5 Inspiring Examples of Entrepreneurship in Large Companies

If you think that entrepreneurship is only for small businesses and startups, think again. Large companies can indeed incubate new businesses and startup ideas that could drive the innovation and growth of their industry. In this article, we will explore five inspiring examples of entrepreneurship within large companies that have transformed their industries.

1. Amazon Web Services (AWS)

Amazon, the world’s largest e-commerce company, started AWS to provide computing and storage services to small businesses and startups. By tapping into Amazon’s vast IT infrastructure and data centers, AWS could offer these services at a fraction of the cost of traditional IT providers. AWS became so successful that it now accounts for most of Amazon’s profits, and in 2019 generated $35 billion in revenue. Today, AWS has become the backbone of the internet, serving millions of users worldwide, and providing innovation in big data, machine learning, and artificial intelligence.

2. Ford Motor Company

Henry Ford, the founder of Ford Motor Company, had a vision to create a car affordable for everyone. In 1913, he introduced the first assembly line for mass production of cars, which cut the production time from 12 hours to 2 hours, and reduced the cost of a Model T by nearly two-thirds. By making cars accessible to everyone, Ford transformed transportation and created a new market for automobiles. Today, Ford is still innovating with new technologies, such as autonomous vehicles and electric cars.

3. Google X

Google, the world’s most popular search engine, created Google X to explore futuristic technologies. Google X is a secret lab where engineers and scientists work on projects such as self-driving cars, smart contact lenses, and flying drones that deliver goods. Google X’s philosophy is to embrace risks and failures, and to pursue ideas that seem impossible or even crazy. Google X has already produced innovations that are transforming industries, such as Waymo’s autonomous vehicles and Project Loon’s internet balloons.

4. Procter & Gamble (P&G)

Procter & Gamble, one of the world’s largest consumer goods companies, promotes entrepreneurship through its Connect & Develop program. The program encourages P&G’s employees, partners, and suppliers to submit new product ideas that could solve unmet consumer needs. P&G evaluates these ideas and invests in the ones that have the potential to become breakthrough innovations. Connect & Develop has resulted in several new products, including Swiffer, Mr. Clean Magic Eraser, and Olay Pro-X skincare.

5. Apple Inc.

Steve Jobs, the co-founder of Apple Inc., was known for his entrepreneurial spirit and his obsession with design and user experience. Jobs transformed Apple from a personal computer company into a consumer electronics giant by creating products that were not only functional but also beautiful and easy to use. Jobs and his team were responsible for the development of iconic products such as the iPod, iPhone, and iPad, which revolutionized the music, phone, and tablet industries. Today, Apple continues to innovate with new products such as the Apple Watch and the HomePod.

Conclusion

Large companies can indeed foster entrepreneurship and innovation by embracing new ideas, taking risks, and investing in breakthrough innovations. The five examples we have highlighted in this article demonstrate that entrepreneurship can thrive not only in startups but also in large companies that have the resources and the vision to create new markets and transform industries. By embracing entrepreneurship, large companies can stay ahead of the curve and create a better future for themselves and their customers.