Videon and Lufthansa Technik Explain How Companies Innovate
State College, PA – Staking it out on your own as an entrepreneur or innovating from within your company as an intrapreneur is a pivotal decision in a career.
For this reason, local entrepreneur Todd Erdley, CEO of Videon, and intrapreneur Andrew Muirhead, a vice president from Lufthansa Technik, will each present their journey at 7 p.m.on Sunday Nov. 15 at the State Theatre in downtown State College as part of the Global Entrepreneurship Week events at Penn State.
The businessmen will outline how they each built a successful business under a different set of challenging environments and circumstances and why they chose to be one “-preneur” over another.
For Erdley, it was about building a place where employees would work with one another in a supportive environment, produce high-quality products and enjoy themselves at the same time. That vision was realized in Videon.
“I always wanted to start a business,” Erdley said. “By talking about my journey, I hope to both inspire future entrepreneurs and to ground them in reality. Being an entrepreneur is rewarding but taxing: you have the ability to move the organization rapidly, but you also shoulder significant risk. It’s a challenge I truly love. ”
Today, aside from running his business, Erdley remains an enthusiastic member of the State College community through involvement in the Centre Region Entrepreneur Network and other local business groups.
Muirhead took a different approach to realizing his vision for an organization. Fifteen years ago, he created Lufthansa Technik’s Innovation Business Unit, which has grown to be one of the companies seven Product Divisions and a center of innovation for the company. Today, he holds more than 20 patents and has extensive experience in corporate innovation and business building. He suggests fighting complacency and having the courage to challenge the status quo as key to becoming a successful intrapreneur.
“Becoming an intrapreneur within a company requires some key capabilities,” Muirhead explains. “You need a solid understanding of the business, you need to see opportunities where they exist, and you need to be ready to take a gamble when there is a chance to do something big. There’s a larger safety net for intrapreneurs than entrepreneurs, but the two face similar day to day challenges. In addition, intrapreneurs have the burden of working within the vision of an existing organization and having to answer to a wide range of people, some of whom may not understand your business vision.”
About Videon Central, Inc.
Videon Central develops products for audio/video applications in the Global AV, Aviation and Automotive industries. With more than 30 million devices using its Ultra HD, streaming media, DVD and Blu-ray technologies, the company is a partner to the world’s leading technology companies and AV product developers. Based in State College, Pa., Videon was founded in 1997 and is a privately held company.
For more information, visit videon-central.com and follow Videon on LinkedIn, Twitter and Facebook.Return to News and Events