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An Entrepreneurism Checklist

This article accompanies Leap of Faith.

Wednesday, May 7, 2014
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Questions to consider when trying to determine if entrepreneurism is alive in your organization:

* Is your innovation strategy distinct and aligned with the resources, funding, sponsorship and innovation metrics needed to drive growth and achieve a competitive edge?

* Do employees who are engaged in your innovation efforts have the entrepreneurial competencies and capabilities that distinguish them from others and enable them to build new businesses?

* Do managers encourage entrepreneurial thinking and action by delegating resources and allocating separate funds of innovative projects?

* Are employees given the decision-making latitude, freedom and authority to test their ideas? Are they recognized for their efforts when they succeed and fail?

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* Are employees given time away from their regular job to pursue short-term and longer-term innovative ideas? Do they request funding for ideas that look promising?

* Are managers willing to take bold, aggressive and wide-ranging actions necessary to achieve business objectives and gain a first-mover advantage?

Source: Susan Foley, managing partner, Corporate Entrepreneurs, Melrose, Mass.

 

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