Listen to podcast – Learn how large organizations stay agile to innovate in a fast-changing tech environment. How do they keep the pace?
Big companies that span across various geographies tend to move slower as they grow and increase rigidity, so how does such a company keep agile enough to keep innovating?
In this episode of Stay Ahead you will hear about Schibsted’s innovation strategies and how they are linked to the latest research on the topic.
The quest of continuous renewal
Schibsted has diversified into media, online marketplaces, and technology ventures with the goal of retaining its dominance.
To keep innovating, Schibsted has relied on quick data-driven iterations, agile work teams, and an open mind. Schibsted’s success at innovation is partly due to their courage to challenge their own ideas and existing businesses. The clearest example of this being their launch of digital classifieds site Finn.no to challenge their cash cow at the time, Aftenposten.
Freedom to operate
Companies within a group might be required to act or operate in a certain way. However, this can be done to different degrees. How to foster innovation at a group level?
Often, companies are either traditional or disruptors, and Schibsted strives to become a combination of both. On the one hand, it has built a strong common foundation for all the group companies, but on the other, every company operates autonomously. This way, innovation is decentralized and engrained in every employee based on empowerment.
Listen to the episode and you will also learn more about:
- How to promote a culture that accepts failure and learns from them?
- What are the challenges of big companies when trying to innovate?
- Should companies focus on planning or executing?