Large corporations must become far more agile in implementing new products and new business models. The pace of technology change, the blurring of industry boundaries, and the agility and resources of startups in almost every industry segment demand it.
Many companies have begun to adopt the principles of Lean Startup in order to increase the pace and agility of their innovation initiatives, but most have had limited success in doing so. Although the principles seem intuitive and straightforward, there are challenges to using them inside an existing company, especially in a manufacturing environment. The biggest requirements, beyond those espoused for startups, are:
- Developing a business model for the new venture that not only works in the marketplace but also works within the constraints of the corporation
- Managing the conflicts that inevitably arise with the current operating business; every business that has operated over decades
