When one think of an entrepreneurial company one thinks of your typical small company with a big idea that just needs funding. However, recently some big companies have set out to change this image. One of the more notable companies achieving this is Google. They have adopted a philosophy that is dedicated to innovation and creativity that is part of the core company culture. While Google is no longer a small entrepreneurial company they still maintain the entrepreneurial spirit through their 20 percent time rule.
The 20% time rule is employees spend 80% of their time working on company projects and then 20% of their time is dedicated to employee’s pet projects. Not only are employees permitted to work on their own projects they are actually encouraged. In recent years the 20% time has yielded Google with several important innovations including Google mail, Google talk, Google sky, Google news and many more. All of these innovations at Google have led to a substantial amount of wealth creation in a very short period of time.
You could argue that Google technically isn’t an entrepreneurial company because these innovations pose very little risk to the company. But in reality some of these innovative projects require large amounts of Google’s resources and pose a risk to the company if they fail.
For more information on Google’s 20% time check out this article