Sometimes you only need look within your organization to find the innovators who can take it to the next level. Entrepreneurs work everywhere, not just in start-ups. According to author Neal Thornberry, the entrepreneurial spirit can thrive in large corporations, too, and Lead Like an Entrepreneur describes how it can and does.
After outlining the background and basics of entrepreneurship in corporations, Thornberry devotes several chapters to types of entrepreneurial leaders labeled as explorers, miners, accelerators, and integrators. Market-focused explorers concentrate on developing new markets, services, and products. Miners are more concerned with their company’s operational issues and make the company run more efficiently while serving customers better. Accelerators are also company-focused but from a human perspective; they constantly challenge their colleagues to think and act in more innovative ways. Integrators embody these three skill sets and look at the big picture, concentrating on the strategy of the enterprise as a whole.
One example of internal entrepreneurial success highlighted here is Siemens. Siemens’ idea management program compensates staff for suggestions on how to save money and promote efficiency. During a twelve-month period, almost 200 suggestions flowed in and 80 percent were accepted, saving the organization an estimated $3.4 million.
Thornberry, a PhD and faculty director of Babson College School of Executive Education, is founder and president of Impact Strategies, a consulting firm specializing in organizational change, strategy implementation, and the development of entrepreneurial leaders within a corporate environment.
- Sarah Jane Gilbert