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Large companies find innovation hard. Jessica Spungin, Adjunct Professor of Strategy and Entrepreneurship and Gary Dushnitsky, Associate Professor of Strategy and Entrepreneurship, discuss some of the key challenges with Alessandro Hatami, Partner at Pacemakers and former head of innovation at Lloyds. In the first part of this two part exploration, they consider the barriers to innovation in large businesses and why they are traditionally hard-wired to make it difficult for a truly innovative culture take hold, let alone flourish. Together they share their wisdom and some practical solutions to this complex and fascinating conundrum.
The bigger the corporate the tougher innovation seems to be. But is the pendulum swinging towards large organisations? In this episode, Jessica, Gary and Alessandro discuss some of the key advantages incumbents can benefit from. They discuss how innovation is no longer just the preserve of the nimble start-up. They also discuss different models of collaboration between start-ups and big business, and key aspects of the most effective innovation partnerships.