“Maintaining an effective culture is so important that, in fact, it even supersedes strategy,” says Harvard Business School professor Howard Stevenson. But the question arises, how to create a company culture that inspires and inspires innovation from employees? Many people leave the old-fashioned corporate environment in search of such a culture.
Therefore, it is up to the leadership to create a progressive culture and encourage its employees to do so. It is not enough just to have some business value or mission statement. Having a strong culture keeps employees constantly motivated and increases performance.
a Study In 1995 Daniel R. Dennison and Anil K. As indicated by Mishra, culture can be an integral part of an ongoing change process, and key positive culture traits can indicate an organization’s effectiveness and performance.
What is an entrepreneurial culture?
It is a complex term, and many definitions can be found regarding entrepreneurial culture. The term Entrepreneurial seems to refer to how an Entrepreneur works and what he does. Culture is defined as the values, characteristics, behaviors and beliefs that individuals learn and pass on from one generation or group to another. Hence, the union of these two conditions. “
An entrepreneur is the founder, who builds and develops his organization, whereas an intrapreneur works within an organization. However, both require entrepreneurial thinking – identifying opportunities and effective strategies to capitalize on them. Entrepreneur and intrapreneur are somewhat similar, just appear in slightly different ways. Let’s explore both sides of the fence and see how you can establish your company culture.
Who is an Entrepreneur?
Someone who is ready to build their own business from scratch and has complete freedom and responsibility. An entrepreneur designs and launches a business taking all the rewards and risks that come with it.
Creating something unique in an uncontested market place. or iteration of an existing idea or concept, a new product in a competitive market place. Entrepreneurship comes with an inherent risk that founders take when starting their venture. When everything goes according to plan, entrepreneurs are often rewarded handsomely for their work – leading the pyramid of a large, successful enterprise.
However, if the venture fails, entrepreneurs are the ones who find themselves in a sinking ship. Assuming all the risks and often loaded with debt, as do over 90% of startups.
Who is an Intrapreneur?
An intrapreneur is someone who develops a new project within a company. An employee within an organization is responsible for innovating change by giving future direction.
Empowering our human resources to take ownership of their responsibilities while at the same time giving them the freedom and support to succeed. Intrapreneurship is a practice that allows employees to become entrepreneurs within the confines of their company.
Intrapreneurs are usually given important projects that could affect the future of the company, with access to resources, finances and personnel. The key difference here is the associated risk. The company will bear all costs and possible repercussions.
Types of Intrapreneurship
There are generally three types of intrapreneurs
- to implement
Having at least one of these types in a company can really benefit overall success and innovation.
The creator is the innovator and comes up with all the ideas. Always looking for better ways and focus on the bigger picture to make change flourish. Creators often don’t like structures and don’t focus on details. They always want to move fast, come up with ideas but don’t want to do it themselves.
Doers focus on doing the tasks that need to be done. They take ideas and run with them, focusing on getting results at work. Have a clear picture of the larger scale, but always be prepared for the details. Karta intrapreneurs take responsibility of the task with effective communication to accomplish the task.
Implementers make sure everything is done. They are performers and make things happen. With information on how to do things. They are goal focused, effective negotiators and can work under pressure. Implementers take the lead and inspire others to achieve results without stopping.
“A great leader not only leads, he turns followers into leaders.” – Darren Martin
How to encourage intrapreneurship?
A company that encourages intrinsic entrepreneurial thinking begins with the example of a leader. Leaders need to promote intrapreneurship in the workplace for better growth of the company and employees.
be transparent- Involving your employees in decision making, trusting them with important information and tasks makes them feel valued. They will feel more involved in day-to-day business processes, regardless of their individual roles.
reward active behavior Managers and leaders should not try to control every detail of their employees. Rather they should be open, hands-on, and reward employees who take charge and find ways to improve efficiency, sales, or product.
fix problems – Problems with startup settings are to be expected. This is where entrepreneurs should take responsibility and solve problems when they arise. If they fail to do so, it can escalate and break the business. When you instill this kind of urgency and responsibility in your employees and teach them to fix all problems quickly, be it big or small.
Encourage healthy competition Like entrepreneurs, intrapreneurial culture fosters a healthy sense of competition to do their best and achieve results. However, the leader is responsible for ensuring that employees remember that their success is intertwined.
Creating a healthy work environment requires the adoption of new norms in the workplace for organizing and managing remote teams.
In the end, you are all a team. Leaders must make sure that people understand and feel that they are part of something greater than themselves.
How does intrapreneurship contribute to corporate innovation?
Intrapreneurs are dreamers who perform. Those who take responsibility for any kind of innovation within a business. Intrapreneur has qualities like sense of responsibility and intrinsic motivation. They are more than just an idea factory. They take on the responsibility of managing ideas and seeing them through profitable reality.
Looking at the definitions, intrapreneurs are highly beneficial to both themselves and the organization within which they are working. Fostering an intrapreneurial culture in an organization can lead to innovative change, increased agility and results, improved efficiency, lower costs and increased profitability.
It helps businesses grow while adding a level of flexibility. An intrapreneur sees new and diverse opportunities, directions or ways of doing things for the organization. Similarly, intrapreneurship opens the organization’s eyes to potential leads who can drive positive change.
They think and act differently from other employees and possess characteristics appropriate to senior management. Involving these exceptional employees with various company functions has the dual benefit of helping the company identify future leaders while at the same time providing them with training.
Intrapreneurial culture is essential for a company as it allows employees to use their skills efficiently to benefit the company and themselves. Giving them the freedom to grow and innovate within the company for the benefit of the company. It fosters an environment of autonomy and independence within a company while seeking the best solution to a problem.