Intrapreneurship is a method of operations management that involves developing an entrepreneurial culture within a company to stimulate employee autonomy and responsibility.
What Are the Benefits of Intrapreneurship?
Promoting intrapreneurship within companies helps with:
- Entering new markets
- Developing employee autonomy
- Stimulating innovation
- Stimulating company growth
offering greater opportunities for career development
- Stimulating employee commitment and creativity
What Are Some Examples of Companies That Practice Intrapreneurship?
Some examples of companies that practise intrapreneurship are:
What Skills Are Needed for Intrapreneurship?
The skills needed for intrapreneurship include:
- Identifying problems
- Being persuasive
- Having a knack for business
- Having an innovative spirit
How To Create a Culture of Intrapreneurship?
Companies that wish to create a culture of intrapreneurship in their organization can:
- Encourage employee creativity and autonomy
- Make risk-taking and failure acceptable
- Offer more training to employees
- Allow employees to go beyond the limits of their job description
- Reward innovative ideas
- Become an agile organization
- Define clear guidelines that limit potential obstacles to employee progress
What Is the Difference Between Intrapreneurship and Entrepreneurship?
Intrapreneurship involves carrying out a business project within an established company. The intrapreneur puts their ideas to good use within a company that does not belong to them. They are generally employees of the company.
Entrepreneurship refers to the activities involved in setting up or running a business. Entrepreneurs create and manage their own business. They own the company.