This happened to be yet another insightful, inspirational and innovative evening organised by Harpal Dhatt, CEO of the Glow at Work in the Queens Tennis Club in London on 23rd May 2013.
Dr Tomas Chamorro-Premuzic, Professor of Business Psychology at the University College London (UCL), Vice President of Research & Innovation at Hogan Assessments, a visiting Professor at New York University, author of many books and scientific papers and a world authority in personality profiling and psychometric testing, was an invited speaker to deliver the Masterclass on the theme of ‘Identifying & Developing Entrepreneurial Potential at Work.’
At the onset of the event, the message came loud and clear: Entrepreneurship Matters! We were persuaded by Tomas’s excellent presentation skills that entrepreneurship is the major source of employment, growth and progress, as every successful organisation was once a new venture. His claim was that the best way to break into a business is to innovate by offering new products or services.
Tomas, also renowned for his successful consultancy work, posed some interesting questions for a debate: What drives entrepreneurial success? Are there any tools to quantify entrepreneurial talent? The mini-quiz followed on the line – how much environmental factors, chance or personal factors influence entrepreneurial capacity. This gave an opportunity to the participants to voice their views and to ask some intellectually stimulating questions.
Tomas successfully ‘planted the seed’ – bad leadership is a major cause of entrepreneurship as there is a lack of value for employees’ creativity or fostering innovation. The healthy debate opened up some new avenues of thinking about the concept of leadership in general and the process of disengagement which might force entrepreneurial talent out of an organisation.
Tomas also offered glimpses of the global outlook on the process of entrepreneurship by stating that Europe does not produce enough innovative companies. He then moved to passionately discuss the ins and outs of entrepreneurial talent, considered as the ability to create value and stimulate growth and progress via innovation. This is successfully achieved by shifting resources from low to high productivity areas in order to exploit opportunities. According to him, the DNA of entrepreneurial talent consists of creativity (generating ideas), opportunism (identifying gaps), proactivity (acting with drive) and vision (having meaningful mission).
The personality profile of talented entrepreneurs is based on openness – being curious and flexible, conscientiousness – being driven and persistent, extraverted – being outgoing, dominant and optimistic, agreeable – being warm and friendly and non anxious – being secure, stable and cool-headed. Research has shown that there is no correlation between IQ and entrepreneurship but there is with EQ.
The final part of this truly engaging evening due to Tomas’s charismatic presentation, was the introduction of his newly developed psychometrics tool – META (Measuring Entrepreneurial Potential – Talent and Abilities). We were pleased to find out that this tool can find its application on an individual, but also team level (based on similar values and complementary styles) in order to identify, manage and retain entrepreneurial talent. However, it can be applied in a broader context as well, by looking into how to foster an entrepreneurial culture. According to Tomas, this can be successfully achieved by boosting innovation, tolerating failure, promoting an opportunistic mind set and looking for vision.
His talk definitely stirred everyone’s thinking towards identifying and fostering entrepreneurship in order to out-perform competitors of organisations and provided food for thought by considering if there is a natural entrepreneur in ANY organisation.
As an added bonus to this truly exciting event, the participants had a chance to complete the Meta psychometric tool (http://www.metaprofiling.com/meta-profiling.aspx), designed to identify their creative and entrepreneurial potential.
While the Curtain went down for this memorable event, some of the participants continued the debate on this hot topic in the nearby pub ‘Curtain’s Up’.
Luckily, not very long left until the next Glow at Work event on the 20th June on ‘Sustaining Engagement at work’ with Emma Donaldson- Feilder http://www.meetup.com/Glow-at-Work-Masterclasses/events/115740382/
Interview 2: http://www.youtube.com/watch?v=dfd-gbZqiw0&feature=youtu.be
Speaker clip: http://www.youtube.com/watch?v=h6v8zr8_2ls&feature=youtu.be
Zorica Patel CPsychol, MSc, PGCHE, BSc (Hons), BA (Hons)
Chartered Occupational and Registered Coaching Psychologist
Senior Lecturer in the HRM Department, Westminster Business School