To implement change faster than their competitors and win more business, executives need to embrace intrapreneurship.
Today business is highly competitive, and markets change rapidly. The pace of change can only increase as AI is bringing bots and robots that will produce leaps in productivity across all industries. So businesses must renew their competitive advantage. One way to do this is constant innovation and one way of constant innovation is ‘intrapreneurship’.
What is an intrapreneur?
Intrapreneur = (Entrepreneur) – (Risk of losing all your money)
Most people understand what an entrepreneur is. One big risk for entrepreneurs is losing everything they have invested in their startup. In contrast, as an intrapreneur, even if your product fails, you get your salary. It is like walking a tightrope with a safety net.
The American Heritage Dictionary defines intrapreneur as: 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.
It is easier to understand what an intrapreneur is by looking at the differences to an entrepreneur.
It is useful to consider some examples of products developed by intrapreneurs as in Table Y. So, why cannot these successful companies Google, Sony, 3M and Amazon, simply develop these products in their normal business processes?
Esta historia es de la edición October 2018 de Indian Management.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición October 2018 de Indian Management.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Trust is a must
Trust a belief in the abilities, integrity, values, and character of any organisation is one of the most important management principles.
Listen To Your Customers
A good customer experience management strategy will not just help retain existing customers but also attract new ones.
The hand that feeds
Providing free meals to employees is an effective way to increase engagement and boost productivity.
Survival secrets
Thrive at the workplace with these simple adaptations.
Plan backwards
Pioneer in the venture capital and private equity fields and co-founder of four transformational private equity firms, Bryan C Cressey opines that we have been taught backwards in many important ways, people can work an entire career without seeing these roadblocks to their achievements, and if you recognise and bust these five myths, you will become far more successful.
For a sweet deal
Negotiation is a discovery process for both sides; better interactions will lead all parties to what they want.
Humanise. Optimise. Digitise
Engaging employees in critical to the survival of an organisation, since the future of business is (still) people.
Beyond the call of duty
A servant leadership model can serve the purpose best when dealing with a distributed workforce.
Workplace courage
Leaders need to build courage in order to enhance their self-reliance and contribution to the team.
Focused on reality
Are you a sales manager or a true sales leader? The difference, David Mattson, CEO, Sandler® and author, Scaling Sales Success: 16 Key Principles For Sales Leaders, maintains, comes down to whether you can see beyond five classic myths that we often tell ourselves about selling.
