In the second annual Super Entrepreneurs programme, which explores the role of entrepreneurship in blue chip organisations, the media and social media category emerges as the most entrepreneurial sector in the UK.
Of the 20 key consumer sectors analysed, only companies within the media category managed to secure, on average, a Super Entrepreneur rating of A – the top rating being AAA and lowest rating CCC – with all other categories showing an average rating for their constituents of BBB or lower.
This result follows a process, undertaken independently by The Centre for Brand Analysis on behalf of the MAA, that analysed 200 medium-large companies’ entrepreneurial outlook and output based on the findings of an expert panel of 23.
The media category is led by Facebook UK, one of only six businesses, among the 200 companies analysed, to secure an AA rating. Guardian News and Media, Virgin Media, and Twitter UK, all of which are effectively in the top 20 by combined entrepreneurial output and outlook score, follow the social media giant in the category rankings.
BBC and Sky also both secure AA ratings, placing them in the top 30 most entrepreneurial companies in the UK. No media company secures lower than a BBB rating, with News UK & Ireland in absolute terms the lowest rated within the sector but still well with the top 50% of companies analysed.
The relative consistency of the companies in the category explains why the sector outperforms all others. Media companies, however, do not actually top the table for either entrepreneurial output or outlook, although in “Entrepreneurial Outlook” Facebook UK places fourth and for “Entrepreneurial Output” it ranks fifth – leading the media category in both areas.
Our second most entrepreneurial category is the Information and Search sector, led by Google UK, also one of the six companies to secure an AA rating. “Technology General” is the third most entrepreneurial category, led by Apple Computer UK, another AA rated business. Conversely, the Oil and Gas, Utilities and Household Goods categories are the worst performing sectors
Explaining the findings, panellists say that factors such as media company capacity for innovation are hallmarks of their entrepreneurialism. Andy Rubin, the chairman of Pentland Brands, says: “In an increasingly global, digital, mobile world entrepreneurship is more important than ever. Risk taking and innovation are essential to stay relevant and keep ahead of the disruptors.
And the clear skillset and entrepreneurial outlook of the leadership of media and tech companies also plays an important role. Karen Bill, the chair and director of Enterprise Educators UK, says: “Clearly many of these organisations have founders or CEOs with that strong technical expertise and knowledge which is pretty vital. Take Mark Zuckerberg as a computer programmer, Steve Jobs as the original disruptor of Apple, and so clearly those entrepreneurial skills are important.”
William Kendall, owner of Cawston Press and a past investor in both Covent Garden Soup Company and Green & Black’s, picks out the BBC for the quality it produces. He believes that this could be down to an outlook that is less short-term and profit-driven than many companies. He says: “It [the BBC] still turns out good products and believes in itself. It is not just run as far as I can see by a senior cabal who concentrate only on their short term in office and how to enrich themselves during it.”
Strong focus on innovation, clear and knowledgeable leadership and a razor-sharp focus on quality are all hallmarks of the entrepreneurial media culture that should inspire the wider business world and marketing experts in particular.
Tim Bourne is chairman of the MAA/joint chair of SuperEntrepreneur and joint CEO of Exposure
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