If companies want to encourage an entrepreneurial spirit, they must create a culture that accepts failure. Unfortunately, most companies don’t do that. And in the absence of managerial support and proper incentives, employees are less willing to try new things. One way that companies can prevent this from happening is to reward efforts, not just outcomes. By providing rewards — both financial and non-financial — for exhibiting entrepreneurial behaviors, companies will encourage employees to take risks without the fear of failure.
The Daily Idea from Harvard Business Review
SOURCE: Why It’s Hard to Be Entrepreneurial by Matt Reilly. Reilly is managing director for Management Consulting in North America at Accenture, a global management consulting and technology services company. To learn about other new research, follow Accenture on Twitter.