Strategies for entrepreneurship and change management

The best place to start is by implementing a management strategy that will handle your hiring, marketing, and technological needs. Managing Uncertainty, Opportunity, and Enterprise by J. Spender Before entering the academic world, J.

Strategies for entrepreneurship and change management

Enterprise Innovation Sustained innovation comes from developing a collective sense of purpose; from unleashing the creativity of people throughout your organization and from teaching them how to recognize unconventional opportunities. Here are seven strategies for sustaining innovation in your organization.

And while a breakthrough product or concept can catapult an organization ahead of its competitors, in these fast-paced times, that advantage is often short-lived. Sustained innovation comes from developing a collective sense of purpose; from unleashing the creativity of people throughout your organization and from teaching them how to recognize unconventional opportunities.

It starts at the top Leaders create the psychological environment that fosters sustained innovation at all levels. The challenge is that as an organization grows, management structures and bureaucracies, designed to channel growth, tend to create barriers to small-scale enhancements.

While there are exceptions, in larger organizations employees tend to feel removed from the function of innovation and are less likely to take independent action or offer revolutionary ideas. The commitment to establishing the right psychological conditions for innovation needs to start at the top.

You need to appreciate the value of incremental as well as major innovations, understand the psychology of innovation and take the lead in promoting an innovative culture. Establish A clear sense of direction Changing cultures involves changing minds, and that takes time.

But as with any initiative, a clear sense of the target helps to speed the journey. What is the purpose of consistent innovation in your enterprise? Is it to add customer value to existing products and services… to speed delivery… to increase on-time arrivals? Having a clearly articulated message allows everyone to focus on innovation where it can deliver the greatest value.

Innovation, as Peter Drucker has defined it, means creating a new dimension of performance. A sense of mission clarifies the direction of performance and helps determine which new ideas to focus on.

Open communication Open communication between management and employees sets the stage for an atmosphere of trust. Company leadership initiates the process of open communication by sharing information with employees on a regular basis.

This includes good news and bad. The company kept everyone informed as fuel prices soared. Through inventive thinking, the pilots found ways to rapidly drop fuel consumption without compromising safety or service.

Leaders of organizations that sustain innovation offer multiple opportunities for communication. While not every company can offer an open-door policy for its senior executives, or even a chance for regular face-to-face contact, every organization can institute programs that enable front-line workers to feel heard.

A Guide for Entrepreneurs Who Lead and Manage Change | TIM Review

From CEO lunches with cross-sections of employees, to monthly division meetings between employees and the general manager, to open intranet forums for idea sharing and feedback, leaders can communicate their openness to hearing innovative ideas from those who are closest to the customer. Bureaucracy slows down action and is a serious impediment to innovation.

Smaller organizations can often move faster on implementing innovative ideas because they have less bureaucracy. Think for a minute. If you had an idea for an innovation, and it required 6 weeks to clear channels and another 3 weeks to get funding, would you have lost any impetus for further contribution?

Stock ownership is a significant, if not essential, incentive for employees. To encourage greater involvement, make sure each employee knows how his or her work affects company performance.

Southwest gave pilots the freedom to design and implement a plan to reduce fuel consumption because they were in the best position to determine what would be effective. Pilots pitched in enthusiastically because they understood the impact their actions had on the bottom-line and ultimately, on their own futures.How to Change Your Management Style: Making the Management Style Change Happen So you've taken all the steps to determine if a change is needed and decided that a change in management .

Social entrepreneurs focus on their mission for the change beneficial to the society not for their pocket or to gain profit and interest which business entrepreneurs do.

Moreover, in entrepreneurship, there are three strategies presented by Chin & Benne, () as general strategies effecting changes in .

Reeducative strategy works best when relationships between the formal and informal organizations are at least cordial and hopefully harmonious. If they are at odds with one another, this change strategy is denied to management.

Search form

1. The appeal of tactic overcomes the power of strategy. Culture change requires a compelling vision and a clear set of strategies. It also takes concrete tactics. the culture is laced with autonomy and entrepreneurship but has grown fat, dumb and happy, people will resent and perhaps oppose or resist authori- This strategy shifts the burden of change from management and the organi-zation to the people.

It exploits their natural adaptive nature and avoids the Four Strategies for Managing Change. The change-management approach should be fully integrated into program design and decision making, both informing and enabling strategic direction.

Strategies for entrepreneurship and change management

It should be based on a realistic assessment of the organization’s history, readiness, and capacity to change.

Network Strategies: Management Technology for Entrepreneurship and Change - Bengt Johannisson,