THOUGHT LEADER HP INNOVATION FALL / WINTER 2022 17
ENABLE THE MUSCLES THAT DRIVE PROGRESS >>
While “ unleash ” muscles are necessary , they are far from enough to grow successful new businesses within a company . In fact , there is an entire second category of muscles that we call “ enable ” muscles , which focus on how to effectively and efficiently leverage the resources of the parent company to accelerate progress . Many companies place insufficient emphasis on developing and strengthening these steps to drive corporate incubation .
At HP we believe we must allow simplified access to the required core assets of our company as a recognized brand with a broad customer base , such as extensive IP and technologies and expertise in business scale-up .
> DEFINE THE CRITICAL FEW .
We work with new businesses to clearly define the most important and differentiated parent company capabilities that must be leveraged . This simplifies and sharpens engagement with core functions , preventing new businesses from becoming overwhelmed by the parent company processes . Furthermore , if many capabilities must be leveraged , then the new business should most likely be integrated rather than separated from the core .
> DEFINE CLEAR BOUNDARY CONDITIONS .
We create a simple list of “ must-dos ” and “ do nots ” for each incubated business in critical areas such as compliance , cybersecurity , and values . This list clarifies the nonnegotiable guardrails within which incubated businesses must operate and prevents the need for exceptions to be approved on a regular basis .
> MAINTAIN SENIOR LEADERSHIP ENGAGEMENT .
Keeping senior business and functional leaders interested and supportive is obviously important , but difficult to achieve . We establish “ incubation boards ” made up of senior executives who engage with and advise incubated businesses . This engagement is critical for maintaining air cover for incubation .
> PROVIDE SHARED OPERATIONAL SUPPORT .
We form a small and low-cost shared “ operational concierge ” team to assist new businesses , so that business teams can focus on their core competencies rather than expend a lot of time navigating the parent company teams and processes . These operational concierges are extremely knowledgeable about the parent company ’ s functions , tools , and processes , and incubated businesses regard them as a valuable resource .
> SIMPLIFY CORE BUSINESS PROCESSES .
We collaborate with many core functions , such as IT , finance , and human resources , to define simplified approval and integration processes for new businesses . In IT , for example , we established a small New Business Incubation team that developed a simple IT stack to help businesses get off the ground quickly .
WITH THIS AMBIDEXTROUS approach , HP has been experimenting and innovating , resulting in several potentially major initiatives . We ’ re pursuing unmet needs in industries ripe for disruption and creating an environment in which to innovate , experiment , and eventually fill the needs we ’ ve identified .
HP is disrupting multiple industries with this strategy . For example , it ’ s helping to produce the first fully compostable , plastic-free paper bottles with Choose Packaging . And HP is poised to significantly expand access to customized orthotics using 3D printing with the Arize solution , while the new Metal Jet S100 solution is delivering high-quality final parts at scale across industrial , consumer , healthcare , and automotive markets .
By incubating these and other disruptive businesses within HP , we ’ ve discovered specific capabilities in both the “ unleash ” muscle and the “ enable ” muscle that are absolutely critical to success — and which will create lasting value for our customers , shareholders , people , and planet .