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Monday, August 5, 2013

Corporate entrepreneurship is needed (article by Hemant Chandran)

Article summary:
Stereotypically, big corporate organisations don’t  encourage entrepreneurism but this attitude is changing says Hemant Chandran

Article author: Hemant Chandran

Article link:

Here are my some of my favorite gems of wisdom and insight from the article:

* An intrapreneur is a person who takes the entrepreneurial initiative within an organisation.

* Such behaviour can be a competitive advantage and sometimes a key differentiator between firms.

* While it is challenging for large dinosaur-like organisations to keep the intrapreneurial flavour in the organisation, it is imperative for them to infuse new talent.

* Entrepreneurial firms not only do themselves a favour by employing such self-motivated and performing talents, but they also contribute to society since the challenges contestants bring to bear on their work and the productive labour it yields spur economic growth.

* Companies need to identify the entrepreneurial middle manager and hone their innovative skills to keep them engaged with the company.

* Identifying and fostering appropriate talents is equally essential. But it is creating the right environment for budding intrapreneurs that is the most important step in the process.

* It involves taking calculated and imaginative risks, and even then success is not guaranteed. Companies need to continually assess the environment in order to keep the creative juices flowing.
Get all of this right, and the organisation will certainly reap the creative benefits.

* Entrepreneurship and innovation are the only ways for business to survive meaningfully in this fiercely competitive environment.

* With more start-ups than ever, all buzzing and determined to succeed, companies need to reform their internal outlook and engender a creative, flexible intrapreneurial attitude. It’s only then that the real results can be seen.


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