Babson Professor Jay Rao to Speak at the Corporate Intrapreneur Summit in New York on September 9
Babson College Professor Jay Rao will co-lead a session about Enterprise Venture Design at the upcoming Corporate Intrapreneur Summit, alongside IDEO Cambridge Portfolio Director Katherine Londergan.
Summit participants, including industry experts and individuals looking to create new business value and respond to competitors, will share best practices on how intrapreneurs can scale innovation and deliver growth. The event will be hosted at Pfizer in New York City on September 8-9.
Venture Design is Your New R&D
Professor Rao shares the following about his upcoming session:
Growth kills growth. As firms grow in their products and markets, i.e., in scale and in scope, middle management grows, bureaucracy sets in and enterprises lose their customer immediacy and intimacy. To complicate matters, shrinking technology life cycles and competition from unexpected players are forcing firms to re-invent themselves more often. Those that don’t, often go the way of Kodak, Blackberry, Nokia, Yahoo, and others.
Unfortunately, large enterprises struggle when it comes to: (1) conceiving and ideating entirely new businesses; (2) designing and testing customer experiences; (3) incubating and nurturing new business models; (4) experimenting and pivoting business models and (5) scaling and integrating new businesses. This is especially true when the new businesses are outside of their core and depart from their current business model.
For nearly 3 decades, Babson has been developing entrepreneurial leaders globally and IDEO has been designing new ventures for their clients. So, Babson and IDEO are coming together to help large enterprises build and scale new business ventures. Specifically, Babson and IDEO will provide some of the scarcest resources and skills that most large enterprises lack – organic growth capabilities, radical innovation, entrepreneurial leadership, and agile market experiments. Together, they will help firms develop their own internal bench-strength for designing and scaling new ventures.
Jay Rao
Babson College professor Jay Rao teaches two courses in the MBA programs: Strategies for Innovation and Growth, and Innovation in Service Industries. He also teaches extensively in the Babson Executive and Enterprise Education programs. His executive teaching and consulting is in the areas of innovation, implementation of innovation initiatives within firms, corporate entrepreneurship, and customer experience innovation.
His research has appeared in The Sloan Management Review, Journal of Innovative Management, The Academy of Management Executive, Production and Operations Management Journal, Quality Management in Health Care, and the Cornell Hotel and Restaurant Administration Quarterly. He has written several business cases that range in topics from Innovation, Customer Service, Operations Strategy, Strategic Alignment, Supply Chain Management, and Quality Management.
Rao has consulted for Massachusetts General Hospital (Boston), PRIME Business School (Colombia), Banco Occidente (Colombia), Benchmark Assisted Living (Boston), EMDSerono, FORUM (Colombia), FitLinxx, Penteo (Spain), BFA Conseil (France), Novartis, Lojack, Fidelity Investments, Merrill Lynch, Boston Scientific Corporation and others. Through Babson Executive Education he has led programs for Ocean Spray, U.S. Navy, Novartis, Fresinius Medical Care, Covidien, Taco, Merck, Masco Corp., SABIC, Scottish Enterprise, North Atlantic Capital, PANalytical, EMC, GlaxoSmithKline, Boathouse, and others.
He is a member of the Innovation Board at Ocean Spray. He also has a family-business background and sits on the board of The HJKP Educational Trust (India).