THE BUSINESS TRIBE

SIX THINGS CEO CAN DO TO BOOST INTRAPRENEURSHIP

In today's fast paced business world it has become even more important for an organization to be more innovative and thus more competitive, otherwise there is a risk of falling behind and in the worst case go bankrupt. Innovation and intrapreneurship is no longer an option but a necessity for survival and strength in the market, regardless of industry. There are some things a CEO/Manager can do to enhance creativity and innovation;

·         First and foremost, it is important to start discussing the issue in your organization. Management and employees need to focus on the importance of intrapreneurship.

 

·         Running "intrapreneurial workshops" at regular basis (preferably once a month), where the focus is on developing innovative ideas / opportunities without the early need to go into if generated ideas or choices are realistic and can be realized or not. 

·         Let the individual proposals be heard so that the individual team members feel that their voices will be acknowledged regardless of position in the company (has a major impact on the generation of creative ideas).

·         Implement some of the ideas so that employees can see that it pays to be creative and committed to the company's development. If it feels too risky or costly to implement the ideas, it is advantageous to start with smaller projects so that the organization feels that they have the ability to bring an idea all the way to the finish line. It will be easier to implement major projects eventually.

·         As a leader, you may want to show appreciation when your employees are innovative and come up with new ideas and suggestions. Although these do not lead to major breakthroughs very often, it is crucial that innovativeness and intrapreneurship exists so that future development of your company can be secured. Such culture within your organization should be rewarded.

·         Follow-up is important, whether it is about budget tracking or innovation. Evaluate how many ideas / innovations are generated per year and how many of them are realized. Such monitoring can give you as manager information about if your organization is stagnating or imbued with innovation and intrapreneurship and moving forward.