Entrepreneur:

Opportunity-driven Growth

Entrepreneurial Organization

Promoting Entrepreneurial Activity Inside Established Organizations

By: Vadim Kotelnikov

Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited!

"The challenge isn't to keep your eye on big competitors. It's to pay attention to the innovators."  ~ Dave Duffield

Competitive Strategies Opportunity-driven Business Development Fast Firm Corporate Capabilities Continuous Innovation Systemic Innovation Differentiation Strategies Entrepreneurial Organization New Economy: key features ENTREPRENEURIAL ORGANIZATION: Challenges, Opportunities, and Competitive Strategies

 

 

Entrepreneurial Mentality

  1. Define Innovation Strategy: As startups begin with an idea for a product or service rather than a comprehensive business strategy, innovation strategy development in entrepreneurial firms is an outgrowth of their product and service plans, not the reverse.2

  2. Behave Like a Small Company: One key attribute that needs to be instilled in an entrepreneurial organization is a small company feel. It creates "a climate that makes individuals feel as if there is some room to move, to try some dead-end paths, and to make some mistakes."5 It also involves making managers feel as if they have some stake in the wins and looses.

  3. Define Right Reward Structures: Your reward structures providing "a high upside for the success, and at the same time a downside for the failures help to encourage managers to stimulate an entrepreneurial environment."5

 

 

Entrepreneurial Organization Defined

 

Entrepreneurial organization promotes entrepreneurial activity adapting structure, management, and processes accordingly in order to gain the required agility, speed, creativity and drive to act profitably upon specific opportunities.1

Entrepreneurial organization is any organization that meets these two criteria:

  1. It is structured so that its members are given the information and tools necessary to allow each to pursue solutions and take advantage of opportunities at their level, based on the stated objectives of the organization.

  2. An atmosphere exists that encourages individual initiative, and mistakes and failures that occur in the process of taking initiative are actually viewed as progress in the personal and organizational quest for excellence.

Develop  Entrepreneurial Staff

There are two phases in developing an entrepreneurial workplace. Phase I creates the environment necessary to support and encourage it. Phase II is building your staff's entrepreneurial skills... More

Change Management

One of the keys to dealing with change is understanding that change in never over. "Change brings opportunity to those who can grasp it, and the discontinuities of the new economy offer unlimited opportunities."6... More

Leading Transformational Change

One of the most striking attributes of leaders of successful transformational change efforts is their entrepreneurial spirit and behavior. These individuals think and act like heads of their own businesses and are able to inspire and direct others to act in the same manner.  Entrepreneurial leader are part visionary, part role model for the new values and behaviors and part crusader. They frequently emerge from lower levels of the organization, from the business, or from other organizations... More

 

 Discover much more in the

FULL VERSION of e-Coach

5 Steps to Creating an Entrepreneurial Organization...

Opportunity-driven Business Development...

8 Attributes of Corporate Success...

8 Steps to Creating an Innovative Organization...

Inspiring People...

Energizing Employees...

Motivating Radical Idea Generation...

7 Dimensions of Strategic Innovation...

 Case in Point  Apple...

 Case in Point  GE...

 Case in Point  Fidelity Investments...

 Case in Point  EnCana...

 

 

 

References:

  1. Lead to Succeed, Colin Turner

  2. Relentless Growth, Christopher Meyer

  3. Jack Welch, interview, July 22, 1997

  4. Jack Welch, speech, The Bay Area Council, San Francisco, California, September 2, 1989

  5. "Managing New Products", Thomas D. Kuczmarski

  6. "Every Business is a Growth Business", Ram Charan and Noel. M. Tichy

  7. "Lateral Thinking Skills", Paul Sloane

  8. "Are you building an entrepreneurial organization?", Jim Blansingame

 

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