Thursday 10 October 2013

Qualities in Businesses that foster Entrepreneurship

By nature Entrepreneurs are individuals who are bubbling with energy and ready to pounce towards an opportunity when it arises. However, one thing that that can seemingly limit the way one takes advantage of their inherit qualities and external opportunities in business is the influence of the leadership style they exist with. One could be extremely creative, innovative and energetic however if they were under the strict guidelines and policies of a business, that did not empower employees in expressing themselves but had their own way of doing things, these assets the business possess would simply be at unexploited thus limiting the business in achieving it's goals.
 On the contrary; when a business has a flat structure, employees are empowered, voices are heard and recognized and the corporation culture is inviting and laid back employees feel much more liberated and at ease which would allow them to be themselves which is believed that their  inherit qualities will shine thus benefiting the business with good. Think of Google employees, they are offered heaps of on campus activities that make work fun and inviting and their management structure is very laid back - as long as you get your assigned tasks done - that's all that matters. 

On way managers can also foster entrepreneurship is to be honest with their staff, and be forthcoming from day one with the team. The team sources their decisions and guidelines from the manager so one needs to be transparent to get the best out of their employees. This is important because you're not guessing what people might think of you or the tasks, you just do what you do best and give them confidence to tell you if you're right or wrong and if there's a better way. 

Another way of management is to always be optimistic. Doing business, especially being an entrepreneur, it is full of ups and downs which will sometimes shake and even break you. But seeing this is all normal and perhaps a passage of rite - that is the more errors one makes, the better they come out in the end and even more ready to pounce upon the next opportunity - the employees feel at ease in times of difficulty and use this as their motivation to be even better. This attitude inevitably always has employees performing at their pinnacle and thus avoids situations where they are still recovering from a previous failure. 



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