Innovation is a top priority yet many organizations unknowingly marginalize their innovation efforts and create roadblocks to growth. That’s why organizations are turning to corporate entrepreneurship to address this issue.
Innovation is no longer a nice to have but an imperative for many and a survival strategy for others.
Organizations are facing increasing complexity ambiguity, and uncertainty. Technology advances are turning businesses and industries upside-down and inside-out. Traditional business practices that worked in the past are no longer effective. Individuals are asserting their own independence and pursuing work that is meaningful. Economic and political uncertainty are making new investments more risky.
All of these factors are putting pressure on organizations to be more innovative and entrepreneurial.
The Entrepreneurial Audit is designed to assess the level of entrepreneurship in your organization, determine how innovative you are and what it takes to accelerate new business growth.
The top 100 most innovative companies use corporate entrepreneurship (Intrapreneurship) to improve their ability to innovate and increase financial performance. These organizations have higher levels of productivity, employee engagement, growth and profitability. Ask yourself…..
Do you have the entrepreneurial leaders needed for success?
Which systems and processes are getting in your way?
Are your people and your culture resisting change?
Are you getting the return you want on your growth investments?
Corporate entrepreneurship provides a systems view of the resources and processes that are needed to support, motivate and engage the organization in entrepreneurial thinking and action. It sets the stage for innovation.
The problem has been that there have been no road-maps for organizations to follow, until now.
The Entrepreneurial Audit provides an effective way for you to access the level of entrepreneurship in your organization. It looks at the key components that are needed to support entrepreneurship and it identifies barriers that are getting in the way.
The Entrepreneurial Audit is an online tool to objectively assess how entrepreneurial your organization is by looking at the key dimensions of corporate entrepreneurship; people, process and place and the alignment of strategic intent with outcomes.
It also looks at how innovative your organization is.
Organizations that take the Entrepreneurial Audit get a deeper understanding of the elements that promote and impede growth in their organizations. The audit identifies the largest gaps and highlights specific actions that can be taken to correct the situation.
The Entrepreneurial Audit is not a cultural assessment that looks at all the dimensions of your organization. The audit looks at the specific dimensions of your organization that enable and support entrepreneurship.
The audit is based on research and validated by experts on corporate entrepreneurship.*
Specifically the audit looks at the following:
- Strategic Intent – the focus of the entrepreneurial effort and alignment of resources
- People – the individual characteristics and competencies required for growth
- Process – the systems, processes and practices needed to support growth
- Innovative – the level of innovation, pro-activity and risk taking
- Place – the context and culture for enabling entrepreneurship
- Outcome – the tangible and intangible results the organization wants to achieve
The assessment takes 20-25 minutes to complete. It looks at the key factors that influence corporate entrepreneurship. The tool is grounded in academic research and real world experience. The research has confirmed that there is a direct correlation between these components and the level of entrepreneurship in organizations.
Executive Summary Graph
The audit provides the missing link from prior research by integrating new data about the individual characteristics that make entrepreneurs inside organizations successful.
Once the audit has been conducted, you will receive your own customized Entrepreneurial Audit Report that will give you a better understanding of the level of entrepreneurship in your organization. It tells you what you are doing to support entrepreneurship and what things are getting in the way.
We review the results with you, identify the largest gaps and work with you to develop a tactical plan to correct the situation. This enables you to respond quickly to new opportunities and competitive challenges that surface.
The benefits of taking the Entrepreneurial Audit are:
- It provides a road-map for establishing and developing entrepreneurship as a core competency.
- It helps you identify and remove the potential barriers and obstacles that are marginalizing your innovation efforts and impeding growth.
- It is a quick way to institute management practices that will facilitate change in individual and organizational behavior.
- It gives you a way to identify, develop and retain your most entrepreneurial talent before they leave for more challenging opportunities.
- It establishes a foundation for supporting and sustaining growth over time.
The audit consists of a series of activities which include:
- Preliminary discussions about the goals and expectations of the survey.
- Implementation of an online survey within the business units or the organization.
- Evaluation of each of the entrepreneurial components of the audit.
- Overall analysis of the organizations entrepreneurial orientation.
- Presentation of audit results and specific recommendations for taking action.
Corporate Entrepreneurship is and will continue to be a critical imperative for the long term viability and survival of many organizations.
Isn’t it time you found out just how entrepreneurial your organization is!
Organizations that align the right people with the right processes, in the right place or culture are able to achieve entrepreneurship and generate new business growth.
* CEAI – Corporate Entrepreneur Assessment Instrument
We would love to hear from you. Please don’t hesitate to contact us!