The following are elements of entrepreneurial culture:
- People are empowerment focused
- Value creation through innovation and change
- Attention to the basics/detail
- Hands-on management
- Doing the right thing
- Freedom to grow and to fail without embarrassment
- Commitment and personal responsibility
- Emphasis on the future
NB: It is through the interaction of founding values, theories and new venture that organisational culture begins to take shape and perpetuate itself.
If long term values are held then the creation of culture by the entrepreneurial team may be a good predictor of the future of the firm.