‘Intrapreneurs’ can help companies grow
Participants from various companies attending a Local Business Development Forum hosted by AsiaIncForum. BT/Koo Jin Shen
Dr Peter Ting, chief co-creation strategist at Strategic Co-Creation Group, Malaysia. BT/Koo Jin Shen
Koo Jin Shen
BANDAR SERI BEGAWAN
Friday, August 14, 2015
COMPANIES looking to take the next step in their businesses can look to grow subsidiaries from their in-house staff to retain strong talent and grow the enterprise.
“Not everyone starts as an entrepreneur. But many people do have the desire, that dream to start a business on their own,” said Dr Peter Ting, chief co-creation strategist at the Strategic Co-Creation Group, a Malaysian consultancy group.
Ting said company executives need to encourage employees who have entrepreneurial aspirations. Company executives can opt to make that person his or her own boss, with the parent company giving mentorship and guidance.
“Let them head a business division or a company that is still under your holding group(and) share profit. They will make money for you, and they will also be making money for themselves,” he said.
He said these “intrapreneurs” are something company executives should look at especially when they need to grow a company that has reached its plateu level.
The company subsidiary will have the support system the primary holding company has already built. This will give the subsidiary a competitive advantage and potentially a new avenue for the company as a whole to grow.
“There is this saying: ‘If you want to go fast, go alone. If you want to go far, bring others along.’ You have to build leaders, you have to be able to attract talent and then keep that talent and know how to grow them if you want to go to the next level as a business,” he said.
Ting was briefly in Brunei to coach selected businesses in a Local Business Development Forum hosted by AsiaIncForum at Radisson Hotel. The two-day forum ended yesterday.
The Brunei Times