Thursday, April 02, 2009

Is entrepreneurial leadership the way out of global recession? - 19 Mar 2009

Is entrepreneurial leadership the way out of global recession? - 19 Mar 2009:

Pointing to the need for entrepreneurs in large companies (my note: otherwise in future dont allow any large company (bank, car mfg, food retailer/mfg) to become too big to fail for reasons of mkt chaos, size of pension scheme, impact on global competitiveness etc etc)

"In such uncertain times as these, large organisations need to be as flexible as possible, ready to change and develop rapidly to accommodate the shifting needs of their customers and the market as a whole. Yet many only pay lip-service to 'intrapreneurship' the internal version of classic entrepreneurship, or actively stifle it, fearing a loss of control. Recognising that 'intrapreneurs' often face an even wider range of challenges than their independent counterparts, professor Veronique Bouchard, who teaches on our Global Entrepreneurship Programme, has identified 10 pitfalls that intrapreneurial leaders should seek to avoid:

1.Thinking and acting like an independent entrepreneur
2.Counting on generous budgets, unlimited help and general goodwill
3.Relying on a single powerful sponsor
4.Taking too much notice (or no notice at all) of an immediate superior
5.Making a project visible too early
6.Concentrating on technical issues at the expense of the business plan
7.Ignoring similar or competing projects within the organisation
8.Postponing 'doing the numbers'
9.Failing to clarify expected rewards in case of success
10.Identifying too closely with a project

Of course the more cynical reader may doubt how much place entrepreneurial leadership has in the post sub-prime world. Is it not the route, they may ask, to the sort of ill-disciplined freedom of action that led us into the current crisis in the first place? In reply to this I would assert that entrepreneurship is not about removing all restrictions and ignoring the inherent dangers of unfettered risk. The true entrepreneurial leader enables and empowers"



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