What's the best way to encourage an entrepreneurial culture?

Tired of playing it safe? Our C-suite panel shares how they bake risk-taking into their businesses.

by Orianna Rosa Royle

Risk aversion is an understandable response to the coronavirus pandemic and its associated economic fallout, but let's face it, many organisations needed no excuse to be unenterprising.

Part of the problem is mistaking entrepreneurialism with its trappings - no quantity of bean bags, sleep pods, ping pong tables, exposed brick walls smothered with Post-it notes or standing meetings will actually encourage dynamic risk taking in a environment where failure is frowned upon and every single decision has to be approved by eight different managers.

If the downfall of Debenhams and the BBC's dwindling relevance has taught us anything, it's that companies that fail to reinvent themselves in today's sea of sameness will fail. When a business encourages safe choices and punishes bold ones, then creativity, momentum and innovation will inevitably stall.

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