Update: This post was published earlier this year pre-COVID. While we certainly couldn’t have anticipated such a difficult turn of events, the message of these mantras still ring true. It is challenging for large corporations to navigate the complex ecosystem of startups and entrepreneurs. And arguably, in a COVID/post-COVID world, working with startups and scaling partnerships with startups you actually want to work with has become more challenging than ever. This is where The Bakery steps in. We help corporates and startups work together in a more efficient and seamless way.
The Bakery Mantras are the set of beliefs that drives our company and our approach to innovative business ideas, new opportunities, and achieving real change in large organisations.
Our many years of experience and our dedication to corporate innovation, have inspired these 10 mantras which serves to remind us of the lessons we have learned. We want to share these lessons with you and help you get started on your innovation journey!
You may be familiar with setting yourself a New Year’s resolution or a goal you want to achieve in your personal or professional life. As many will agree, goal setting is a crucial aspect of life if you want to keep growing and seeing progress. And goal setting in innovation is no different. In fact, goal setting in innovation is a great pillar for success in innovation. If you set achievable yet valuable goals and metrics for success, your innovation projects will not only show stakeholders a promising return, but also long-term value.
Over the years, The Bakery has worked on a number of sustainability challenges. Across each of these challenges, we’ve had the opportunity to engage and collaborate with a number of trailblazing startups that we are proud to have in our network. Here are a few startups to look out for that can help your organisation and your consumers become more sustainable!
The climate crisis is accelerating, and its implications across wildlife and natural ecosystems has become a major threat on resources which we require to exist. A glance at CO2 emissions and increasing global temperatures highlights the need for immediate action to change the current state of affairs. And while small-scale sustainable practices by individuals are crucial, it is arguably more important for large corporates to take action against climate change.
The Bakery and Earthwatch Europe are proud to announce the launch of our new initiative that will help corporations to drive forward their journey towards sustainable growth. The Bakery Sustainability Lab will enable like-minded organisations to join forces and innovate together towards the common goal of improving our sustainability, now.
Having discussed how to identify the right opportunities, what the key success metrics are, and how to achieve buy-in from key stakeholders, we’re now delving into the resources you need to get started. This encapsulates talent and team, elements you will need to guarantee that your corporate startup gets off its feet in the first place.
In order for your corporate startup to operate effectively, it is critical to understand your success metrics. This understanding of clear success metrics will not only help you in your day-to-day operation, but will also be crucial in helping you secure buy-in from the key budget holders and decision makers within your organisation.
Large corporations have historically been successful in carving out market share, dominating various industries and launching products and services. However, with more and more newer, smaller, more agile challengers, incumbents must re-evaluate their strategy for launching new products.
We’ve had the past couple of months to adapt to new norms, particularly in the retail and hospitality space. More so than before, retailers are expected to quickly adapt and find ways to either change the entire physical retail experience or to digitalise. Have we reached a point of no return for retail as we’ve known it?
Finding and continuously adding to our network of exciting and game-changing startups and entrepreneurs is an important part of what we do here at The Bakery. No one can deny the power of startups. Startups are typically able to build, test and launch products faster than incumbents. Leveraging this agility and expertise is a great way to help you innovate at speed.