An entrepreneur decides to bear certain risks in order to concretize a creative initiative and enjoy its rewards. However, the source of entrepreneurial activity is often attributed to a single individual, but what happens if employees in big corporations are encouraged to act as entrepreneurs?
Growing a company can be achieved through many different means, but when referring to industry leaders with tens of thousands of employees, finding the right way to sustain growth and manage to stay a worthy leader might be trickier. Thus, how can big companies benefit from an entrepreneurial employee’s culture?
The aims of promoting such a culture are of multiple natures, by fostering creativity, it encourages employees to find innovative solutions and to implement them efficiently. Moreover, it places them in a position to convert their own ideas into concrete business applications. The employees are ultimately the source of a company’s growth and if they are inspired to grow alongside a company, given that they were chosen correctly, they will in the long run contribute to grow the company itself.
Instigating such an entrepreneurial spirit, is achieved through different methods (i.e. pushing down decision making further into the organization, providing a sense of purpose to your employees,
In the case of Essilor (Global lenses’s industry leader), their mission statement: “helping people see more, be more and live life to its fullest” is a vision that employees can relate to and this strong intangible feeling of ‘contributing to the greater good’ is an intrinsic motivation for employees who would find personal achievement in this social mission rather than strictly in financial rewards.
Furthermore, building on this example, and since Essilor is the industry leader, it has the power to set new boundaries in the industry in terms of product development and people’s management possibly with the help of an entrepreneurial culture supported by its employees.
In the end employees as they are the ones who will not only bring the company but also the industry to the next level.
In order to implement such a culture in the company Essilor has a bottom-up structure which enables more freedom in decision making processes by increasing agility and fluidity of tasks and goals communication in a mostly decentralized company. Its structure is horizontally differentiated, meaning that hierarchical authority is not present which further enables quick decision making across sectors, and thus reduces the need to refer to supervisors.
People are motivated by the fact that they can make their own roles; they have the ability to shape
Benefits of creating an entrepreneurial culture are numerous both for a company and its employees, while barriers to implementation are very low, it is efficient to support leading companies that are seeking to keep an hedge in their industry and develop multiple different employee’s skills on the long term that will keep on benefiting the business.