The Innovation Enterprise, an independent B2B multi channel media brand focused on the information needs of Senior Executives, and The Growth Strategy Co., the leading provider of growth-focused research, consulting and cloud-based software solutions, conducted a joint survey of the attendees at the Chief Strategy Officer Summit. The objective of the survey was to establish the current state and future projections related to the practice of strategy and innovation. The joint effort reinforces the commitment of both companies to equip executives with the tools and insights needed to increase the value and integration of strategy, innovation and growth-focused disciplines into the broader corporate framework.
The 2013 Chief Strategy Officer Survey results are presented in a four-part series:
Part 1: Strategic Growth Outlook
Part 2: Strategic Growth Organization
Part 3: Strategic Growth Responsibilities
Part 4: Strategic Growth Accountability
In addition to the four-part series, a full interactive dashboard presenting survey analysis, key insights and best practice recommendations will be available on The Growth Strategy Co. website beginning March 2013.
Part 2 Preface
Regardless of a company’s size or historical mindset, taking deliberate action to become more entrepreneurial is beneficial and essential. However, traditional corporate organizational structures may not be conducive to entrepreneurship as they may force rigidity in information flows, knowledge sharing and leadership direction. In contrast, many growth-focused companies use alternative organizational structures that promote vertical and horizontal engagement between executives, employees, partners and customers. These modern structures can be embedded in, or separated from the existing organization to create environments where the capital and resources of large companies are combined with the entrepreneurial culture and behaviors of start-ups.
In a large company context, entrepreneurship is best defined as starting and operating new business ventures within the structure of an established company at the individual, team, group and enterprise levels. This emerging corporate discipline can be a centerpiece in renewing a large or mature company’s culture and belief system, and a powerful source of competitive advantage. To that end, organizing for entrepreneurship requires leaders to promote the right mindset, deliver a clear leadership mandate and deploy the right entrepreneurial model to create breakthrough growth opportunities and deliver sustained value creation.
Key Findings: Part 2 – Strategic Growth Organization
In Part 2 of the 2013 Chief Strategy Officer Survey, Chief Strategy Officers, Chief Innovation Officers, Chief Marketing Officers and other growth-focused leaders were asked about their organizational structures. From the results, several key findings emerged:
- Growing Demand for Entrepreneurial Environments. For the majority of surveyed executives, fostering entrepreneurship, creativity and collaboration are seen as high priority objectives as companies pursue new sources of growth, differentiation and competitive advantage.
- A Preference for Team-based Entrepreneurship. Building organizational structures that promote entrepreneurial activity through specific growth-focused project teams is a favored approach for senior leadership and an emerging trend for most surveyed companies. Additionally, supporting activities and interests of individual-based internal entrepreneurship is at a moderate level of importance.
- Making the Existing Organizational Structure More Entrepreneurial. While 80% of respondents indicated that innovative and entrepreneurial environments are of critical importance, the data indicates that companies are most comfortable promoting those activities within the confines of their existing organizations rather than through new or specialized organizational units.
To learn more, join us at the
Chief Strategy Officer Summit
San Francisco, CA
May 23-24, 2013
image credits: growthstrategy.com
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Wayne Simmons is an accomplished executive, innovator, value creator, and entrepreneur and co-author of GrowthThinking: Building the New Growth Enterprise. As CEO and Co-Founder of The Growth Strategy Company, Wayne leads the vision, strategy and growth of the company. He has worked for global advisory firms Ernst & Young, Deloitte Consulting, and has been a trusted advisor to C-level executives at Fortune 500 corporations, venture capital firms, and small and midsized companies. Wayne was trained in airborne reconnaissance for US Army Intelligence; and is an alumnus and Fellow of The Wharton School of the University of Pennsylvania.
Keary Crawford is a results-driven executive leader with extensive experience in operations, M&A and finance for start-up, entrepreneurial and middle-market companies. As co-founder and COO of The Growth Strategy Company, she manages the strategic growth and vision, and day-to-day operations; and is co-author of GrowthThinking: Building the New Growth Enterprise. Keary was trained in Behavioral and Social Sciences and is a Fellow and alumna of the Executive Development Program at the Wharton School of the University of Pennsylvania.