Intrapreneurship: Advantages, Examples, and Models
Learn about intrapreneurship, a concept of utilizing entrepreneurial skills within existing firms to foster innovation. Explore its benefits, examples such as Google's 20% time policy, various models of corporate entrepreneurship, and the skills required to succeed as an intrapreneur.
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ENTREPRENEURSHIP Lecture No: 25 Resource Person: Malik Jawad Saboor Assistant Professor Department of Management Sciences COMSATS University Islamabad.
OBJECTIVES Define Intrapreneurs Types of Corporate Entrepreneurship Compensation of Intrapreneurs Barriers to Intrapreneurship Freedom Factors attached to Intrapreneurship Advantages/ Disadvantages of Intrapreneurship How Companies can support Intrapreneurs Ten Commandments of Intrapreneurship
Definition; Entrepreneurship within an existing business. The development within a corporation of internal markets, Or autonomous or semi-autonomous business units, that produce products, services, or technologies in a unique way. An opportunity for corporate managers to take initiative & try new ideas. An internal corporate venture (ICV)
Intrapreneurship Intrapreneurship is based on the concept of using entrepreneurial skills within an established firm by encouraging innovation by employees. These employees can use start-up business techniques within a firm (large, medium, or small) to create new products or services from existing products or services, or create new synergistic products or services for the company. This is accomplished by allowing and fostering non traditional thinking and by encouraging and supporting the use of out of the box thinking within the firm.
Examples Google allows engineers 20-percent time so that they re free to work on projects in which they they have a personal interest POST IT NOTES 3M Intrapreneurs Spencer Silver and Art Fry
Models of Corporate Entrepreneurship Administrative Model Opportunistic Model Acquisitive Model Imitative Model Incubative Model
Compensation of Intrapreneurs Traditional SBU Corporate Spin Off
Skills required It takes a unique set of skills beyond creativity in order to become a successful intrapreneur. An intrapreneur must be willing to take some risks at sharing and pushing an unique idea, have the perseverance to wait for senior management s final approval to create and launch a product or service, and possess the drive to see the idea through to fruition, no matter what.
The barriers Corporate bureaucracy Internal product competition Competing demands for resources Resistance to change Absence of internal venture capitalists for guidance employees lack of ownership reduces commitment Corporate environment not as free to creative people as entrepreneurial environment.
Freedom factors The right to appoint oneself as an intrapreneur. The right to stay with the venture The right to make decisions The right to appropriate corporate slack The right to start small
