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Intrapreneurship: Developing Corporate Entrepreneurship

Part 1: Definition, Need and Importance of Intrapreneurship VISHNU PRASAD - 150 PRANAV TODI -164 PINAKI DAS - 141

Intrapreneurship / Corporate Entrepreneurship
 Gifford Pinchot
“any of the dreamers who do….. Takes hands-on responsibilities for creating innovation of any kind within the organisation. The Intrapreneur may be creator or inventor but he is always the dreamer who figures out how to turn an idea into a profitable reality.”

Defining the concept
 Intrapreneurship / Corporate Entrepreneurship includes
generation, development and implementation of new ideas.

 An innovation can be a new product or service,
administration system or a new plan or program or creating new business in established companies.

 Intrapreneurship / Corporate Entrepreneurship is a process
whereby an individual or a group of individuals, in association with an existing organisation, creates a new organisation or instigates innovation within the organisation.

Need for Corporate Entrepreneurship
 Competitors

 Distrust in traditional method of corporate management
 Downsizing of major corporations  Improve efficiency & productivity  Losing people to entrepreneurship because
Entrepreneurship is on rise Venture Capital financing more new ventures

Reengineering Corporate thinking
4 Important steps for establishing new thinking

1. Set explicit goals - Mutually agreed by worker & management
2. Motivation - Management need to give freedom & encouragement 3. Positive reinforcement – Necessary because it helps Intrapreneurs
to realise rewards exist

4. Give individual responsibility – Have Confidence, Trust &
accountability on the worker

Importance of Intrapreneurship
To an individual
• It is rewarding (recognition, promotion, financial compensation) • Competition calls for creativity (to maintain your position) • To keep up with changes

To the organization • Increases revenues and profits • Improves the company’s image

Few Intraprenuers
Mr. Avinash W. Purandare
Vice President and Head Corporate Global Marketing and Strategy

 Prof Hemant Abhyankar
DIRECTOR Oct 1994

Ken Kutaragi

 Cheryl Pohlman

Alicia Ledlie

Intrapreneurship: Developing Corporate Entrepreneurship
Part 2: Entrepreneur vs Intrapreneur vs Manager Andrea Serafini Roll N E02

Definitions
 Entrepreneur
Entreprendre [undertake] a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

 Intrapreneur
Intra [within ]+ preneur a manager within a company who promotes innovative product development and marketing. These person are not driven by monetary gain but by a deep desire of personal achievement

 Manager
person responsible for controlling or administering all or part of a company or similar organization

Entrepreneur
Versus Manager
 Skill  Status
Versus Intrapreneur

 Level of dependence  Funding

 Risk Taking
 Reward  Innovation

 Position in the company

Risk-Independence Chart

Corporate Entrepreneurship
 Administrative
 Opportunistic  Imitative  Incubative

Intrapreneurship: Developing Corporate Entrepreneurship
Part 3: Developing Organization Culture for Intrapreneurship

Marius Becker Roll 172

 Intrapreneurship is the spirit of Entrepreneurship, within
the context of an existing organization

 People with Entrepreneur skills are required
 Proactivity  Responsibility  Innovation  Commitment  Take Risks

 An Environment of freedom and responsibility is required. Ideas
should be given a chance.

Freedom and Responsibility
 People are more satisfied with their
work when they are free to choose how to do their work

 Don’t pay attendance, pay for
work!

 People who are not responsible for
what their doing wont do it best

 Make them responsible

New Ideas
 Any idea can improve your business, aquire new markets or
develope new products

 A 10M $ idea of the waitress is still a 10M $ idea. You should
listen

 A good idea approval process and the ability to realize it is
required

 New ideas means new failures, they should be accepted.
Penaltys on failed ideas kills future ideas

Summarize
 Divide company into sections and sections into small
self-responsible teams

 Honor the leader of successful teams with more
responsibility and money

 Save extra budget for upcoming Ideas and let the
Inventor himself the project

Thank you !!!