David Butcher Aug 04, Many leading businesses no longer debate the legitimacy and benefits of corporate social responsibility. Yet those devoting more resources to it face a new set of challenges.
The following table summarizes the three corporate business plans we will review. Each competition was independently created to uniquely reflect the goals and culture of their respective host companies. Man on the Moon Danfoss has become a mature company operating in mature markets.
Entrepreneurship and radical innovation, formerly hallmarks of the company, have been on the wane. The original objectives of the competition were to stimulate cultural change that embraced entrepreneurial skills and behaviors.
It was eventually discovered that great business ideas were emerging from the competition, which now includes radical business innovation as a goal.
The competition has created additional deal flow for the corporate venturing unit and has helped to identify employees with entrepreneurial talents for their most promising new ventures. Man on the Moon and related activities are coordinated and sponsored by the Danfoss Ventures department.
The competition is open to all Danfoss employees. Competitors retain the responsibilities of their normal jobs while competing on a spare time basis. The competition seeks proposals of three types: Each year a specific theme is chosen based on challenges the company is expected to face in the coming years.
Employees compete in teams of people created during an initial selection period. Functional and personal diversity within the teams is strongly encouraged. Based on a one-page summary, about 12 teams are chosen to compete in the first round.
During this phase, the focus is on strengthening the ability of the teams to articulate their value proposition through a strong one-minute elevator pitch. A one-day networking, training, and team building event kicks off this first phase. During this next six-week phase, the focus shifts to business concept development.
The teams work to build a strong business model, incorporating customer insights and commitment, financial forecasts, and a solid understanding of the resources required for execution.
Instruction in entrepreneurship and business acumen is provided as the competing teams finalize their entries through a mix of live training classes and online courses, as well as coaching from Danfoss Ventures.
A winner and runner up are chosen. The participants receive development resources for needed travel, market analysis, demos, patents, and consultants.
Teams are allowed to use internal and external resources. Possibly the most valuable resource arises from leveraging the global resources of the Danfoss Group and its 23K employees.
The competition has minimal formal rules to allow for creativity and to encourage initiative. One incentive to participate is increased visibility among company executives. The competition is a valuable career development opportunity.To Order a Case INSEAD now boasts a collection of over multidisciplinary case studies used in top schools throughout the world.
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ON. The notion of corporate social investment (CSI) evolves constantly. Today, a philanthropist or social investor is more than a person or institution giving a grant. Of course, fundraising plays a vital role, as do charitable donations.
Many leading businesses no longer debate the legitimacy and benefits of corporate social responsibility. Yet those devoting more resources to it face a new set of challenges. If ever there was a time to get serious about responsible business practices and regaining consumer and employee trust, it is.
This case is a follow up to HRA, and explains the actions taken by Keller Williams in response to the residential real estate market downturn in and