During Disruptive Change
One of the most competitive advantages that any organisation has are its people. When an organisation instills in its people the confidence to think, behave and act as entrepreneurs, they have understood the potential value that corporate entrepreneurship, as a culture, possesses. This is done in the interest of fulfilling the intended purpose of the organisation to the benefit of the stakeholders involved. It is not about one or a few talented individuals, it requires a diversified portfolio of people, working together, guided by one long term business strategy. It involves active teams engaged in a process of willingly working together, to create, implement, drive and follow through with an innovative idea that delivers measurable value.
Charles Darwin taught us that it is not the strongest of the species that survives, nor the most intelligent, but the one that adapts to change. Never has this been truer, than in today’s highly competitive and rapidly changing business world. Even more so with the newest game changer on the globe, Covid-19. It is no longer news that some of the longest standing ‘species’ in the business world are catastrophically affected by the impact of the pandemic. If ever innovation, creativity and drive were required by an organisation from its people, it is now. Not for a temporary period, but as a set new way of operation. The time is ripe for employers to start creating and facilitating entrepreneurial climates that are conducive to seeking opportunity, advancing innovation, and service. The time is now to start developing leadership as a character trait and not only as a position of power or authority. It is time to enable employees to start showing up as entrepreneurs and no longer as hired hands.
Organisations should set new and agile standards of employee participation in company successes. Employees at all levels of the organisation should be invited to become co-owners of the business. It is certainly easier said than done, but it is better said and tried. There will be very little ease in many transition strategies set out in this era. If you do not change with change, change will change you. Encouraging people participation develops employee involvement and commitment, which are two very valuable and somewhat rare responses from employees, during forced and sudden change.
Besides fear, doubt, uncertainty and the like, difficult times bring about limited resources. Where there are limited resources, smart internal and external partnerships are required by combining the principles of entrepreneurship with the practices of leadership and operation. Embracing corporate entrepreneurship, as a standard way of operation, might be the difference between evolving with the change and becoming a commercial casualty of the change. This article does not imply that corporate entrepreneurship is a solution to the negative impact that Covid-19 has had, and continues to have, on businesses. However, it is a good time to appreciate that change does not always happen gradually, nor does it always alert those affected. Corporate entrepreneurship may be the mitigating strategy for future, maybe similar, economic disrupters.
