Business owners have been encouraged to take risks in order to propel their firm to international success.
Robert Bolton, who co-leads the global HR centre of excellence at KPMG, has claimed that those who encourage innovation within their business without punishing honest failure will be the most likely to excel in global markets.
For franchise owners or those looking to start a franchise, this could mean putting their own unique stamp on a role, while still following the franchisor’s guidelines.
Bolton has published a report on kpmg.com stating why he believed that HR staff could play a key role in building a culture of innovation across a business. The report urged businesses to look past their research and development budget and collaborate with external networks when looking for new ideas.
Speaking to hrmagazine.co.uk, he explained: “HR teams are fortunate to be responsible for many of the levers required to bring about the transformation needed if innovation is more built in to business than bolted on.
“The organisations that are most likely to prevail are those where entrepreneurialism and risk taking is recognised and celebrated by leaders and where honest failure is viewed as a learning experience.”