Corporate Innovation Needs Innovation [Forbes]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: Forbes
Corporate Innovation Needs Innovation Big companies do many things better than their smaller peers, but corporate innovation sure doesn’t seem to be one of them. In case recent disruptions haven’t made that clear, consider what happened when Target tried to develop its “store of the future.” After assembling a team to prototype a small, showroom-style store that would have had robots grabbing items behind the scenes for customers, the bullseye brand unexpectedly shut down the project less than a year from its launch date. A marketplace project called Goldfish, where retailers other than Target might one day have listed products for sale, was axed at the same time. Although Target’s senior vice president of communications quickly issued a statement that suggested the retail giant did so to “refocus [its] efforts on supporting [its] core business,” the truth is obvious: s at a big scale don't always go as planned. And that means they provide lots of food for thought for small businesses
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