How can a big company build a culture of innovation and risk taking?
business psychology sociology public health business culture corporations processess
$1,600
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20 months ago
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A well known trend in the business world is that as a company grows and scales, red-tape, endless approvals and legalities can slow the pace at which goals can be accomplished. Specifically it can become much more difficult to make big, bold, risky decisions that can impact the direction of the company. Large organizations have trouble attaining a “start-up mentality”, meaning employees have a lot of buy in to company success and drive to make changes.

As a company on the Forbes Global 2000, we don’t want to fall into the trap of having innovation stagnate due to our size. We want to know what you think about how to maintain a faster and leaner company culture within individual teams and our organization as a whole. What practices and processes can we put in place to establish a company-wide entrepreneurial mindset?

Deliverables

Propose a way to build a culture of innovation and risk taking in our teams and organization:

1. How would you describe a startup culture or a culture that focuses on innovation and risk taking?

2. How would you establish this type of culture at a bigger company

3. How will you track the success of your cultural shift?

4. (Optional) Mock-ups, charts, videos, graphs or any other visuals that support your idea.

You can suggest ideas that have impact on a smaller scale or a broader action plan to change an entire organization. Any ideas to encourage innovation, entrepreneurship, and problem solving are welcome.

Things to consider:

- Change Mindsets! Many of the practices that slow companies down and prevent innovation exist because of entrenched mindsets. Your idea should challenge old, outdated notions of how a company should be run.

- Cultural pillars- Consider not only what actions could be taken to enact change, but what cultural pillars should be established in the long term.

- Teams matter! Shifting the culture at the entire organization is great, but ideas that can be implemented within smaller teams are awesome too!

- ”Start Up Mentality”- You can consider this project to be a way to establish a they type of mindset associated with startups in a larger organization.

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
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