Have you spent time trying the latest courses, conferences and leadership tools but found yourself wondering if they had any real impact? You may be wondering if corporate enterprise is just the same.
For those who have made use of corporate enterprise they have found it to be anything but just another fad. Corporate enterprise creates a deeper more embedded working style which encourages collaboration within your organisation and enables staff members to feel more engaged and rewarded for the impact they are able to make.
Organisations that encourage corporate enterprise talk of lower staff turn over, improved customer service and increases in profits. Staff are naturally more innovative and ideas can be sparked from any area of the business.
Why is corporate enterprise so popular now?
For many of us we live in a time where our organisations are demanding more from us as individuals then ever before. It needs to be more profitable, deal with higher customer expectations and reduce costs. Yet we need to be innovative, forward thinking and provide different or unusual solutions to keep our customers coming back again and again. Corporate enterprise, also referred to as intrapreneurship, isn’t new but it has had a resurgence in recent times as it helps with uncertainty and is popular amongst younger generations.
What is corporate entrepreneurship?
Corporate entrepreneurship is a way of working which both encourages and enables the innovation of products, services and processes and the formation of new solutions within a pre-existing organisation. Core to the concept and its success are the following elements:
- Staff are well informed and aware of the needs of the organisation and their clients
- Ideas are developed from within the teams at any level rather than being a top down idea generation. Ideas can come from anyone within the organisation
- Ideas are considered in line with the overall aims of the organisation and the skills base of the staff members no idea is dismissed without consideration or explanation for its rejection
- Staff are kept informed and involved as ideas are developed
- Activities are carried out by individuals or teams to enable the ideas to be embedded in the organisation.
- Failures are seen as learning opportunities not a reason for blame or stopping the project.
- All advances and successes are celebrated and staff are encouraged to be involved in the next steps of the project.
But why and how?
Corporate enterprise requires teams to be informed, encouraged and supported. It needs a learning environment and not a blame or fear culture. Staff who are encouraged to be enterprising feel more connected, involved and part of the organisation enabling them to feel more engaged. The more they are engaged the more they feel comfortable and confident in being enterprising. It’s like an ever improving cycle of development.
Enterprising staff can develop new ideas which can spin off to form new divisions or companies or simply develop a new way of working which saves time and effort and possibly even money. Enterprising staff are more willing to consider the customer needs and able to provide customers with a more personal solution.
If like many firms you have looked at innovation, corporate enterprise takes this work and builds on embedding it into your organisation for clear results. In addition, staff feel more involved and you are able to retain some of your highest achieving people and brightest sparks. Corporate enterprise can be about radical shifts or gradual incremental change. But it should always be about trust and engagement with your teams through a clear process.
Are you already encouraging corporate enterprise in your organisation? If so I would love to interview you for my forthcoming book, just drop me a line at firstname.lastname@example.org thank you.