Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company

Culture

Organizational culture refers to the ideas, values, and beliefs shared by an organization regarding its opportunities, problems, practices, and goals. Culture is a fundamental part of an organization’s commitment to excellence as well as being a determinant of employee behavior and commitment. A shared organizational vision is an important aspect of culture as it can overcome potential boundaries between the existing organization and venture by creating a common language and mutual understanding. A shared language is vital for effective communication and knowledge exchange. A shared vision can help recognize the value and knowledge within the organization. At 3M, there is an unwritten guideline that researchers can spend 15 percent of ...