How Can Big Companies Keep the Entrepreneurial Spirit Alive?

Wherever you look in business, there's a new level of interest in entrepreneurship. As attention at corporations swings away from retrenchment and toward growth, more and more people are wondering why some companies are able to stimulate creativity and initiative among their employees more effectively than others. What do those organizations do to convert intriguing ideas into commercial ventures? We asked a number of managers who have been involved in creating entrepreneurial environments to consider several key questions: How important are incentive and reward systems in establishing an entrepreneurial culture? What attitudes toward risk and reward are most appropriate, and how should they be communicated? Do companies need to change the way they hire and train people? How often must companies reexamine their systems, structures, and informal processes? Five corporate managers share their views. "We may have to change a goal if we decide it's not realistic, but we don't fire people for taking a calculated risk and failing." George N. Hatsopoulos Thermo Electron Corporation. "Most entrepreneurs want to move quickly. If they are stuck in a process that drags on and on, they will get antsy...and worry that the window of opportunity is closing while their sponsors are still making up their minds." William F. O'Brien, Starlight Telecommunications "We don't judge people strictly by results; we try to judge them by the quality of their efforts." Bill Harris, Intuit. [ABSTRACT FROM AUTHOR]