Question

how can a company develop an entrepreneurial culture?

Answer 1

Entrepreneurial culture involves promoting an environment of ownership, risk taking and innovation within the organization. To achieve this, employees should be motivated to participate in the decision making process and contribute new ideas in order to improve existing business operations/processes or provide basis for development of new products/services.

Employees should be encouraged to communciate/interact freely with each other. Managers should be approachable as and when required. An atmosphere of trust and cooperation should be established. When employees feel that their contribution matters in the success of the organization, they would be more willing to work harder and improve their performance on a consistent basis.

Employees should be treated equally and rewarded from time to time. Special rewards for exceptional positive behavior on work and innovation can be introduced. Failures (if any) should be treated as opportunities for improvement and employees should be motivated to communicate their issues and problems to the managers/senior management without any fear of adverse action against them. Performance appraisal shoudn't be baised and should take into consideration the actual contribution/performance of the employees.

Employees should be provide with trainings on the changes happening both within and outside the organization. Employer sponsored education programs can also go a long way in establishing employee loyalty towards the company. They should be encouraged to take new initiatives, assume difficult tasks and complex job responsibilities from time to time.

All the measures listed above will help in building entrepreneurial skills at the employee level and fostering an overall entrepreneurial culture within the organization.