Intrapreneurship

Becoming an Entrepreneur on the Job

What keeps most people from becoming entrepreneurs?

Funding Manpower Strong backing Branding/Marketing Fear

What is your definition of an intrapreneur?

Intrapreneur
A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through asserti e risk taking and inno ation! "ntrapreneurs ha e entrepreneurial skills blended with managerial skills but operate within the confines of an organi#ation!

History of Intrapreneurship
$ord was coined in %&'( by )ifford and Eli#abeth *inchot Based on their concept of an intra+corporate entrepreneur School for "ntrapreneurs in Sweden in %&, .he American /eritage 0ictionary made the word mainstream by adding it in %&&1

Positive differences between entrepreneur vs intrapreneur

Funding
company/organi#ation often has capital to fund the pro2ect

Manpower
intrapreneurs do not ha e to worry about finding the talent to get tasks performed

Branding
intrapreneurs can use the branding of the company/organi#ation to get their ideas to take root

Quick Question
0o you know the difference between a intrapreneur and a intrepreneur3

Intrepreneur
4ne who sets up5 maintains and assumes the financial risks of an "nternet business enture not to be confused with intrapreneur or the more traditional entrepreneur! .hey are the new breed of "nternet Entrepreneurs!

Name some companies started by intrepreneurs?

)oogle 6ahoo MySpace Facebook 6ou.ube Second 7ife 7inked"n eBay

Characteristics
8esults dri en Ambitious 9reati e 4riginal Self 9onfident 8isk .olerant *ersistent "nfluencing /igh Energy Action oriented "nterpersonal "nno ati e

isdiagnosed Characteristics
Ambitious : o er #ealous 9reati e : does not follow guidelines *ersistent : pushy Self confident : arrogant "nno ati e : dreamer /igh energy : high strung 8isk .olerant : bends the rules / challenges the system

!efined as"
"ntrapreneurs are ;dreamers who do<5 those who take hands+on responsibility for creating inno ation of any kind within an organi#ation! Gifford Pinchot .he intrapreneur is an essential ingredient in e ery inno ation! Dr. William Souder

Why should organi#ations embrace intrapreneurs?

Innovation
.o create and bring into use profitable new products5 processes5 ser ices5 and ways of doing business!
9reation of new or alternati e products 4pening of a new market 9apture of new sources of supply

Intrapreneurial $ctivity
Spotting ways to impro e ser ice Sa e time5 money5 or make life easier =isuali#ing ariations of current products / ser ices 8eali#ing new communication a enues with customers Enhancing the >uality ?ew ways to get the 2ob done >uicker or smarter

How does %usiness benefit?

Firms create competiti e ad antages by disco ering new and better ways to compete in an industry and bringing them to market An enterprise that does not daily inno ate ine itably ages and declines E en in a successful business the disease of bureaucracy and complacency is dangerous

How do Intrapreneurs benefit?

Fle@ibility 7ess restrictions but supporti e en ironment 8ecognition .heir ideas are ehicles towards ad ancement "ncreased alue to organi#ation + increased *A69/E9A

Implementing the Intrapreneurship Culture

Encourage employees to be creati e and to look for new ways to impro e your current way of doing business )rant intrapreneurs something akin to ownership rights in the internal intraprises they create Encourage company wide in ol ement by insisting on truth and honesty in marketing and marketplace feedback

Implementing the Intrapreneurship Culture

.reat intrapreneurial teams as profit centers rather than as cost centers Allow team members a ariety of options in 2obs5 in inno ation efforts5 alliances5 and e@changes Encourage employees to de elop through training programs

Companies that get it

BM
*ost+"t ?otes

Apple
"pod

)oogle
4rkut )oogle ?ews

94?97CS"4? : .he onus of being "nno ati e5 risk oriented and proacti e within the ecosystem does not necessarily rest with the EntrepreneurD! Farsighted Entrepreneurs should in est in their /uman 8esources and con ert them into alue generating "ntrapreneurs and a oid taking on employees as competitors when they create their own entures!