An entrepreneurial culture

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business-timing

According to a recent report, just under two-fifths of businesses want their employees to be more entrepreneurial, as 39% regard ‘injecting a more entrepreneurial culture’ as the main priority when it comes to training and development.

The research, conducted by Morgan Redwood, a leading expert in leadership development, is based on responses from the heads of human resource departments or board director level from over 250 businesses. These have been drawn from across the UK and from a mix of sectors and a range of company sizes, with two thirds employing over 250 people, and none less than 50.

Janice Haddon, MD of Morgan Redwood, said: “In today’s fast-paced environment, businesses can’t afford to stand still. They need to take advantage of whichever opportunities present themselves.

“With constant change a factor of the modern world, it’s becoming too much for one set of shoulders to bear. An entrepreneurial culture fosters the mind-set of spotting and developing new opportunities for business success throughout the company.”

Respondents to the study were initially asked how much of their turnover was dedicated towards staff training and development, which revealed the average figure to be 19.08% of turnover.

The study then looked to establish the priorities for training and development, which indicated that injecting an entrepreneurial culture was number one. Second place on the list of emphases was ‘encouraging greater teamwork within the organisation’, according to 35.2% of those studied, while ‘developing the leadership skills of the senior team’ was third, according to 28.4%.

Haddon added: “It’s interesting to see that the second and third placed priorities indicate a focus on creating greater cohesion, developing both teamwork and leadership. They are hugely important traits within any workforce. Combining these with entrepreneurial drive makes for a potent, and potentially very successful, mix.”