In today’s business world, the only sustainable competitive advantage for an organisation is “creativity”. The ability to foster creativity, or what we in business parlance call “innovation”, is through the creation of a “start-up” culture.
Employee engagement and a sense of ownership in the organisation provide a rich soil for the germination of ideas. It should not matter from which rung in the organisation the idea has come. A leader should always be ready to listen and if the idea is good it should be celebrated. It should get the support it merits. Each new step undertaken is a learning process. Leaders should be clear that they allow for a degree of constructive failure around new projects and initiatives.
Nothing motivates like recognition. Recognising employees for their contribution to the organisation’s growth acts as a catalyst for others to follow.
(Anil Khanna, MD, Blue Dart Express)
Globalisation has bought in relentless competition and technological changes in the market and one of the ways companies are handling it, is by unleashing the entrepreneurial spirit of its employees, termed as “corporate entrepreneurship” or “intrepreneurship.” Intrepreneurship can be a major growth driver for organisations and leadership in these situations lies in the leaders mind-set.
Fostering internal entrepreneurship requires the leader to first recognise and believe that innovation is a strategic goal within the organisation. It requires the leader to have a strong sense of “psychological ownership” of work and team — to nurture the team to take risks, allow decision making at the lowest level, give employees a chance to share ideas and encourage them even in the face of adversity.
(Sandip Somany, Joint MD, HSIL Ltd)