Originally used by Lockheed Martin to identify a secret aircraft development group within the larger company, the term “Skunk Works” is used today to broadly describe an autonomous company within a company. The skunk works is usually a small group of people who are allowed to work on a project in an unconventional way, unhampered [...]
7 Ways Big Companies Can Become More Entrepreneurial – Part 4
One of the biggest challenges to large corporations becoming more entrepreneurial is their very structure. Chains of command and divisions of labor designed for efficiency can actually block good ideas and discourage creativity. In this seven-part series, we examine ways that big business can learn from entrepreneurs, small businesses and start-ups. One of the advantages [...]
7 Ways Big Companies Can Become More Entrepreneurial – Part 3
Small companies and start-ups operate a lot like families. The owners must provide an environment that encourages creativity everyday as they face challenges to their very existence. They can’t afford to have strict chains of command. In this series, we examine how big businesses can get the most from their employees by learning from small [...]
7 Ways Big Companies Can Become More Entrepreneurial – Part 2
Most big companies want creativity and innovation, but these attributes require a structure that allows them to thrive. Corporate structure itself may be the biggest impediment to out-of-the-box thinking. It’s hard to find the race horse in the twenty-mule team. In large corporations’ desire to get the job done and be more efficient, they can [...]