Corporate entrepreneurship, also known as having a creativity culture within an organisation, encourages employees to be innovative and think freely, without being constrained by the status quo. It is not only important for individuals to be creative, but also to exist within an environment that encourages them to be so.
Managers have a key role to play in encouraging this environment, often inspiring other with their own ideas. It is important to encourage a clear vision of innovation within their employees in order to allow them to thrive. The entrepreneurship of an organisation’s staff is a valuable resource which is often neglected by management insistent on following the status quo.
Fear of failure is often cited as the key reason employees do not attempt to be more creative and hence a culture where creativity is accepted and rewarded allows employees to thrive.
An ideas campaign, where employees are encouraged to generate at least one idea each, is often a good tool to encourage this environment. Again, without top-down encouragement this initiative is unlikely to be successful.
The recent surge of successful innovative start-up has shown us that without innovation it is impossible to be successful in modern markets, and encouraging corporate entrepreneurship may be the key to ensuring innovation occurs.