Article

Entrepreneurship: A befitting Response To Face Challenge Posed By Competitor Start-ups

by Hiranshi-Mehta
May 02, 2019 11:17

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Not every organization can be an entrepreneurial organization. It takes a lot of commitment and perseverance from senior level management authorities to sow the seed of entrepreneurship within an organization and further nourishing them. In modern time, employees seek much more beyond big fat pay cheques, bonuses, perks, etc. They look for an opportunity to leverage their knowledge and experience.

No wonder why, despite not receiving handsome compensation, today’s workforce is showing a great deal of enthusiasm and eagerness to be a part of a start-up culture. Even, senior employees those who have tasted success in their respective domains do not hesitate to toy with an idea to launch a start-up. After all, an idea of sovereignty is something that triggers an adrenaline rush.

There are a lot of ingredients that can be extracted from the start-up culture to blend with the ingredients of a matured organization. This new cooked recipe will not only be interesting but will certainly be worth its time and efforts. Let’s see how:-

Incubator Labs: - Intraprenurship is not merely a fascinating management term that has generated a lot of buzz in management, off lately. Matured organizations are now developing in-house incubator labs to encourage and nurture Intraprenurship. A commitment to impart a positive ambience to conceive an idea is the main concept behind such a lab.

Intraprenurship Fund: - To fund a potential idea worth funding is crucial to prove the authenticity of the developed Incubator Lab. These days, it is extremely effortless to get sponsors on the board in case if the in-house intreprenurial fund alone is unable to meet the demands.

Relevant Technology: - Investment in a relevant technology is the third crucial step towards developing a start-up culture in a matured organization. Without this, both (Idea and Fund) would be futile.

To conclude, it is not laborious to envisage the outcome when two distinguished ideologies would blend with each other in perfect harmony. Wherein, there would be an apt balance between risk-taking and risk-aversion. Intuition would be perfectly in-sync with expectations. Authority and responsibility would be a match made in heaven. Potential would co-exist with Optimism. Secure attachment and anxious attachment, together would offer the best of both worlds.