“The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth”
by Eric Ries

Introduction:

“The Startup Way” extends the principles of “The Lean Startup” to larger, established organizations. Eric Ries argues that these companies can foster innovation and drive long-term growth by adopting entrepreneurial management practices. The book provides a framework for transforming corporate culture, empowering employees, and creating a more agile and responsive organization.

Key Concepts:

• Entrepreneurial Management: This involves applying the principles of lean startup methodology to manage and grow established companies.
• Internal Startups: Creating internal startups or “intrapreneurial” teams allows companies to experiment with new ideas and business models without risking the entire organization.
• The Innovation Accounting Framework: This framework helps companies measure the progress and impact of their innovation efforts.
• The Growth Board: This is a cross-functional team that is responsible for driving growth and innovation across the organization.
• Continuous Deployment: Releasing updates frequently and in small batches allows companies to quickly adapt to changing market conditions and customer feedback.
  
  

Lean Thinking in Large Companies:

“The Startup Way” is entirely focused on how large companies can implement lean thinking. The entire book serves as a guide for large companies to adopt these principles.

Key Takeaways:

• Apply the principles of lean startup methodology to manage and grow established companies.
• Create internal startups to experiment with new ideas and business models.
• Measure the progress and impact of your innovation efforts using the Innovation Accounting Framework.
• Establish a Growth Board to drive growth and innovation across the organization.
• Embrace continuous deployment to quickly adapt to changing market conditions.
  
  

Conclusion:

“The Startup Way” is a valuable resource for business leaders who want to transform their organizations and drive long-term growth. By providing a framework for adopting entrepreneurial management practices, the book helps companies foster innovation, empower employees, and create a more agile and responsive organization. This book is particularly relevant for large companies that are facing disruption or are looking for new ways to grow.