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Execution-MiH ENCYCLOPEDIA →
Execution Making-it-Happen →
SECTION - Entrepreneurial Execution →
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CHAPTER -
| Making Entrepreneurial Environments |
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An organization needs commitment to build entrepreneurial mind-set. Given the commitment, it can be simple to achieve the objective. The entrepreneurial culture is built through a common thread which runs through training, job-descriptions, leadership competencies and rewards & incentives.
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Topics
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Entrepreneurial Hiring and Training
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Entrepreneur will place a great emphasis on hiring proven field track-record and attitude. He will look for low-voice and persistent leadership. He will look for adaptability and flexibility. He will value people who are ready to experiment, are inquisitive and highly cost-conscious. He will not be impressed by the charisma or inspirational personalities, but the results on the table.
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Entrepreneurial Planning Process
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An entrepreneur keeps planning & execution hand-in-hand. He plans for different horizons of month, quarter, year and 3-5 years. The best part is that he planning cycles are short & swift. He can look and revises his plans every quarter by spending minimum time. He does not get into an intellectual self-indulgence of long annual planning.
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Entrepreneurial Performance Management
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An entrepreneur will investigate & analyze both lower & higher-than-expected performance. He cannot afford or blame 'other factors' on low-performance. A business minded persona would drive an expectation for course-correction much before failure, instead of 'learning' from failure. He will put equal emphasis on consistency of performance. He will factor in the difficulty-level of performance, and also look at the smartness of effort.
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Entrepreneurial Rewards and Incentives
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An entrepreneurial business leader will reward for initiative, risk-taking and delivering in uncertainty. He will structure the incentives to enhance the fundamental execution capacity. He compensate the critical skills more than the non-critical ones. He will pay minimum for maintaining the status-quo and more for constant improvement
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Entrepreneurial Knowing and Responding to what's happening
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An entrepreneurial business leader will have a real-time connect with at-least the brutal parts of business reality. He will build a capacity to know what is happening? and why is it happening?. He will drive his team to spend less time in contesting on the real-picture and more on doing something about it. He will be hungry of facts and hate the speculative and judgmental inferences.
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All Chapters in "Entrepreneurial Execution." Section
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