Being aware of technology is not enough.

Much has been invested by traditional corporations in exploring the world of software, startups, and venture capital. Key people oversee these matters and top executives are properly briefed about the challenges brought by technology.But progress must be made on converting awareness into action.

To remain competitive, established players need
to become more like tech companies

Much has been invested by traditional corporations in exploring the world of software, startups, and venture capital. Key people oversee these matters and top executives are properly briefed about the challenges brought by technology.But progress must be made on converting awareness into action.

To remain competitive, established players need
to become more like tech companies

And it’s a fascinating matter because no one really knows how to tackle that challenge. There are very few precedents of traditional companies that have tried to become tech companies. But it’s still early, and becoming a tech company is a discipline that is being invented and mastered as we speak.

There's too
much
confusion
going
around.

Much has been invested by traditional corporations in exploring the world of software, startups, and venture capital. Key people oversee these matters and top executives are properly briefed about the challenges brought by technology.But progress must be made on converting awareness into action.

Invention is key.

Nobody knows exactly how technology will change your industry and your value chain. It will all eventually be discovered by inventors: those who are willing to explore new territories and who are ready to fail in the process. Invention is not only about technology per se: it’s about inventing new businesses, a new kind of relationship with your customers, a new strategy for your entire company.

Above all,
becoming a tech company requires entrepreneurship.

Entrepreneurs succeed because they rely on a radical execution model. They’re animated by a sense of urgency in solving a painful problem. They’re obsessed with their customers, nothing else.  They have nothing to lose. The key challenge today is reconciling the constraints of a large corporation with the unique advantages of entrepreneurship.

Not every corporation is in the same position when it comes to becoming more entrepreneurial.

Some have already mastered technology. Others still need to explore their environment and spot problems waiting for a solution. All should beware the old clichés, such as visiting Silicon Valley, investing a few millions in a corporate venture capital ARM or hosting random startups in a cool new incubator.