The art of entrepreneurship can be profitably applied in large, established companies as well as in small, start-up ventures. I'm the chief executive officer of an old firm with over 400 employees. We are profitable, but I am convinced we could do better if I could just get my managers to act like entrepreneurs rather than bureaucrats. Such change requires the creativity and leadership of an entrepreneur who can strategize, seize opportunities, innovate, take calculated risks, and move quickly and decisively.
Executives enjoy the authority to experiment, test and make changes.
Opportunities are available to try new approaches to product development, marketing or production and processing. Easy access exists to other decision-makers within the firm and to all of the firm's customer constituencies. A tolerance exists for unique behavior and failure. MetaManagers need recognition for unique performance to keep the level of confidence and self-esteem that is necessary for successful entrepreneurial behavior. The presiding CEO is a team leader who is able to articulate a vision, coach, take risks and share the spoils.