The Econocom galaxy is a novel development system, designed to combine the reassuring size and credibility of the Econocom planet with the flexibility and agility of its satellite companies. Bruno Grossi, Executive Director of Econocom Group, is one of its custodians, and handed over the keys to Emmanuelle Duez, founder of startup The Boson Project in a two-part video interview (in French).
A ONE-OF-A-KIND ORGANISATION SYSTEM
The galaxy is an original development model devised by Econocom. This unique system means we can attract the talent that is vital for effecting a digital revolution: the satellites boost the group’s agility and enable it to be more daring than the competition.
It all started with a question: how do you combine the security of a major European group whose size is reassuring for companies with the increasingly necessary agility? “The galaxy is our answer to this apparent dilemma,” explains Bruno Grossi. “We’ve tried to combine the mature activities that we own 100%, i.e. the planet, which is at the centre of the galaxy, with more cutting-edge, responsive skills and systems: the satellites, i.e. companies founded 5 to 10 years ago by talented entrepreneurs who had found their market but were suffering from the growth crisis.”
To create this “community of destinies,” the group acquires controlling or non-controlling interests in satellites in companies which enhance the galaxy with their startup spirit and, at the same time, benefit from the prestige and influence of the Econocom planet which introduces them to new markets.
“We’re lucky enough to have an entrepreneur running Econocom,” adds Bruno Grossi, in reference to Jean-Louis Bouchard. “His energy and boldness, his ability to innovate and take risks enable us to go further and faster than other companies.”
Bruno Grossi then gives the example of Exaprobe, a satellite that was the result of an activity that already existed at Econocom. The group wanted to give the people in charge of this business unit more autonomy and independence and allow them to become entrepreneurs in their own right: they now own part of the share capital of this new company. “There will be more and more of these inter-business line transfers,” says the Executive Director. “That’s another advantage of this galaxy system for our employees.”
“At Econocom, we do everything to manage our talents carefully, because we believe talent is the key to the digital revolution.”
Helping our employees find their own career path is part of Econocom’s corporate culture. And so far, it’s worked: “The signs are encouraging,” says Bruno Grossi. “The satellites are growing and enhancing our historic businesses. We are seeing the first effects of this business synergy.”
tomorrow? we’re going to Continue to foster the group’s entrepreneurial culture
“It’s not Econocom intention to expand for the sake of expansion,” stresses Bruno Grossi. “We believe we’ve reached a size that makes us credible in our various markets. We’re explorers: we move fast so we can discover new territories. If there are any difficulties, we’ll face them, we’ll adjust the model or invent another one. We’re not trapped in the past or the present.”
At the moment, Jean-Louis Bouchard, the Chairman of Econocom is launching various initiatives and investments to increase the number of entrepreneurs in the group, either people who have set up their own companies or “intrapreneurs.” Bruno Grossi concludes:
“At Econocom, we have a cathedral rationale: we build things whilst knowing that we won’t see them completed.”