November 22, 2019
Forty percent of workers already consider themselves entrepreneurs according to The Myers-Briggs Company research report, Type and entrepreneurship, which investigates the relationship between personality and entrepreneurship in the workplace. The research suggests that entrepreneurial businesses perform better financially, and thus, creating a work environment where employees of all personality types can embrace their entrepreneurial qualities is beneficial to businesses.
The report claims that people of any personality type can be successful entrepreneurs, and that knowing the unique strengths and blind spots of their individual type gives a real advantage to prospective entrepreneurs. The report also revealed that 32 percent of workers surveyed would consider setting up their own business, and only 13 percent had not considered it at all. There is clearly an appetite for entrepreneurial endeavours within businesses, and organisations can take advantage of this to enhance productivity and innovation, in order to compete on a global scale.
For example, some of the characteristics of those with a preference for Extraversion and Intuition include curiosity, and a willingness to try new approaches and take risks, while they may lack attention to detail. In contrast, those with a preference for Introversion and Thinking bring a logical, objective focus to problems, but may need to avoid being too internally focused.
Commenting on the findings, John Hackston, Head of Thought Leadership at The Myers-Briggs Company, said: “A culture of entrepreneurship goes beyond just starting your own business, and is in fact a vital part of ensuring organisations remain innovative. Entrepreneurs drive economic growth, and in a time of stagnating UK productivity, business innovation is more crucial than ever. Two key factors of entrepreneurialism are creativity and risk-taking, and by enabling employees to embrace these entrepreneurial tendencies within their own personalities, organisations can build a culture of innovation and productivity.”
Hackston continued, “Entrepreneurialism or ‘start up culture’ is not just reserved for lone maverick entrepreneurs and disruptors – large organisations can benefit from a self-aware workforce, one that is able to leverage their own individual entrepreneurial strengths. As businesses grow in size and structure, it can be difficult to maintain a culture of risk taking and creativity – but it is not impossible. By understanding the unique skills each employee can bring to the table and how to maximise them, organisations can foster a culture of entrepreneurship, and in turn have a positive impact on the business bottom line.”
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