Retailers are continually forced to adapt themselves towards changing consumer behaviour. The introduction of Innovation Initiatives and Startups into a corporate environment has become ‘trendy’ and is a prerequisite for successful future business. One of the main challenges is integrating Innovations within established organisations.
The easiest part is for senior management, by ‘simply’ taking a decision to collaborate or acquire a Startup; by doing so, the corporate shows INNOVATION.
The challenge starts when the Startup or Business Innovations are incorporated within the organisation. Aligning departments, understanding each others business models, accepting each companies’ cultures and differences in experience as well restructuring the organisation and systems. These must be overcome to be able to boost the business towards success.