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BiPM Encyclopedia →
Execution Making-it-Happen
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SECTION - Entraprenurial Execution
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In today era of uncertainty and insecurity, its the entrepreneurial mind-set which will propel organizations to achieve results. Organizations have to operate like an entrepreneur, who keeps strategy & execution hand-in-hand, spends like its his own money, ready to listen and extremely agile.
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Chapters
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Today's organizations desperately require an entrepreneurial mind-set (irrespective of the size). This chapter sets the context for entrepreneurial traits which are key to 'Execution-Making it Happen'.
Topics in this chapter : Why Entrepreneurship should be a core organizational value for Execution Excellence → Organizations need to re-structure for building entrepreneurial culture → There is a difference between being an entrepreneur and entrepreneurial mind-set → Identifying Entrepreneurial Minds → Nurturing Entrepreneurial Minds →
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This chapter goes into the details of business management traits of an entrepreneur, which should be applied in organizational context. This includes 'thinking of possibilities', 'having an equal focus on topline & bottom-line', 'managing ambiguities' and high agility.
Topics in this chapter : Assume that you do not have someone else to think for it → As you think of the problems, think about possible solutions as well → Build your team’s depth as you are going to scale-up your business → Keep on thinking on how you can make it cheaper, faster and better → Maintain equal focus on ‘top-line’ as well as ‘bottom-line’ → Instill the capability to manage the ambiguities and unknowns → Do not expect all the answers and also provide the answers →
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This chapter goes into the details of financial management traits of an entrepreneur, which should be applied in organizational context. This includes 'spending money as it is mine', 'looking at a business plan as if I am the investor', 'buying only what I need and not what I want' and 'protecting cash with your teeth'.
Topics in this chapter : Do procurement as its your own money → Protect your cash with your teeth → Create or review a business plan, do it as if you are the investor → Estimate your business requirements, so that you are buying only what you need → Make investments into assets after thorough diligence → Ask yourself ‘Would I have done the same thing, had it been my own money’ →
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This chapter goes into the details of customer management traits of an entrepreneur, which should be applied in organizational context. This includes 'calibrating and differentiating customers', 'guard your valued customers', and 'optimizing customer churn'.
Topics in this chapter : Guard your customer-base → Get the maximum out of your customers → Spend your resources according to the customer-value → Build your practices as if your customers are going to shift next day → Spend as much effort in acquiring as in servicing and retention → Ensure optimum customer churn →
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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.
Topics in this chapter : Entrepreneurial Hiring and Training → Entrepreneurial Planning Process → Entrepreneurial Performance Management → Entrepreneurial Rewards and Incentives → Entrepreneurial Knowing and Responding to what's happening →
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