Entrepreneurial Opportunities in the Healthcare Industry Most traditional organi
ID: 419511 • Letter: E
Question
Entrepreneurial Opportunities in the Healthcare Industry
Most traditional organizations have not seriously considered entrepreneurship as a desirable path for their employees.
Describe in detail one way an organization might successfully cultivate an entrepreneurial spirit while continuing to increase efficiency within its routines and structure Support your answer with an example
Your essay should be 1-2 pages in length and follow APA formatting and citation. Your textbook may be used as a reference. Your essay should be 2 pages in length and follow APA formatting and citation. Your textbook may be used as a reference.
The APA format for your text is as follows:
Hisrich, R., Peters, M., & Shepherd, D. (2017). Entrepreneurship (10th ed.). New York, NY: McGraw Hill.
Explanation / Answer
Organization may successfully cultivate an entrepreneurial spirit
Foster a workplace culture that challenges the norm by rewarding people for developing new solutions that consistantly propel the business forward. Transfer as much decision making as possible to your employees, driving it down and throughout your organization. Doing so will nuture innovation , instill ownership and build accountability for company success. It will also ignite an electric yet sustainable energy and enthusiasm that will set your company apart from other, more traditional organization.
Companies that are alive with the entrepreneurial spirit are on fire. From the moment you walk in their doors, you immediately notice these businesses are different in a good way.their product and services stand apart,providing solutions or demonstrating feats of crativity that make life smarter, easier or better. And the people behind this organization , from the receptionist or greeter to mid level managers and talk tier leaders, all these folks are happy to be working in an environment that so different and dynamic. Among other things, these companies have learned how to-
> Hire the right people. when it comes to staffinf for success, companies that foster an entrepreneurial spirit dont higher worm bodies. They invest resources upfront to screen potential candidates with the goal of onboarding the right people for the right position. They also higher people who understand the value of teamwork and demonstrate a willingness to serve as a team member. When interviewing, these bisinesses will even ask potential hires for examples of how their skills and talents could support and enhance ream well-being.
> Empower the staff. The solutions to all your company's challenges lie within your people. The goal is to create a workplace environment in which the right solution surface ,for example one in which everyone feels comfertable sharing ideas, discussing and deveping answer to proble, and using their skills and talents to transform those possibilities into real products or services.while your staff will reruire clearly define boundaries, goals and metrics aligned with their targets,you have to trust your people and give them the rope they need to explore new directions, take occassional risk and even push the envelope from time to time to achieve their goals In an entrepreneurial culture, this is precisely how employees learn and evolve for better.
> Reward success. Just as you assign measurements of success to your companies goals, you have what to recognize achivements and establish a system of reward that clearly relates to what you are asking your people to do. For instance, if it's uncertain why people are getting honored for cetain achivements but not others, the culture becomes confused, unmotivated and possibly even distrustful, undermining all your best goal-setting and management intentions. Rewarding the right behaviours is a technique that encourages and reinforces success.And in an entrepreneurial environment, this is one of the easiest, best ways to get more of the behaviours you want an the results your company needs.
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