Cargill set up Emerging Biz Accelerator as global clearing house for new

Cargill set up emerging biz accelerator as global

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Cargill set up Emerging Biz Accelerator as global clearing house for new concepts and value proposition, maintains website for idea submission, develops plan, performs due diligence, recruits talent, provides money, monitors progress; project team performs customer discovery to validate
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© Copyright National University of Singapore. All Rights Reserved. When does it work well? What are its challenges? When o For companies that want to conquer new growth domains, discover breakthrough opportunities. o Respected leadership with significant internal decision authority o Expertise in building new business. Challenges o Significant investments over many years. o Integrating successful projects into established business units can be difficult, as project teams often work isolated.
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© Copyright National University of Singapore. All Rights Reserved. No formal department or organizational unit to push Workgroups On individual level Specific and dedicated formal department or organizational unit Entrepreneurship from top management Limited resources Allocated for potential selected projects Pre-allocated certain amount of resources from top or high level management
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© Copyright National University of Singapore. All Rights Reserved. About 3M » Minnesota Mining and Manufacturing Company. » Founded by five businessmen. » Over 6,000 products: Paul, B. Entrepreneurship and Small Business. Palgrave. Retrieved from 3M Official Website:
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© Copyright National University of Singapore. All Rights Reserved. 3M’s Model of Corporate Entrepreneurs Opportunist early stage Enable r Producer now later stage
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© Copyright National University of Singapore. All Rights Reserved. 3M’s Model of Corporate Entrepreneurs Opportunist : 3M started as a commodity sandpaper seller. Innovation and corporate entrepreneurship was only encouraged by founders informally. No presence of dedicated department or organizational unit. No pre-allocated resources. Example: Wetordry TM sandpaper by Francis G. Okie. (1975, September 3). Retrieved from The New York Times: - razor.html
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© Copyright National University of Singapore. All Rights Reserved. 3M’s Model of Corporate Entrepreneurs Retrieved from Minnesota Inventors Hall of Fame: - g-okie.html In the process of developing the waterproof sandpaper, Mr. Okie presented his idea to 3M, which approved the use of its resources for the development. 1.changed the abrasives field 2. reduced the mineral‐dust health hazard among workers in automobile factories. 3. 1st unique and patentable product. 4. Generated most revenue for new product development.
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