Encouraging people to think like entrepreneurs is key to maintaining a competitive edge. This tool lists 34 ways to help people in your organization think creatively and become in-house entrepreneurs or "intrapreneurs." (2 pages)
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34 Ways to Encourage Intrapreneurship
1. Drive out fear of failure. Fear is the innovation killer.
2. Put together in-house teams to track the competition, with each team focusing on one product or service niche. Hold quarterly update meetings for all teams.
3. Hire a consultant to track competitive trends on a regular basis. Ask him or her to present findings in a completely unvarnished fashion. Tell him his job is to push people out of complacency.
4. Regularly ask people: “If we could provide any additional product or service, what would it be?”
5. Send people from different levels of the organization to trade shows; create a regular forum for people to report on trade show highlights. Make sure that people from different departments attend.
6. Create a team of inter-departmental “imagineers.” Ask them to come up with a new product or service idea (consistent with your company’s purpose, values and vision) in one month.
7. Conduct regular focus groups of your customers. Screen new products from your competitors as well as your own products.
8. Put a suggestion box on your web site. Offer a trip to Bora Bora as a reward for the best idea.
9. Set a goal of creating one collaborative venture with another company.
10. Ask employees to talk openly about the things they think the company does well. Ask them to do more of it.
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