Abstract
In today's rapidly changing business environment, innovative companies consider changes not as risks but as opportunities for further growth. Through case studies concerning business innovation, the author categorized innovation into three types: “Global Standard Innovation,” “Collaborative Innovation,” and “Value Chain Remodeling Innovation.” Global Standard Innovation aims primarily at establishing a de facto standard of product and service models in order to build a competitive advantage globally, and is characterized by several key strategic activities such as defining core competencies, promoting long-termism in knowledge accumulation, and maintaining strategy consistency for business incubation. This type of innovation is mainly promoted and managed by intra-company innovators who are internally-cultivated “intrapreneurs.” Collaborative Innovation means innovations resulting from established companies' intrapreneurs' collaboration with small business venture leaders. The video game and pharmaceutical industries exemplify this type of innovation. It is indispensable for big company intrapreneurs to balance and adjust benefits for both sides. Value Chain Remodeling Innovation is mainly attained by rebuilding or re-bundling the existing value chain structure of an industry by taking advantage of information technology or by shifting its business focus. Due to the necessity for managers to adapt their styles to the rapid evolution of an organization, leadership changes sometimes occur with this type of innovation. Based on the analysis of each type of innovation, the author has defined three important new roles: 1) “Intrapreneur Accelerators” give emotional and financial support to intrapreneurs, 2) “Intrapreneur Collaborators” are intrapreneurs who interact with venture businesses to achieve mutual advantage, and 3) “Outsider Intrapreneurs” are those who become intrapreneurs from outside companies by offering their professional management expertise through challenging conventional customs in that industry.
