The words entrepreneur and intrapreneur have acquired special significance in the content of economic growth in a rapidly changing

industrial climate both in developed and developing countries. Entrepreneur is a key person who envisages new opportunities, new techniques, new lines of production, new products and coordinates all other activities. H likes to experiment with new ideas and thus face uncertainty. He works for himself and for profits. On the other hand, intrapreneurs are entrepreneurs who catch hold of a new idea for product service or process and work to bring this idea to fruition within the framework of the organisation. Intrapreneurs with their innovations and dedicated effort are perceived as valuable asset by the organisation, irspiring others. They serve as champions to others in that organisations. In America a number of business executives have left their jobs and started their own enterprises because they were not given chance to test and implement their innovative ideas. Later they achieved phenomenal success in their new venture and posed a threat to the companies they left. These executives turned entrepreneurs are known as intrapreneur. ³An Entrepreneur is someone who has the skills, passion and financial backing to create wealth from new business opportunities and is willing to take full responsibility for its success or failure.´ ³An Intrapreneur is someone who manages that business with entrepreneurial flare in line with the expectations of the shareholders.´ Immediately we can start to see a difference. The Entrepreneur is typically a visionary who spots an opportunity in the marketplace and has the passion, guile and contact base to set the wheels in motion. The Intrapreneur has passion and drive but also has the operational skills of running the ³clockwork´ of the business to enable a good idea to be turned into commercial reality. He is the ³inside entrepreneur´. Both ³preneurs´ set themselves aside from employees in a number of ways but perhaps the most significant is in their relationship with the business. It¶s a question of committment over involvement. Employees are involved, ³preneurs´ are committed. A little bit like the egg and bacon breakfast, the chicken is involved but the pig is committed. entrepreneur is starting a business while intraprenuer is developing a new product in an already existing business. An entrepreneur takes substantial risk in being the owner and operator of a business with expectations of financial profit and other rewards that the business may generate. On the contrary, an intrapreneur is an individual employed by an organization for remuneration, which is based on the financial success of the unit he is responsible for. Intrapreneurs share the same traits as entrepreneurs such as conviction, zeal and insight. As the intrapreneur continues to expresses his ideas vigorously, it will reveal the gap between the philosophy of the organization and the employee. If the organization supports him in pursuing his ideas, he succeeds. If not, he is likely to leave the organization and set up his own business.

Entrepreneurship vs Intrapreneurship

it is ultimately the organization that benefits. ridicules. Another feature that differentiates an intrapreneur from an entrepreneur is that inside an organization. These are the people who are labeled as unreasonable as they refuse to accept things around them. These are entrepreneurs who are prepared to defy conventional wisdom as they dream of things that are unthinkable by others. One are those who are comfortable with everything surrounding them and adapt to themselves according to the world. an intrapreneur may have to ask for the permission of the management to go for a certain design or product. Now think of an organization and people with such rare attributes inside it. In fact. They have the eyes and vision to grab opportunities where none exist. Let us brush up with the concept of entrepreneurship to better understand Intrapreneurship. However. Entrepreneur is never rattled by mistakes and failures and takes them in his stride. there are differences that will be highlighted in this article. it is becoming all the more important for organizations to encourage more of intrapreneurs within the organization. Intrapreneurship vs Entrepreneurship ‡ Entrepreneurs can be found anywhere whereas intrapreneurs are found. as far as common people are concerned. George Bernard Shaw once said that there are only two types of people in this world. What is required in organizations that encourage Intrapreneurship is to inject mutual respect for each other.Most of us are aware of the concept of entrepreneurship and how it has helped shape our future and produced things that were once considered as impossible or were ridiculed at when tried initially. The major difference between an entrepreneur and intrapreneur is that where an entrepreneur has a free will and acts upon his whims. . Intrapreneur is one up on an entrepreneur at least on one count and that is ready availability of resources that are otherwise difficult for an entrepreneur to arrange. an intrapreneur may result in rivalries and hurt egos because of his extraordinary work. and limited resources. rather encouraged within the confines of an organization ‡ While entrepreneurs face hurdles in the form of ridicule(make fun of by others) and setbacks from the society in general intrapreneurs have to face rivalry(competetions) within the organization they work. he takes it as an investment in education. The word Intrapreneurship has been coined for such entrepreneurs within the confines of an organization. Entrepreneurs are motivated by their dreams and conjure up visions that they make possible despite all hurdles. something he learns from to succeed the next time. Though having been derived from the concept of entrepreneurship. It is the 2nd category of people that we are interested in. In a world full of cutthroat competition where products and services change with the blink of your eyes. This is a must as it has become a question of survival for organizations and to beat the competition or remain one up on them. there is a new term called Intrapreneurship doing rounds in corporate circles these days and is gaining currency because of the benefits associated with the concept. Intrapreneurship bears much resemblance to it. As they get a free hand to implement their innovative ideas.

.‡ Entrepreneurs find it difficult to arrange resources while they are readily available to intrapreneurs.

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