Employees with Entrepreneurial skills
Employees with entrepreneurial skills
In the recent rapidly changing landscape of neo-economy, secondary to globalization, advancement in technologies, e-commerce and global financial crunch, companies have to adapt and continuously innovate in order to survive and grow (Danneels 2002). Successful companies not only satisfy their consumers but also their other major stakeholders - the employees. It is vital to understand that a happy and satisfied workforce who is aligned with the company’s mission and vision and is also empowered to be productive is critical for the overall success of the organization. Empowered and engaged employees feel valued and take pride in their work. Successful firms recognize and reward employees for performance and behavior. Every leader knows that in the current market continuing to do business as usual is not enough. One has to think out of the box and introduce new, innovative goods and services. Thus organizations increasingly look upon innovation and creativity as pivotal in gaining competitive advantage. Building a successful company for the long run means hiring employees who own and take responsibility for their work (Andi Gray 2010). Many corporations have restructured their organization to encourage entrepreneurial culture (Kurato, 2006). It is important to promote creativity and innovation which in turn will increase efficiency and productivity and possibly the development of new products and services. This is what differentiates the U.S from the rest of the world, as there is fierce competition for labor across the global market. Organizations reward employees for displaying corporate citizenship and entrepreneurial skills by giving them promotions, bonuses, and recognizing them at annual company meetings (Entrepreneur.com, 2010). They also get several perks and a better workplace environment. For example, Google Inc., struck down all barriers that get in the way of their employees by providing
In the recent rapidly changing landscape of neo-economy, secondary to globalization, advancement in technologies, e-commerce and global financial crunch, companies have to adapt and continuously innovate in order to survive and grow (Danneels 2002). Successful companies not only satisfy their consumers but also their other major stakeholders - the employees. It is vital to understand that a happy and satisfied workforce who is aligned with the company’s mission and vision and is also empowered to be productive is critical for the overall success of the organization. Empowered and engaged employees feel valued and take pride in their work. Successful firms recognize and reward employees for performance and behavior. Every leader knows that in the current market continuing to do business as usual is not enough. One has to think out of the box and introduce new, innovative goods and services. Thus organizations increasingly look upon innovation and creativity as pivotal in gaining competitive advantage. Building a successful company for the long run means hiring employees who own and take responsibility for their work (Andi Gray 2010). Many corporations have restructured their organization to encourage entrepreneurial culture (Kurato, 2006). It is important to promote creativity and innovation which in turn will increase efficiency and productivity and possibly the development of new products and services. This is what differentiates the U.S from the rest of the world, as there is fierce competition for labor across the global market. Organizations reward employees for displaying corporate citizenship and entrepreneurial skills by giving them promotions, bonuses, and recognizing them at annual company meetings (Entrepreneur.com, 2010). They also get several perks and a better workplace environment. For example, Google Inc., struck down all barriers that get in the way of their employees by providing
References: 1. Danneels, E. (2002). The Dynamics Of Product Innovation And Firm Competences. Strategic Management Journal, 23(12), 1095-1121. 2. Gray, Andi. “Rewarding Entrepreneurial Performance.” Fairfield County Business Journal May 24, 2010: 9 – 12 3. Kuratko, Donald F. "Corporate Entrepreneurship." Foundations and Trends® in Entrepreneurship 3.2 (2006): 151-203. 4. The Best Ways to Reward Employees | Entrepreneur.com. (n.d.). Business News & Strategy For Entrepreneurs | Entrepreneur.com. Retrieved August 30, 2013, from http://www.entrepreneur.com/article/75340 5. Google 's Best Benefits: The Top 7 Perks Google Offers Employees. (n.d.). Breaking News and Opinion on The Huffington Post. Retrieved August 31, 2013, from http://www.huffingtonpost.com/2012/01/30/google-benefits-employee-perks_n_1242707.html 6. Smith, K. C. (2012). The top 10 distinctions between entrepreneurs and employees. New York: Ballantine Books.