CREATING AN ENTREPRENEURIAL CULTURE IN ORGANISATIONS

 

Defining Organizational Entrepreneurship

At the organizational level, entrepreneurship has been defined as the organizations ability and risk taking talent aimed at benefiting from new opportunities or creating new opportunities by producing new products or services. An entrepreneurial organization combines several aspects of entrepreneurship and firm flexibility to make it possible for junior and senior managers to attract the attention of the decision makers.Entrepreneurial organizations differ from managerial organizations by their structures and characteristics; they have a specific innovation model, decision/financial model, selection process, human resource management and resources gathering, and utilization scheme.

 

Entrepreneurial Culture

Entrepreneurial culture is a term derived from two words ‘entrepreneurial’ and ‘culture entrepreneurial as an adjective describes how the entrepreneur undertakes what they do, there is a particular style to what entrepreneurs do things. Being entrepreneurial is a behaviour that can be demonstrated and manifested regardless of the nature of involvement in an organization. Culture on the other hand is an attribute, values, beliefs, and behaviour which can be learned or acquired from one generation to another, from one individual to another, from one group to another as long as one is a member of that particular society .Culture therefore, has the ability of distinguishing one group from another. Thus, the nurturing of certain attributes, values, beliefs and behaviour indicates an attempt to foster a certain type of culture in a society

 

In this day and age, organizations must be able to adapt and react quickly to new opportunities and changes. Instilling the right culture will help to sustain and grow as an organization. Without an entrepreneurial culture, employees will find it hard to  enjoy their work and as a result, organizations will experience a decrease in performance and high staff turnover.

 

Entrepreneurial Organizations

Many organizations have adopted an entrepreneurial culture. Within this environment, employees perceive themselves as entrepreneurs. Which allows them to identify opportunities, take calculated risks, and make decisions. The strong sense of ownership and empowerment is a driving force of innovation .Entrepreneurial organizations are characterized by a set of organizational attitudes and behaviors and demonstrate competencies such as ;opportunity recognition ,organizational flexibility, ability to measure, encourage, and reward innovative behavior

 

 

 

 

Establishing an Entrepreneurial Culture in your Organization

 

Organizations of all types can adopt an entrepreneurial culture.An entrepreneurial culture does not just grow on its own it requires hard work and tact,it must be nurtured. An entrepreneurial culture must be deliberately cultivated through concerted action, including modeling, structure, constant communication and positive reinforcement. It is important that you focus on bringing out the mindset of an entrepreneur in your employees by encouraging new ideas, creating an environment that fosters creative thinking ,facilitating, networking opportunities, emphasing  autonomous thinking and inspiring staff to challenge the norm. Make your employees Intrapreneurs. An intrapreneur is completely different from an employee. They have a different mindset and they bring you dramatically better results than employees do. An “employee” is someone who wants to be managed. They want simple, repetitive work. Whenever there’s a decision that involves risk, they want you to tell them what to do. To establish an entrepreneurial culture, Identify your Intrapreneurs among your employees because not all employees are intrapreneurs, give equal opportunity for all, Empower employees, Increase the risk-taking quotient, be transparent, give time and space for employees to experiment ideas, applaud and reward innovative ideas

 

 

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