KB 57 Entrepreneurship

a human resource newsletter issue no 57 | april 2013

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FOUNDER’S COLUMN Niket Karajagi, Founder Director, Atyaasaa elaborates on ‘Intrapreneurship - Entrepreneurship A Fascinating Combo’

THE OD CONNOISSEUR’S ORATE Vishnupriya Pandit, Independent International Consultant, OD and Leadership Development, talks about ‘Embracing Change with GenerationY’

THE OD FOLLOWER’S ORATE P B Nageshwar, Head HR, Oberoi Realty Limited, discusses ‘Entrepreneurial Employees: Need of the hour’

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EMBRACING CHANGE WITH ‘GENERATION Y ‘ For the !rst time in history we have four generations working together with Generation Y, the newest entrant, at the helm of the activity. A downturn in productivity is inevitable if the four generations do not acclimatize and work together. For competitive advantage today, organizations require employees who own their work and are accountable. This creates a need for a workforce that is proactive, independent, sensitive to ambiguities of the environment and willing to accept changes as quickly as the Indian market accepts di"erent clothing brands. We would all like employees who work with minimal supervision but do our systems support this?

THE OD CONNOISSEUR’S ORATE VishnupriyaPandit

Vishnupriya Pandit has over 14 years of extensive work experience in the areas of Learning, Development and Talent Consulting. She is a certified OD specialist and her last role was as AVP - Learning and Development, with AXA Business Services Pvt. Ltd. She has been a part of multiple projects, which also include winning an award for her contribution towards the Diversityand Inclusiveness InitiativeatAXA.

She is anMBTI ® Certified practitioner and has designed interventions and facilitated for leading multinationals. Vishnupriya currently works as an independent international consultant in leadership development and organization development in the HR space.

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THE EDITOR’S MESSAGE

ABOUT ATYAASAA

The theme of the next issue of Knowledge Beans will be ‘Performance Appraisal: Current Trends and Practices’. If you share a passion for the topic and have a flair for writing, do send us your 300 word article with a brief profile along with your photograph in jpeg format to atyaasaaeditor@atyaasaa.com In recent times, the term entrepreneurship has been extended to include aspects not necessarily related to creating a business but more in terms of a specific mindset resulting in entrepreneurial initiatives within an organization. Entrepreneurship within an organization alludes to Intrapreneurship and may include activities like corporate venturing, where large organizations create spin-offs e.g. ideas for new products being implemented by an employee who then becomes an Intrapreneur.

Atyaasaa Consulting Private Limited is a leading Human Resource Training & Consulting Organization partnering with some of the best brands in the country and overseas.Atyaasaa has been a catalyst and a contributor in their quest for people development and business

excellence. The core differentiator of Atyaasaa process is continual innovation, unique customization and use of state of the art technology tools. These are implemented through ethical and experienced operations and human resource facilitators having contribution as their core value. Write to us For information : info@atyaasaa.com For contributing articles : atyaasaaeditor@atyaasaa.com For suggestions : feedback@atyaasaa.com

a human resource newsletter

issue no 57 | april 2013

continued from previous page | EMBRACING CHANGEWITH ‘GENERATION Y ‘ : Vishnupriya Pandit

ENTREPRENEURIAL EMPLOYEES : NEED OF THE HOUR Nowadays organizations that recognize the need to leverage this diversity and build a culture encompassing both old school leadership and new age entrepreneurial structure, are introducing systems that help unite di!erent working styles. Some of the practices being used are reverse mentoring, "exible KPIs, leveraging social media and communication through one to ones, cross generation transversal working groups etc. The ever changing global environment has fundamentally transformed the way organizations function. The current environmental factors in"uencing business like a volatile economy, rapid change of technologies and continuous variation in customer preferences present both challenges as well as opportunities. Organizations that re"ect an entrepreneurial culture bene#t from these scenarios. Employees who display traits of entrepreneurship not only have a distinct advantage over others, but also are more likely to be successful. So who are entrepreneurial employees? How are they di!erent and more importantly why are they more likely to be successful? To discover the answers to these questions, it is important to discern entrepreneurial traits like: Ownership: Entrepreneurial employees react to a situation much like an owner would. They assume complete accountability and the buck generally stops with them. They push hard, pursue goals against all odds and bring things to a logical conclusion. Result focussed: They combine e$ciency and e!ectiveness but with more emphasis on e!ectiveness. They are not satis#ed with e!orts alone and they de#ne success as accomplishment of desired results. Ability to take calculated risk: One of the striking di!erentiators of these employees is that they are inclined to take greater risk and do not fear failure. They learn quickly from mistakes, take calculated risks and thrive in uncertainty. Change drivers: They challenge status quo, possess drive and create winning teams capable of facing external realties. They in"uence all stakeholders and align them with their own vision. While most organizations are excited to have accountability in their list of competencies, very few make changes that would drive ownership by creating an entrepreneurial work culture. Each generation of employees has certain expectations in return for a unique skill set that they bring to the table. Generation Y, requires a transparent line of sight and visibility. This social media savvy group wants to work with leadership that is inspirational, approachable and connected. They would like to feel like entrepreneurs - of, by and for their organization. They wish to feel connected and to contribute creatively in di!erent areas of the organization. In exchange, they are willing to take on challenging work, deal with ambiguity and change as well as provide results that contribute to the larger vision of the organization.

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THE OD FOLLOWER’S ORATE P B Nageshwar

P B Nageshwar comes with more than 15 years of overall corporate experience. He currently heads HR for Oberoi Realty Limited, and works directly with dynamic and visionary owner Vikas Oberoi. He has done his post-graduation in Human Resources from XLRI, Jamshedpur and is a qualified company secretary.

Trust: Trust is a ‘function of time‘ with foundations of competence, integrity and loyalty. These employees are able to engender trust in people with whom they interact. Organizations are increasingly looking for employees who are entrepreneurial in their approach since they are an important resource for long-term growth and success.

a human resource newsletter

issue no 57 | april 2013

INTRAPRENEURSHIP - ENTREPRENEURSHIP AFASCINATINGCOMBO Careers take multiple twists and turns even though they may seem to be stable. Professionals master skills and enter a very predictable business zone. Predictability in business always breeds boredom. It is thus a good choice to move into the space of Intrapreneurship once one has mastered skills. Today’s middle-aged professional must look at this as a very serious career option.

FOUNDER’S COLUMN Niket Karajagi

Niket Karajagi is the Founder Director of Atyaasaa Consulting Private Limited, Pune which contributes to top corporate brands globally. He is an established international management consultant and an innovative human resource trainer with niche areas of expertise & contributions.

Niket is an authority on creativity & innovation,emotional intelligence and statistical methodologies, apart from his operations background in understanding of management processes.

The best way to do this is to look for an Entrepreneur who is willing to fund your dream. I am talking about passionate entrepreneurs who wish to expand their business but do not have the bandwidth to do so. An Entrepreneur and an Intrapreneur are thus great friends and companions who can build a huge business empire. An entrepreneur is willing to take all the risks while an Intrapreneur applies his creativity and skills acquired over the years. Intrapreneur- ship options may well be available in your own workspace.

Some essential qualities required to be a great Intrapreneur are as under: 1. Shared vision with the entrepreneur you work with 2. Strategic capability 3. Creative bent of mind 4. Critical thinking 5. Great people management skills 6. Captivating coaching skills 7. Control on operations 8. Financial skill-sets 9. Logical and analytical mind-set 10. Capability to convert a dream into reality The world has few entrepreneurs but we can surely create many Intrapreneurs. It is a journey full of fun and excitement as one can do what one believes in. You have the cushion of mentorship from an entrepreneur while you are your own boss. You are in command of the organization and have the free will to get results. It is an action oriented job and a well-paying one. Therefore, my suggestion is ‘go for it’. I have personally invested in Intrapreneurs. I can say as an entrepreneur that it has put me on a fast track as I can create start-ups and handover the running of my business to able Intrapreneurs. This is a great win-win combination for sure.

PSYCHOMETRIC PROFILING

A psychometric profiling tool is based on seven highly researched professional competencies. It aids in exploring your latent strengths and weaknesses and maps your competencies around your personality type. This is a standardized tool validated across multiple geographies and cultures.

*The views expressed in each of the article are solely those of the author.

“Entrepreneurship is one of the opportunities for discovering inner strengths” BEAN STATEMENT

Find the link to this tool here: http://psychometricprofiling.atyaasaa.com/

This is not a paid service. Your feedback on the tool will be highly appreciated and will help further improve this service.

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