What lesson can big corporations learn from startups, specifically when annual budgets have been reduced?

Startups usually operate on inadequate budget and therefore such companies strive hard to be resourceful, successful and developed. In order to achieve this, startups face the need and an urge to be creative which in turn makes the clock run faster and the company becomes competent to deliver efficiently. Thus, it is better to consider that the projects must always run with limited budget, and with limited set of resources without compromising the efficient outcomes. The R&D department of the company should always look for the "creativity" by which a startup transforms into a big corporation.

Startups are similar to the small business divisions, one large corporate has,understanding the goal and careful detailing like a startup firm can withstand the uncertainty which even the startups sometimes can't handle.

Large corporate yes can take the cues of managing and running businesses in small focused teams despite been in business for several years.

Some valuable lessons would be:

- Utilize your resources efficiently;

- Value your team's experience;

- Remove non-value-added processes;

- and be customer-centric.

Humility is probably the biggest lesson they can learn. Often they tend to forget that their big size could be a vulnerability and think of themselves as infallible.

Big corporation can look into new ideas that are introduced by creative startups

and in case of budget constraints they can look into

1) how effectively and efficiently employees are contributing to the business needs.

2) what department or areas needs to be looked at in order to save costs.

3) target markets

4) branding

5) strategy

6) planning

7) marketing sources

8) Unique point of sale

9) Customer Relation

10) Culture

11) Ethics

12) Skills sets that individual require to perform the job best to their ability

There are more but I will mention this few which are very common among small or large enterprises.

Here are five valuable lessons that corporations can learn from their entrepreneurial counterparts in the startup world