Fostering “Intrapreneurship” – Leadership Louisville Part II

Over the years I’ve often heard people talk about how the corporate culture stymies creativity and new ideas, and how companies lose their most talented people in pursuit of more innovative opportunities. Well, in our region there are employers doing just the opposite.

The Kentucky Indiana Exchange (Kix) has long sought to showcase the great entrepreneurial spirit of our region, but what about the “intrapreneurial” spirit of our employers? Maybe it’s a concept that some of you are aware of, but it was unknown to me until a recent visit to Signature HealthCARE as a member of the 2013 class of Leadership Louisville.

Signature Healthcare When we arrived for our monthly gathering, we were given the opportunity to select one of several regional employers, and I chose Signature. I had heard so much about the company — the decision its leaders made to move the headquarters to the region; the work they were doing with the University of Louisville to foster innovation and business start-ups in the long-term care industry; and about their leader, CEO Joe Steier, a Louisville native who guided the company’s move to Kentucky.

We spent much of the morning with our host Joe Barimo, the VP of Corporate Learning. His passion for the company was quite apparent. We then visited with what seemed to be the entire senior leadership team, including Joe Steier. We had a terrific exchange, learning about the company, their move to Louisville and Signature’s three organizational pillars – Learning, Spirituality and Intrapreneurship. Learning and Spirituality were certainly two concepts with which I was familiar, but not “Intrapreneurship.”

It’s the idea of acting like an entrepreneur within a larger organization where employees are expected to be innovative, to take risk and pursue the development of innovative products or services within the company. This style of management allows the employees to feel as if they’re part of something bigger, as well as something they have a stake in. Traits like conviction, zeal and insight are encouraged. As a result, employees become more likely to try the kinds of approaches they might take if they were running their own business. The end result can be a breakthrough technology or a new and profitable product line.

To some, particularly in a region where individuals and imaginations are thriving, it might seem like a “no-brainer.” For me, it was another great Leadership Louisville experience.

I can hardly wait to see what’s next. Till then…

Beth Avey is the Executive Director of the Kentucky Indiana Exchange