Do You Have an Entrepreneurial Orientation?

Time For ActionIf you are fortunate enough to be working for an entrepreneurial oriented company then you know what it means to be entrepreneurial – you think and act like an entrepreneur.  It’s as simple as that.

The problem is that a lot of people think they are entrepreneurial when in fact they are not.

It is not as simple as saying you are entrepreneurial, it is showing others that you are entrepreneurial.  Your thinking and actions must be in alignment.

Like those who started their careers during the high tech era, I was fortunate to work for two of the most entrepreneurial companies at the time 3M and Hewlett-Packard.  They both left an entrepreneurial imprint that stayed with me throughout my career.  They taught me how to be entrepreneurial.

Today, all the rhetoric about intrapreneurs, social intrapreneurs, corporate entrepreneurs and entrepreneurial leaders makes everyone think they need to self identify with one of these labels.  They may be doing an injustice to themselves and their organizations by adopting a label that does not fit.

One executive recruiter told me that a lot of individuals are putting intrapreneur, corporate entrepreneur, or entrepreneurial leader on their resume.  It has clouded the situation and raised questions about the true entrepreneurial capabilities of candidates. Read More

A New Era Begins – Intrapreneurship

As the Mayan calendar comes to an end we are reminded that each ending brings a new beginning. Despite the claims that the world will end, a more popular belief is that we are at the beginning of a new era.

An era that is full of opportunity, hope and new challenges. The old ways are no longer working.  We’ve reached a point of diminishing returns.  It is not only society that is facing massive problems, our governments, and our businesses as well.

After teaching a semester on Social Change at Suffolk University I realized that the world is changing at an accelerated pace and that most individuals and organizations are not keeping pace with that change.  Most of us resist and fear change, we are threatened by it.

We look for answers outside of us, when in fact the answers lie within us. We are responsible for the problems that exist and for finding the solutions that will fix them.

Many organizations are struggling to grow in the current economic climate.  The issue is that for far too long organizations have relied on exploiting the core business.  They have failed to fully embrace the value of exploring new ones.  They have let the past guide them to a point that is no longer productive, sustainable or profitable.  They have become trapped by their own success.

Intrapreneurship is now seen as an answer to this situation. Organizations that are instituting Intrapreneurship are taking advantage of the opportunity to change their business model and set out in a new direction. They are putting the words of Peter Drucker into action, “The best way to predict the future is to create it.”

Intrapreneurship (corporate entrepreneurship) is the key to unlocking the huge potential that still exists in large organizations.  It requires a new type of person, new processes and systems and a culture that is conducive to innovation and entrepreneurship.  It requires new thinking, new behaviors and a different approach to decision making.  It requires looking at the world through a new lens.

As the Mayan calendar ends we see the beginning of a new era in business.  An era where large organizations act more like start-ups, engage their employees in exploration and find new and innovative solutions to some of the world’s most pressing challenges.

Organizations will find themselves going back to their roots.  To the entrepreneurial infrastructure and mindset that was the foundation for their growth

In doing this these organizations will renew themselves and re-energize their employees to achieve things that seemed beyond their reach.  Employees will find new meaning and purpose in work. They will be creating a new era of business for the next generation to follow.

 

 

Kick Start Growth with Corporate Entrepreneurs

Corporate entrepreneurs, intrapreneurs and entrepreneurial leaders are in demand because organizations are struggling to innovate and grow in the current economic climate.

According to the Conference Board “CEOs across the globe cite business growth as the most critical challenge they face.” Growth in core markets is declining, customers are demanding more, competition is intensify, margins are shrinking, there are lower trade barriers and reduced cost of entry.

It is a combination of the external forces shaping business and the impact of those forces on organizations that is stifling innovation and growth.

Internally, organizations have spent the last decade costing cutting and streamlining operations. They created rigid processes and inflexible systems.  They stopped investing in new growth and allocated resources to existing projects that were mature or at the end of their life cycle. Employees were asked to do more with less, driving employee engagement to an all time low.

Now CEOs are ready to start investing again, according to the 15th Annual CEO Survey by PwC.  The issue is they don’t feel like they have the skills they need to achieve their growth agenda.  They are probably right.  The skills and capabilities required in the past are not the skills required in the future.

Most executives achieved their success by exploiting the core business not building new ones. The challenge for organizations is finding and developing individuals that know how to do both.

Using the word innovation in job descriptions is not the answer.  According to Pete Maulik, “Many companies still struggle to recruit and cultivate innovative talent.  What’s the problem? Organizations are not sure what they’re looking for.” 

Organizations wind up building a laundry list of competencies to address this issue.  What they need to do is identify the key competencies and behaviors required for success in this particular role.

The Corporate Entrepreneur Profile™ was developed to help organizations accelerate this process.  It is a success profile designed for and with the assistance of experienced corporate entrepreneurs that have generated millions of dollars for their respective organizations.  The profile looks at the competencies and behaviors that enable corporate entrepreneurs be successful inside of an organization.

In most organizations growth and talent are now top priorities but few have adequately looked at the link between the two.  As a result, many organizations are missing significant growth opportunities because they are not effectively harnessing the skills and capabilities of their corporate entrepreneurs.

Corporate entrepreneurs help organizations kick-start growth.