Corporate Entrepreneurship

entrepreneurship
Web definitions
(entrepreneur) someone who organizes a business venture and assumes the risk for it.

A few weeks ago, I had an interview with Aramex for an unknown position that needed creativity, as I consider myself a creative person, I was intrigued to see what they had to offer.

What I know of Aramex is that its a global transportation and logistics services company, established in 1982 with its headquartered in Amman, Jordan. founded by Fadi Ghandour. Which makes it one of the very few Arabic businesses to actually internationally succeed. As a resigned Graphic Designer, I know that the logo is taken from “ARab AMerican EXpress” before it was branded Aramex; which is so interesting and makes you think of a deep insight.

After Google-ing the Company I discovered that its ownership was bought and that Fadi Ghandour remains an honorary CEO and Co-Founder. Maybe one day I’ll even meet him.

A few days ago, I got an assignment, yes, an assignment to write about “Corporate Entrepreneurship”. I felt kind of giggly and terrified. I wasn’t sure I had what it takes to write about “my thoughts on implementing Entrepreneurship as a function within the organization”. But I decided to take the challenge to heart!

I guess that many companies today are realizing the need for corporate entrepreneurship. If you think about it, and from my personal experience comes this question, how many times had each of us had a really good and bright idea for improvement that company wouldn’t take on or even mock? Many times I suppose.

Which makes intelligent workers think about what would they do if they had their “own” company. Which makes such creative workers leave the team they’re in, to build their own ideas, in their own companies.

Any clever corporate would recognize that by refusing a bright idea, aka a bright employee that would only create a another competitor, and that won’t do, no name would remain as strong with one accomplished employee leaving after another, and creating another competitor is only making competing this much harder in a world full of today’s high-tech economy and entrepreneurs hip escalating everyday.

Which brings another question to the surface: what can a corporate like Aramex provide for employees to stay with the team and make the name even stronger?

Aramex needs to provide the freedom and encouragement for the team to develop their ideas. This is often a problem because many managers do not believe entrepreneurial ideas can be nurtured and developed in their environment. But managers need to develop policies that will help innovative people reach their full potential under Aramex’s wings.

By creating a system of feedback and positive reinforcement after trying the ideas many more would come forward with their ideas. This is necessary for potential inventors, creators, or entrepreneurs to realize that acceptance for their ideas can lead to actually making them a reality.

Emphasizing individual responsibility. Confidence, trust, and accountability are key features in the success of any innovative program, you must give the person with the idea the space needed to achieve it and taking full pride and responsibility for its success or failure.

Giving rewards based on results would enhance and encourage others to risk and to achieve, and not be terrified of failure. If each company makes the consequence of coming forward and falling so hard, no one will come forward. Tolerating failure is key to bring forth success.

Making the team of Aramex more relaxed with each other can create better work and more loyalty to the corporate. In other words, brainstorming sessions are priceless.

If this works, Aramex will attract the best people, because this means that Aramex promotes personal growth, retraining managers is another important motivator for the team, which means that if you don’t work hard enough, you might lose your position, if you don’t keep up with the new century, another younger passionate person can take your place.

The best people seek ownership, and the best companies will provide it with bonus plans, stock incentive plans, employee stock-option plans, profit-sharing and promoting a senior partner every year.

After all, “Innovation” doesn’t mean “Creation”. It means having a good idea made even better by a new person.

45-Fadi-Ghandour2

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