Revive your company's entrepreneurial spirit

Do all companies truly possess an “entrepreneurial spirit?” Many executives seem to feel that this is simply not the case. Certainly, to grow and survive, businesses must originally be dynamic and innovative. However, with time, this youthful momentum dies as the organization becomes more bureaucratic and self-absorbed, and allows habits to become ingrained. Yesterday’s entrepreneurs become competent and conscientious managers, but are unlikely to help the company rejuvenate itself and cope with tomorrow’s challenges.

Aware of this issue, many leaders attempt to rekindle their organization’s entrepreneurial flame – with mixed results. Certainly, companies like IBM and France Telecom have undergone remarkable rejuvenation treatments, while other firms, such as 3M and Intel, never cease to amaze with youthful drive, innovative spirit and ability to stay in tune with the market. However, many companies get stuck in a rut, and their incapacity to respond to environmental changes becomes problematic.

The publications that we have selected take a close look at companies that have succeeded in maintaining an entrepreneurial spirit, and draw some helpful lessons, including the following three principles which we felt are particularly relevant:

– Identify and eliminate practices that hobble individual initiative.

– Establish infrastructures to support the development of innovative projects.

– Ensure that the entrepreneurial spirit of new projects spreads to the rest of the organization.