When most people think of business the term “entrepreneurship” comes to mind but what is becoming an increasingly large driving force behind innovative companies today, is the introduction of intrapreneurship.
So what is intrapreneurship exactly?
Essentially this is a system that allows an employee to act like an entrepreneur within a company or other organization. With this new system, employees have fewer restrictions and are given the freedom to hone creative-thinking and proactive decision-making.
Organizations and corporations that integrate intrapreneurship into their framework, make the most of individuals within the organization who demonstrate the same drive as entrepreneurs such as being self-motivated, proactive, and action-oriented.
Despite these similarities, intrapreneurship doesn’t just mean giving employees full reign over making executive decisions in every regard. Rather it utilizes key concepts found in entrepreneurship to drive innovation, growth, and success in strategic ways. Read on to learn more about the value and differences between intrapreneurship and entrepreneurship.
From Ron Flavin:
Integrating a structured intrapreneurship program into your organizational culture and framework can be a great strategy for keeping your company relevant and an industry leader in these rapidly changing times.
How many formerly household corporate and brand names have disappeared because they failed to keep up with changing consumer preferences or market demands?
The list is long—too long for this newsletter.
Companies, governmental and even non-governmental organizations (NGOs) can form teams of “intrapreneurs” to come up with new ideas, new concepts and ways to stay ahead of the competition.
This responsibility should not solely rest on the shoulders of company leaders. I recommend that at least once a year, companies hold structured intrapreneurship retreats to facilitate the development of new ideas, concepts, products, services, markets, and more.
Intrapreneurship teams typically have complete freedom to develop their ideas. The ‘best’ ideas are then generally given money and other resources to test their concepts in the real world.
Interested in scheduling an intrapreneurship retreat at your organization? I have access to some of the world’s most brilliant minds in the world of intrapreneurship. Contact me today and let’s talk!
For many large corporations today, thriving in their respective industries is a herculean task because of the continuously rising amount of competition found in each market. Intrapreneurship is one of the groundbreaking strategies that many successful companies are using today to drive innovation.
Remaining fluid in today’s technologically fast-paced world requires a company that can be agile, adjustable, and dynamic, taking on new challenges as they arise and finding real solutions within their organization, not outside of it. Enter intrapreneurship – the idea that it’s possible to be an entrepreneur from within a larger company, like a corporation.
Important Industry Happenings
- Why You Should Become an “Intrapreneur” (via Harvard Business Review)
- Unhappy at Work? Be an Intrapreneur (via Wired)
- Intrapreneurship: Driving Innovation From Within (via The Economist)