Corporate innovation does not work

January 7, 2017 acustackadmin 937 No Comments

Corporate innovation does not work,’ says Accenture

Accenture’s Narry Singh tells WIRED2016 that startups and corporates should collaborate for the best results

Colossal corporate firms trying to innovate within their existing structures does not work, Accenture’s Narry Singh says.

At the WIRED2016 conference in London the global head of growth and strategy for Accenture Digital explained that when large firms attempt to move quickly it doesn’t always work and they run into problems.

“Many large companies are dying,” he says. “Parts of businesses are being attacked by other companies and startups.”

“In general the decline of large corporations has increased in the last 12 years or so.” However, this has been counteracted by the growth of a number of technology firms: Amazon, Facebook, Netflix and Google, are just some of them.

But, in a large number of cases “corporate innovation does not work” because firms are still too slow to move and change their working practices, Singh explains. Throwing money at innovation schemes doesn’t mean they will be successful.

According to Accenture’s research, corporate innovation, accelerators, and venture capital schemes are not always the best approaches for some of the biggest and oldest firms.

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