Intrapreneruship

Intra-Corporate Entrepreneur.

Intrapreneur
A

person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation. Intrapreneurs have entrepreneurial skills blended with managerial skills but operate within the confines of an organization.

Defined as


Intrapreneurs are entrepreneurs who stay home, managers who catch hold of new idea for product, service or process & work to bring their vision to fruition within the framework of a large organization.

Any of

the Dreamers who do. Those who take hands-on responsibility for creating innovation of any kind within an Organisation.

Individuals who believe strongly in their own talents, frequently desire to create something of their own. They want responsibility & have a strong need for individual expression & more freedom in their present ORG. structure No freedom frustration at work & become less productive leave ORG to achieve selfactualization elsewhere

Causes for interest in Intrapreneurship

y

Intrapreneurship increased due to Hyper competition. Individual who believe strongly in their own talents frequently desire to create something of their own.

How does Business benefit?

y Firms

create competitive advantages by discovering new and better ways to compete in an industry. Innovations gives new life to the Business

y Frequent

y Achieve y Become

goals more faster

business leader instead of being follower of the competitors

How do Intrapreneurs benefit?

y Flexibility y Less

restrictions but supportive environment

y Recognition y Their

ideas are vehicles towards advancement value to organization

y Increased

Implementing the Intrapreneurship Culture

y Encourage

employees to be creative y New Ideas must been encouraged, supported & experimented. y Secure commitment to intrapreneurship in the Org. by top management. y Experimentation- trial & error must be encouraged. y Ideas & general areas supported by top management should be identify. y Inhibiting creative problem solving y Money & human resources must be available on the line

Implementing the Intrapreneurship Culture

y y y y y y

Organisation needs to use more technology to make itself more flexible. Must have to learn to be more proactive with fewer resources Has to establish strong support culture Reward system has to develop. A multi- discipline team-wok approach need to be encouraged. Intraprenur should free to alter plan to achieve success as he sees it.

Implementing the Intrapreneurship Culture

y Treat

intrapreneurial teams as profit centers rather than as cost center y Allow team members a variety of options in jobs, in innovation efforts, alliances, and exchanges y Encourage employees to develop through training programs. y More fair evaluation system has to form.

Intraprenural Qulaities
y y y y y

Intraprenurs are visionary leaders. They posses creativity & understand the internal & external environment. They encourage teamwork They always uses multi disciplined approach. Always encourage open discussion.

Companies that get it

y 3M

Post-It Notes
y Apple

Ipod
y Google

Orkut Google News

3M
y Formerly known as the Minnesota Mining and

Manufacturing Company, is an American multinational conglomerate corporation based in Maplewood, Minnesota, a suburb of St. Paul.
y

With over 76,000 employees, they produce over 55,000 products, including: adhesives, abrasives, laminates, passive fire protection, dental products, electronic materials, medical products electronic circuits and optical films.

Example:Example:- (Post it Notes)

y y

y y

3M scientist Spencer Silver invented a not so sticky adhesive in 1968. Spencer shared his idea through seminars in which he shared the features (and benefits) of this semi-adhesive to fellow 3M employees. But no one really caught the vision of his product for five long years. Finally, a co-worker, Art Frey, recognized the need for Spencer's idea!

CONTD..
y

After attempting various methods, he decided he'd try using some non-permanent adhesive that was available at his workplace. By placing this adhesive on the back of his markers, he found he could keep them secured in place and then easily peel them off when he was done.

Contd..
y

The man took his new discovery to the management at 3M, a company that encourages employees to spend no less than 15 percent of their time at work developing their own ideas and projects. With the company's support, the resourceful man researched and developed a new product. Twenty-five years later, Post-It Notes continue to be one of 3M's top-grossing products.

Conclusion

You don't have to own a large corporation to foster intrapreneurship. All you need is the ability to encourage employees to develop new ideas, and then give them the time, space and resources needed to turn those ideas into reality.