"Future-proofing your business with intrapreneurship” is a 90-minutes speech by Neil Fogarty on the topic of corporate entrepreneurship.
The modern business landscape is continually shifting and these macro changes are forcing long-established enterprises (both private sector and public sector) to re-assess their business models.
The examples of macro changes includes:
- rapid urbanisation (e.g. China)
- demographic shifts (e.g. Japan with a rising aged population but shrinking birth rates)
- social change (e.g. Uber, Spotify)
- climate change & resource scarcity (e.g. Egypt’s sugar and rice)
- shifts in global economic power (e.g. reduced reliance on oil affecting OPEC nations)
- technology (e.g. AI, automation)
Organisations have an option - they can see these things as threats to the way they work (referencing Kodak, Blockbuster) or they can see it as opportunities (referencing Instagram, Netflix).
Underlying a lot of this is the issue of ‘disruption’ - this refers back to Kodak, etc. with examples from the Egyptian startup scene (e.g. Instabug, Yaoota, Wuzzuf, Vezeeta).
We then discuss what a corporation can do to protect itself from the outside influences by building it’s own corporate entrepreneurship (intrapreneurship) ecosystem.
This model refers to
- Corporation (how the enterprise orients itself to empower and equip employees: the benefits to the various stakeholder groups)
- Innovation (the idea generation engine)
- Incubation (internal incubators to take ideas to reality)
- Acceleration (the spinout)
Examples include Apple, Google, and Barclays - this is where we reference the Egyptian Fintech ‘Moneyfellows’ as it is in the incubator 1864 developed by Barclays.
Other references include Nike, Lego, and Telefonica.
The closing summary includes:
- WHY worry - the world is changing
- WHAT are the choices - corporations can disrupt or be disrupted
- HOW can they do this - through a framework (intrapreneur ecosystem)
- WHO is doing it - Apple, Google, Facebook, Barclays, Intuit, etc.
- WHAT is stopping you?
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