What key things do you think a person can do to increase their chances of being successful?
Success can be obtained in corporate entrepreneurship by identification of talent and enhancing or fostering talents. It is important to note that talents within any industry vary among different people. It is necessary to identify the elite performers and carry an assessment of the talents they have to determine the necessary improvements that may be required. Allocation of appropriate funds and other resources is required to promote the individuals maximizing their talents. This results in extraordinary performance.
An entrepreneur not only needs to understand the external environment but also must have the ability to navigate through the large and sometimes wavy internal environment that often may be weighed down with politics. Employees and managers must be encouraged to be tolerant to failure. At all levels, the entrepreneur should create openness among the employees and managers.
Being visionary in terms of knowing where the business needs to be in the future and how to reach their. Having a viable dream means that a person must develop strategies to overcome obstacles but most importantly must share the dream with employees and managers in order to work towards achieving the dream. Employees tend to be more concerned with increasing their performance when they are of the corporate dream.
Creative management is necessary and this embraces thinking outside the box to see opportunities before others, utilize them before others and innovate once there is completion.
A successful entrepreneur makes everyone to become “a hero.” This can be done through being honest, intelligently sharing credit and making establishing a group of trustworthy advisors that operate within the company. Encouragement and professional help from advisors navigates the entrepreneur through obstacles and adverse situations.
Even as generation of innovations gets more difficult with growth in complexity and size, wise entrepreneurs can provide avenues for innovativeness through hiring of employees that have diverse skills and by cultivating such pertinent skills. People with different expertise give benefits that result from specialization.
Do you think that success depends mostly on luck or on the way you "play the cards you are dealt"?
Success is determined by the way we reflect and strategize and is never a product of luck. People who have embraced entrepreneurial thinking have the ability to recognize opportunities, tap them and benefit from them before others can see such opportunities. success is not centered on how long people stay in a particular industry, as this can be a reflection of luck, but it is rather defined through what such people contribute in every cycle of transition that makes them survive in the world of competition. It is the sum total of a person’s value of the contributions he is able to harness through a mix of expertise and transferable skills. Believing in luck limits a person’s ability to use talent and their skills in achieving growth and success of whatever they want to achieve. In a world of competition, luck does not have grounds, innovation does.
What is the key lesson you got from our study of personality/communication/emotional intelligence?
Any successful venture is greatly driven by higher emotional intelligence, good communication and generally good personality. Entrepreneurship deals with different people with different needs. For example high emotional intelligence can help a person to relate well with employees, establish good customer relations and generally have a good response to the needs of the customers and employees’ that at the end of the day determine success. Emotions can distract and discourage people from achieving their dreams just like poor communication can hinder success. It is therefore important to control emotions and enhance positive communication that is honest and cordial in order to win loyalty of the workers, customer’s .this is the only way to survive completion.
What are entrepreneurship/corporate entrepreneurship?
It refers to the formalized activities of entrepreneurial nature, within any existing firm or business organization. Internal formalized activities are ones that are given explicit resource commitment mainly for purposes that ensure innovative endeavor of a corporate that includes improvements in product, new procedures or methods.
