In Praise of Process: The Foundation of ‘Corporate’ Trust for Innovation
If you've worked in corporates long enough, you know that the fastest way to get things done, is to make a few phone calls to friends in other departments.
And yet, Amos Manasseh is here to tell you to hold off – because personal connections won't elevate your company's innovation strategy as a whole.
The time to start is now. Enjoy.
By Elke Boogert , Mach49 Managing Editor
September Roundup
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In Praise of Process: The Foundation of ‘Corporate’ Trust for Innovation
New ventures are usually treated with significant mistrust inside large corporates. But then how do you ensure innovative projects – who need structure like no other initiative – get off the ground??
One of the most critical oversights in the quest to build a Growth Engine within large organizations is the absence of a robust, customer-centric methodology for venture creation. This gap is not merely a procedural oversight; it's a fundamental misunderstanding of how innovation can be systematically fostered and scaled within a corporate environment.?
To put it plainly: just as with the corporate processes and gates that are required to run a large, global, scaled organization, in the context of innovation and venture building, Process begets Trust—period.
How do I know this? It’s a hard-won lesson. Having built six new businesses inside large organizations, I know that new projects are usually treated with significant mistrust at the beginning, from anyone not directly involved or acting as a sponsor. Especially if they promise to use internal capabilities.?
No judgment: that was me. And I suspect many of us have been there. The problem is, personal networks and massive amounts of energy are not enough. They can end up disenfranchising (or at least tiring) great people inside your organization. This tactic is also not scalable, as it relies heavily on the individual and disappears when they depart. (See my Growth Advocates article for operationalising the Mothership advantage ).??
Process is the Foundation of Trust
In the complex ecosystem of a large corporation, processes and structured methodologies are not just administrative hurdles; they are the bedrock upon which trust and reliability are built. These processes ensure that decisions are made based on data, that risks are assessed and mitigated, and that resources are allocated efficiently. They provide a roadmap that guides the organization through the uncertainties of operating at scale.
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When it comes to innovation and venture creation, the need for a structured process becomes even more critical.
Without a clear methodology to guide the venture creation process, efforts can quickly become disjointed, resources can be wasted on unviable ideas, and the inherent risks can become unmanageable. This lack of structure not only jeopardizes the success of individual ventures but can also erode trust within the organization regarding the viability and value of the innovation program itself.
Process Means Trust in Venture Creation
Adopting a customer-driven, repeatable, and scalable methodology for venture creation instills a level of discipline and rigor that is often missing in corporate innovation efforts. This approach requires ventures to validate their assumptions in the market, iterate based on customer feedback, and demonstrate viability and scalability before significant resources are committed. It's a process that mirrors the scientific method, applying a hypothesis-driven approach to business model innovation.
This methodology serves multiple purposes.?
Firstly, it provides a clear framework for evaluating and advancing ventures, ensuring that decisions are made based on market evidence rather than intuition or internal politics.?
Secondly, it creates a shared language and set of expectations around what success looks like and how it is achieved.?
Finally, and perhaps most importantly, it builds trust. By demonstrating that innovation efforts are grounded in a disciplined, customer-centric process, organizations can build confidence among senior leadership, investors, and employees.
Trust, in this context, is not just about believing in the potential of individual ventures.
It's about believing in the system that creates, evaluates, and scales those ventures.
The absence of a structured methodology in venture creation is not just a tactical error; it's a strategic oversight that undermines the foundation of trust upon which successful innovation programs are built. By embracing a process-driven approach to innovation, organizations can not only improve the success rate of their ventures but also foster a culture of trust and accountability that is essential for sustained growth and innovation.
Partner at Mach49's Growth Institute AMOS MANASSEH is a distinguished entrepreneurial business leader with a celebrated career spanning 3 decades. He has founded and managed multinational businesses in Europe, Asia, the Middle East, and the US, and has 2 exits, a C-Suite contribution to a $100M public listing, and multiple M&A transactions under his belt. Prior to joining Mach49, Amos built and led the funding, development, and commercialization of 6 multimillion-dollar digital ventures from within global corporations, in addition to 6 businesses as an independent entrepreneur. He has also driven innovation initiatives with R&D, software development, and business teams across the globe, with a recent focus in APAC. There, he spent 10 years launching corporate ventures for Asia’s second-largest telecommunications group, Axiata , including a continent-wide API platform business.
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1 个月This is a really interesting article - although I don’t disagree with the content, I would argue that value creation (rather than process) is the foundation for trust. But, as someone who strongly values process and methodology to create something repeatable and efficient… I would also argue that you need this process to prove value creation. It seems to be a bit of a chicken/egg situation in my mind. Both are needed to build trust in corporate innovation.