An Innovator's Sketchbook • 98 implied HN points • 02 Apr 23
- Large companies must grow through expanding market penetration or entering new markets, either by inventing new products or acquiring other companies.
- Challenges of creating successful new products in large companies include bureaucracy, risk aversion, resource competition, resistance to change, and short-term focus.
- Skunkworks projects are effective for innovation in large companies, requiring careful planning, autonomy, cross-functional teams, open communication, agile processes, and customer-centricity.