How “entrepreneurially minded” is your organisation?
Exploring “increasing uncertainty” and why many corporate innovation programs fail to deliver on expectations, leads us towards the need to develop an “entrepreneurial mindset” within an organisation. This is a key differentiator between organisations that continue to find new ways of generating value and those who struggle.
A definition can be sometimes helpful to help get a leadership group or team on the same page. The Financial Times has defined an “Entrepreneurial Mindset” as:
“… a specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes. Individuals with entrepreneurial mindsets are often drawn to opportunities, innovation and new value creation.”
With that definition in mind, it is worth pausing for a second to consider, not just “How entrepreneurially minded is your organisation?” but, “What does an entrepreneurial mindset translate to for my organisation?”
Moving from definition to the “real world” my research shows that organisations with an embedded entrepreneurial mindset exhibit two key characteristics:
- they regularly and proactively explore and create the new, i.e. “to innovate”, and;
- they mobilise to implement and scale the new opportunity i.e. the ability to “adapt”, better than others
Before rushing into your first design challenge, pause again and consider:
- How effective is your organisation at developing new ideas and creating a new set of strategic options? And;
- How effective is your organisation mobilising to implement and scale the opportunities (the adaptation)?
For without both capabilities, no potential value can be captured, nor sustained!
At Howcanwe? we help organisations accurately plot their existing and desired positions on “below” two by two matrix, to then help them on their journey to develop and embed a more entrepreneurial mindset:
The journey towards entrepreneurial mindset always starts with challenging individuals and teams to reflect on the status quo and where they believe they are in order to then envision where they want to be.
Looking forward to the proceeding discussions.
Howcanwe? is conducting a baseline study, to enable individuals and companies to compare themselves between each other.
To participate in this study please proceed through to the link. After completion when there is a sufficient sample base you will receive a snapshot based on available data. This will include your position, your organisations overall average (if available), your industry average and a market overall average.
Complete now and start a conversation within your team.
Study link: http://hcw.io/1MSKqPt
Originally Post: August 30, 2015