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He did well co-founding Asterand, an ethically sourced human-tissue sampling business, but lost his shirt on a jazz club and a cattle-ranching enterprise to produce low-fat beef. Charlton and Reid decided to launch TechTown, a nonprofit business incubator, which went on to spark a small renaissance in entrepreneurship in midtown Detroit.
They are innovating in ways that create virtuous circles for a generation or more." He was comfortable making smart bets to position IBM for decades-long growth, such as creating the Emerging Business Organization to incubate new businesses and shield them from P&L pressures.
They go by names like corporate social responsibility, sustainability, shareholder advocacy, social assessment and auditing, consumer action, government regulation, leadership development, ethics, realignment of incentives , attracting long-term investors , creating shared value , and more.
For a business incubated by a large company using an annual funding cycle, you generally need a one-year mission that clearly articulates to direct reports and colleagues what you are aiming to do and what the result should be. Examples of constraints are regulatory, legal and ethical issues, or infrastructural or technological restrictions.
The smartest minds in social innovation are increasingly committed to engaging with the private sector to make significant changes in areas like health, education, and poverty. What happens when you reverse that model and place these investments at the front-end of your corporate innovation strategy? The Innovation Continuum.
And for society and democracy at large, the workplace might just be the one institution that incubates a more constructive way of bringing people together. They should provide civility training along with existing programs that highlight the company’s ethics or teach workers how to prevent sexual harassment.
Key selection criteria included experience in innovative software and service (versus product) development, and an ability to manage a start-up in a very large, complex company. A design studio is geared for collaboration and innovation work with customers and partners. The first step was to hire someone to run it.
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