let’s start with corporations. Corporations have ideas too, but they don’t begin with the idea itself. Instead, they start with a goal. Someone high up the chain says, “What we want is this,” and from that goal, everything else flows. The goal essentially becomes the idea. To achieve this goal, the corporation then identifies the necessary skills, experience, and resources. They think, “We need to fit this into our strategic plan,” and start looking for the right people, possibly outsourcing the key skills they lack in-house. It’s a structured, methodical approach: define the goal, then gather what’s needed to achieve it..
“Corporations start with a goal and gather resources to achieve it, while entrepreneurs start with their skills and resources, asking, ‘What idea best leverages what I have?'” Peter Baskerville
Read more for Registered users
You must log in to read the rest of this article. Please log in or register as a user. This protects the content for our Industry Professors.
- About the Author
- More info
Industry Professor in Vocational Education and Training. TAE Qualified teacher in Business studies at TAFE Qld. Developed content and delivered training on the Australian Vocational Education System to Teachers in China. Member of a Course Development and Accreditation Committee that created ‘Vocational Graduate Certificate in Entrepreneurship’. Developed learning and assessment products for IBSA (A Skills Services Organisation)
