What is corporate entrepreneurship and how to implement it?
Do you know that if an employee creates a feature for the company, he/she feels part of the solution and tries to improve it more? This would be a professional who has the basic characteristics for the implementation of the concept of what is corporate entrepreneurship.
You know what entrepreneurship is, but are you aware of what a corporate entrepreneur is? It can be said that corporate entrepreneurs are the employees who put into practice entrepreneurship within companies although they are not the owners or managers of the company.
For every company it is important to count on professionals of this nature, after all, they are usually people who stand out for being creative, responsible and daring for the function they perform in the corporation.
Google is an example of famous corporate entrepreneurship. At the Silicon Valley giant, your employees can use 20% of their work time by investing in parallel projects that result in new products and solutions for their customers.
What is Corporate Entrepreneurship?
The definition of corporate entrepreneurship is: set of procedures or actions within a business that already exists. The goal is to maximize results.
This model gains prominence due to the large number of people who have developed a desire to have their own business but realized that this could be a career with less certainties of success. After all, building the business from scratch and making it thrive requires a lot of effort, know-how and investment – among other skills.
Thus, it is up to an existing company to implant and develop entrepreneurship in its own employees. In the end, the company will have more engaged professionals – and employees will feel part of the corporation, developing a sense of ownership .
The employee as an intrapreneur
This is a mode of entrepreneurship in which employees act as the owners of the business. They help move the creation of ideas within the company and are dedicated to the success of it. It is the same as developing entrepreneurship within an existing organization.
In addition to the benefits that a corporate entrepreneur offers to the company, it also comes out in profit on the personal issue. This is because, when you feel important to the company, you feel more satisfied and motivated to improve. Realize your place in the corporation.
By investing in the development of entrepreneurial and intrapreneurship entrepreneurship capacities, the company retains its talents, optimizes its resources and improves the maintenance of intellectual capital.
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Implementing the culture of entrepreneurship
To count on employees who understand and have the skills to develop corporate entrepreneurship, the company must know what to do to implement this business format.
The first step in putting it into practice depends on the corporation investing in an improvement in its organizational culture. It is necessary that the managers and their commanders work in tune.
The company must prioritize the development of leaders who are willing to make corporate entrepreneurship work. They are primarily responsible for stimulating the company’s talents to interact, aggregate knowledge and share.
It is necessary for everyone to feel stimulated and at ease to expose their ideas, feelings and grow together with the company.
For this new business format to work, all parties involved need to be aware and engaged. The company should do its part, managers should do their part and, of course, employees should do their part.
Role of the company
The company must offer structure, training and employee development, bonuses, promotions and other actions that it deems important to implement and develop the culture of entrepreneurship.
You can hire interesting lectures, take actions that promote the exchange of ideas, among others.
Role of managers
Believe and invest in the idea. Offer the other employees their knowledge and know-how. Always be available to help. Serve as a way of inspiration for other collaborators, through words, examples and attitudes.
It is the role of employees to strive to develop corporate entrepreneurship within themselves.
Be willing to learn from the company’s teachings, engage, share knowledge and feedback.
Understand that this new format of thinking will be positive for everyone. This learning will last a lifetime, so it is important to value it.
Stimulating the “ownership”
It is common knowledge that companies, regardless of their area of operation and size, work best when they are with the presence of their owner. That is why it is important to develop this feeling in each collaborator.
Assuming ownership means doing what is necessary to achieve the best results. Even if it means the effort will be a little bigger.
To put into practice the goal of disseminating ownership in a healthy way, the company needs to look at its leaders with attention. They should monitor their attitudes and work in a genuine and consistent way with the company’s goals. Managers need to be able to look closely at their employees and value them.
Leaders need to know how to identify the strengths of their employees, what corporate entrepreneur characteristics they have and what they should be developed.
5 characteristics of corporate entrepreneur
The professional with characteristics of corporate entrepreneur who will excel in this area has some characteristics in his personality. And if you do not have it, now that you have knowledge of that information, you know you can – and should – develop it. Some of the main characteristics of corporate entrepreneur are:
1. Daring, creativity and courage
He who is creative and daring knows how to take advantage of the good opportunities that come along in the way. You must act wisely, of course, and know which opportunities to take advantage of.
However, it takes a dose of boldness, creativity and courage to know how to do it in the best way. It can be said that this is the basic corporate entrepreneurial profile.
2. Believe in innovation and change
Having an innovative spirit is necessary to develop corporate entrepreneurship. This does not mean having revolutionary ideas every day, but rather identifying and investing in small daily changes. With time, they will bring significant results to the company.
3. Develop the systemic vision
The ability to develop a systemic view is related to the general domain of the company. Know what happens at all stages and positions of the corporation.
By developing this capability, the employee sees his role in the company better. You will also know what actions to take to improve the integration of other employees – and what you can do to improve yourself.
Developing this systemic vision is imperative for all employees with a corporate entrepreneurial profile.
4. Be persistent, dedicated and self-confident
To develop these three characteristics, one must have an earlier quality: self-knowledge.
The person who knows himself/herself well knows his/her strengths and weaknesses. With this, you know how to improve, what deserves dedication, how to do to be persistent, among others.
5. Know how to lead and manage
Employees who wish to develop the corporate entrepreneurial spirit must develop leadership and management skills.
The sense of leadership shows that the professional wants to learn about the company and knows how to listen to others.
Another characteristic needed to manage and lead is to have good communication, charisma and relationship with everyone.
Must be respectful, have character and communicate clearly. By investing in these characteristics, you gain corporate respect and become an inspiration to everyone.
Does your company already work with corporate entrepreneurship?
Entrepreneurship within companies is something that brings results for everyone and with our tips you can identify what is a corporate entrepreneur within your own organization.
Employees with a corporate entrepreneurial profile are valuable and should have their value recognized.
Now that you know what corporate entrepreneurship is, how about implementing it in your company? Follow Google’s entrepreneurial entrepreneurship example and create your own program according to your reality.
If you still have any questions about this, please let us know and we will be happy to help!
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