Nurturing the Entrepreneurial Spirit in the Workplace
Many employees have fantasized about being their own boss.
But, they typically don’t act on it because of the responsibility and/or risk associated
with owning and running a company. This doesn’t mean, however, these employees
don’t harbor the entrepreneurial traits, which if nurtured, could take the
organization to a whole new level of success.
As businesses strive for increased competitiveness, creating
an entrepreneurial culture has become an important advantage. In today’s business environment, the term
entrepreneurial means more than just the business intelligence required to turn
an idea into an enterprise. It’s a skill or mindset embodying innovation,
creativity, calculated risk-taking and empowerment. It’s the responsibility of leaders
to identify, tap into and cultivate these traits within their organization.
Sometimes referred to as an “intrapreneur” (entrepreneurs
working within a company), these employees can be identified by the following
traits:
- Creativity
– Innovation stems from creativity. This drives the company forward.
Intrapreneurs change the status quo and notice opportunities.
- Long-term
focus – A person who is creative and innovative must also be focused,
otherwise they will fleet from one shiny object…new idea to another. The
intrapreneur can identify what adds value to the company and what doesn’t.
- Team
player – Naturally, teamwork is essential in a business. Yet, it’s the
ability to realize that sometimes others have to take control that makes the
intrapreneur standout in the company.
- Risk-taker
– Playing it safe in today’s world will get you nowhere. Intrapreneurs aren’t risk
adverse.
- Results
oriented – The intrapreneur is more concerned about the results than the process.
- Take
responsibility – The intrapreneur takes ownership of his or her successes
as well as his or her failures.
- Adaptable
– The business landscape is continually changing. The intrapreneur is very
flexible to change and can quickly adapt, especially in high-pressure
situations.
- Planners
– Intrapreneurs develop a plan and then work the plan.
- Effective
– Intrapreneurs are more interested in how effective each task or activity
is as opposed to concentrating solely on efficiency.
Once a company leader recognizes the intrapreneurs in
his/her organization, he or she must take the next steps to cultivate these
traits.
Create an environment
of empowerment
It’s a business leader’s actions that create an environment
of empowerment. It’s his or her leadership style. Research shows that
leadership based on relationships increases the entrepreneurial spirit of the
company as opposed to task oriented leadership style. An effective leader leads
by example.
Encourage innovation
Innovation keeps a company competitive and growing. In large
companies with layers of management, the innovative spirit can often get lost.
Leaders must welcome, encourage and reward innovative thinking in the
workplace.
Welcome internal
competition
Competition amongst co-workers, if handled correctly, can
spur incentive and innovation. Healthy competition can drive co-workers to push
one another to be more productive and produce better work.
Communicate
Communication is a fundamental function of good leadership.
Leaders often get so caught up in the day-to-day operations of the business
that they forget to tell their staff where they are going – the company’s
vision and direction. Employees want to get the important information. They
also want to know that their concerns and ideas are being heard. Leaders must
continually communicate to their staff that the entrepreneurial approach is
valued, encouraged and rewarded.
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