5 Reasons Why Intrapreneurship is Important

Intrapreneurship is entrepreneurship in the corporate world.

There are lots of reasons why Intrapreneurship is important. Here are 5 reasons
why.
1. Growth: During the economic downturn most companies stopped investing in
the future. Now they are sitting on piles of cash. They know they need to grow,
they just arent sure how. Intrapreneurship answers the question of HOW!
The goal of Intrapreneurship is to create the entrepreneurial mindset and
infrastructure needed to support growth. It takes a systems view of growth. It is a
framework for transformation.
Intrapreneurship helps organizations generate new business growth.
2. Innovation: Innovation is the key element in providing aggressive top line
growth. But doing one or two innovation initiatives a year will not support or sustain
innovation. Organizations need to be innovating all the time. Failure rates for
innovation are still high, 50% to 90%.
Innovation alone is not enough. Organizations need to set the context for
innovation; the right people, the right processes and the right environment.
Innovation and intrapreneurship are entwined, they are tied together. You need both
to be successful.
Intrapreneurship provides an environment to support and sustain innovation over
time.
3. Leadership: Research has identified leadership as the key predictor of
innovation success. Yet a majority of CEOs to not feel like they have the capabilities
inside their organizations to achieve their growth agenda. The skills and capabilities
that propelled most executives to the top in the past are not the skills required to
build new growth businesses. Only 4% of leaders are intrapreneurial.
Intrapreneurship requires a new set of competencies and behaviors. Intrapreneurial
leaders think and act differently, they have different motivations and aspirations,
and they prefer working in different work environments. It is this differentiation that
makes them the perfect candidate to lead new growth initiatives.
Intrapreneurship is the one of the best ways to attract and retain your
most entrepreneurial leaders.
4. Change: Change is one of the least understood and under developed
management disciplines. Most studies report a 60% 70% failure rate when it
comes to change initiatives. Risk adverse cultures and resistance to change impede
an organizations ability to grow.
Intrapreneurial leaders are change agents. They blaze new trails. They become the
very change they wish to see. Not just driving change, but modeling change so
others can change as well.
Intrapreneurship enables organizations to effectively accelerate and manage
change.
5. Engagement: Gallup Research estimates that disengaged employees cost US
organizations over $450 billion in lost productivity. In 2012, only 30% of American
workers were engaged and committed to their workplace. Lost productivity
translates to slow or no growth.
Intrapreneurship provides a platform to engage employees in work that is
challenging and meaningful. Intrapreneurs are highly engaged in their work. Their
passion and determination inspire others to get involved and try new things. As
they grow, the organization grows.
Intrapreneurship helps employees stretch and grow while keeping them engaged.
Intrapreneurship has become a critical imperative for all organizations and a
survival strategy for others. Organizations that have embraced Intrapreneurship
have achieved higher financial returns, increased productivity, more innovation and
higher levels of employee engagement.
Isnt it time you took a closer look at Intrapreneurship and what it can mean for your
organization.
Importance of Entrepreneurship in Business Growth
Gone are the days when only landlords and monarchs used to own large companies.
We are in an era when young entrepreneurs are redefining industries. Richard
Branson, Bill Gates, Steve Jobs, Mark Zuckerberg, Warren Buffett, Dhiru Bhai
Ambani, Larry Page, Henry Ford and we can keep counting to get a comprehensive
list of global entrepreneurs.
Entrepreneurship is one of the most important traits these days. More so for
companies. Everyone wants to have a bigger share of that profit pie.
This leads us to a question. Is Entrepreneurship really that important?
Lets look at it in the business context while touching on its impact in a broader
sense.
I dont think importance of entrepreneurship can be questioned today. With the
current challenges in almost every economy, entrepreneurship is one of the most
fundamental ability of the managers. It helps in gaining competitive advantage.
Intrapreneurship is the term that is now often used by companies for entrepreneurs
in-house.
Here is an interesting article discussing advantages of entrepreneurship or
intrapreneurship.
Entrepreneurship for business growth
Entrepreneurship enables companies to go with the flow of the dynamic economy
especially in managing risk, innovation and creativity, uncertainty as well as growth.
In a market driven economy, entrepreneurs are now considered as assets of the
company and they must be motivated, cultivated as well as remunerated as much
as possible.
Here is a quick list of benefits that companies have by nurturing entrepreneurship:
1. Increases agility of firm
2. Increases innovation capital of the firm
3. Strategies emerge from all sides and dependence on top management is
reduced.
4. New ideas emerge in-house and can be incorporated without spillage of plans
to competitors.
5. Increasing confidence and outlook of the company
There are endless other subtle benefits to business and the economy overall by
fostering entrepreneurship.
Related article 5 reasons why entrepreneurs improve economy
Entrepreneurs can change our behaviors at workplaces. Through successful
innovation, they further improve our standard of living. In other words, they could
make a society prosperous.
Are you still wondering why entrepreneurship is significant in the business growth?
One of my earlier posts discussed the essence of entrepreneurship through a story.
A greater research is being carried out to evaluate Indicators of entrepreneurial
determinants
If you are still with me and want to explore the importance of entrepreneurship
further, let me take a more holistic perspective. I will discuss the importance of
entrepreneurship on society, business, personality and the Economy.

Here are some reasons for you:

Importance of Entrepreneurship as an agent of social change

Entrepreneurship is an effective way of introducing new and unique services and

products.
It further assists us to achieve freedom through lessening the dependence on
obsolete systems and technologies. This eventually leads to an improved quality,
economic freedom and greater morale.
Social entrepreneurship or intrapreneurship is gaining in importance these days.
Companies are more concerned about corporate social responsibilities. Ethics,
community development schemes and a living for purpose is now instilled in most
professional trainings and education.
We must credit this phenomenon to entrepreneurship. This is set to bring harmony
in society and help in a global prosperity.
Related Video by Cranfield business school explaining social intrapreneurship.

Importance of Entrepreneurship in developing New Businesses globally

Think about smart apps and smartphones, which is leading innovation and creative
practices all over the world. Rich countries or people are not just the only ones who
can avail of smartphones now a days.
Once Apple developed iPhone, emerging economies like Korea and China
bombarded the smart phone industry with fresh innovations. Developed companies
are expanding towards emerging economies who are learning from the
multinational companies.
Entrepreneurs then use the intellectual knowledge to spin-off new opportunities.
Thus new businesses emerges globally.
Indian IT industry is an example about how frugal innovation can lead to big success
stories.
Furthermore, technological globalization simply implies that the entrepreneurs in
less developed countries could easily get the chance to get access to high-tech
gadgets and devices.
Through the creative ideas of entrepreneurs fresh jobs are created which makes a
big impact on the entire economy.
Companies from associated industries such as network maintenance, call center
operation as well as hardware providers are now growing.
Training and education institutes are nourishing new IT employees, which are
providing better and high paying jobs.
Likewise, efforts on future developments, most particularly in underdeveloped
countries, do need well-established logistic support, qualified workforce as well as
capital investment.
Entrepreneurs let benefits pass along on the wide spectrum of the economy right
from construction workers to highly skilled programmers.

Entrepreneurship contributes to the development of community

All of us are aware of NGO. Most of them are funded by entrepreneurs. Warren
Buffett, Bill Gates, Mark Zuckerberg, Azim Premji, Ratan Tata and the list continues
endlessly.
Lots of people believe that the world today is going astray. On the contrary, I feel we
are heading towards a world of harmony and a greater coordination.
Global warming and Terrorism are opportunities to get good people on the same
boat. Entrepreneurship has come to the rescue.
Bill Gates, one of the most sought-after entrepreneurs today, makes use of his
money so he could fund charity works in the different sectors of the government. It
is one of the characteristics of an entrepreneur, which makes other business
executives motivated.
Entrepreneurship helps in augmenting the national income and makes sure of a
proper distribution of the income to the society. Entrepreneurship is not solely based
on profit motive. It is a state of mind which seeks self-satisfaction through better
and bigger causes.
Literally speaking, once you get involved in an entrepreneurial venture, you are
given a responsibility. Responsibility to take care of your workforce, stakeholders
and the larger community.
If you are an entrepreneur and have not yet started to contribute to the society then
its time to get socially responsible. While it is satisfying, it is also readily used as a
reputation management tool.
In addition to this, theres a cascading effect. Entrepreneurship generates higher
income and increased employment, leading to a higher national income and tax
revenues. Such revenues are used by the government for social and humanitarian
causes.
The Advantages of Entrepreneurship or Intrapreneurship
Entrepreneurs develop business ideas and test them in a business venture, and
intrapreneurs produce innovations for employers. Entrepreneurship and
intrapreneurship provide similar advantages; without them, society wouldn't have
as many services and physical comforts as it enjoys in the 21st century. Most
importantly, entrepreneurs and intrapreneurs benefit their organizations.
Motivation
The prospect of a new business venture, albeit a startup of one entrepreneur or a
venture inside a company, motivates people to achieve. An organization should
encourage employees to innovate by providing the right working environment.
Some conditions that foster innovation are encouraging new ideas, providing access
to resources, supporting trial and error and failure, and multi-disciplinary teamwork.
Stability
In a firm that encourages innovation, or ways to improve operations and products
and create new products, the owners and employees enjoy economic stability. This
company adapts to changes in the market to stay competitive and therefore has a
better chance for survival. Stakeholders, although not innovators themselves, share
in the economic stability provided by innovation. Without new business ideas, a
company might lose its relevance in the market, which can lead to scaling down
operations or going out of business.
Tapping New Markets
Entrepreneurs and intrapreneurs find ways to tap new markets. Consider the person
or group that develops a new market in an emerging economy. In this kind of
economy, thousands or millions of people can become customers if the company
emerges to meet their needs. When the new business venture grows, employment
increases and other businesses crop up to provide services to workers of that
business venture. Therefore, the emergence of a new market provides fuel for
overall growth.
Sharing Resources
Intrapreneurs need access to upper management to share their ideas.
Entrepreneurs can try out their ideas directly. Consider the business owner who
starts a printing business. He orders printers, toner and copy paper from other
providers, negotiating deals to manage his costs. He also provides a valuable
service to customers. The printing business becomes part of a supply chain.
Entrepreneurs (and intrapreneurs) brainstorm how to maximize relationships in the
supply chain with and between suppliers, competitors and consumers.
Intrapreneurship is the act of behaving like an entrepreneur while working within
a large organization. Intrapreneurship is known as the practice of a corporate
management style that integrates risk-taking and innovation approaches, as well as
the reward and motivational techniques, that are more traditionally thought of as
being the province of entrepreneurship
ANG KAHALAGAHAN NG ENTREPRENEURSHIP SA EKONOMIYA AT LIPUNAN
ANG KAHALAGAHAN NG ENTREPRENEURSHIP SA EKONOMIYA AT
LIPUNAN ;))
Mga ginaganapang mahahalagang papel ng entrepreneur sa ekonomiya
ENTREPRENEURSHIP
tumutukoy sa kakayahan ng isang indibidwal na mabatid ang mga kalakal at
serbisyo na kailangan ng tao at maihatid ang mga ito sa tamang panahon, tamang
lugar, at tamang madla at maibenta sa tamang halaga.
May ugnayan ang pamahalaan at entrepreneurship. Maaaring makapag bigay ang
pamahalaan ng insentibo at kapaligiran na kaaya-aya para sa pagnenegosyo.
Kaya nararapat lamang na isulong ng pamahalaan ang kagalingan ng mga
indibidwal upang maiangat ang antas ng ekonomiya! :))
ito ay ang

ENTREPRENEUR
1.) Ang mga entrepreneur ay nakakalikha ng mga bagong hanapbuhay.
2.) Ang mga entrepreneur ang nagpapakilala ng mga bagong produkto sa pamilihan
at kung gayon ay may pananagutan kung ang negosyo ay bumagsak dahil hindi
tinangkilik ang produkto.
3.) Ang mga entrepreneur ay nakakahanap ng mga makabagong paraan na
magpahusay sa mga kasanayan.
4.) Ang mga entrepreneur ay makapag hahatid ng bagong teknolohiya, industriya,
at produkto sa pamilihan.
5.) Ang entrepreneur ang nangunguna upang pagsamahin ang mga salik ng
produksyon tulad ng lupa, paggawa, at puhunan upang makalikha ng produkto at
serbisyo na kailangan sa ekonomiya ng bansa.
ENTREPRENEUR
Hango sa salitang french na
ENTREPRENDE
na nangangahulugang
ISAGAWA
.
Ito ay isang indibidwal na nag aayos nangangasiwa at nakikipag sapalaran sa isang
negosyo

sa produksyon may isang tao na mahusay na pinag uugnay ang

lupa , paggawa , at kapital
upang makalikha ng produkto at serbisyo.
Rising populasyong ay isang internasyonal na kababalaghan at matibay na pagtaas
sa populasyon ay nakasaksi sa kamakailan-lamang na taon. Growing populasyon ay
may na humantong sa kakulangan ng mga gamit-yaman at mga tao ang buhay ay
naapektuhan sa isang malaking paraan. Ang paumanhin estado ng pamumuhay na
kondisyon ng mga tao - lalo na ng mga nakatira sa ikatlong mundo bansa na
malinaw na nagpapahiwatig sa mapanganib na kahihinatnan ng populasyong
paglago.