In today’s era, it is vital to provide a chance to the employees to follow their entrepreneurship drive, keeping the company’s safety. Infact, to ensure corporate success, we incorporate the structure, rules, and culture of the firm with the creativity and internal abilities to innovate. The entrepreneurial activities within the organization contribute to acquiring and sustaining a competitive advantage.
Are Intrapreneurs like Entrepreneurs?
Things end up matching these two terms in every aspect and finding out the differences.
The entrepreneurship and intrapreneurship roles in the corporate world are equally important. But, people just know the entrepreneur and thinking intrapreneurship is a spelling mistake.
Every corner we turn, we embrace the entrepreneurs for saving our future in almost every aspect. But organizations are implementing intrapreneurial activities differently.
On the left end, organizations consider an intrapreneur to be an employee who has been tasked with spearheading an innovative effort or creating a new line of business. On the right end, organizations establish venture funds to invest in employee-generated ideas, allowing employees to pursue something they are passionate about.
I work with disruptive innovations and technology, and our vision and mission stay in beat to create the solutions for the future inside the organization itself.
Disruptive innovations are focused on new and smarter ways of doing things, and they are unquestionably changing the way we do things currently. We toss ideas on the desk by looking at the difficulties and the prerequisites for addressing these problems, and what we discover are questions and answers to these problems. Not just this, we follow agile methodologies, design thinking, and business models to make sure that we are reaching customers’ needs.
The switching process between the products and services by the customers is so high that if we don’t understand the customer needs, some other business will certainly. Initially, we all simply need a good seed or space for our ideas to flourish. Here comes the role of intrapreneurship, and when the concept is beneficial, it will play an even greater role.
Not just a single emerging factor, but numbers of factors are there to push the role of the intrapreneurship in the organization. This is because of the internalization, faster product, market obsolescence as well as technological breakthroughs. The factors affecting are changing attitudes towards entrepreneurship and changing the security and mobility of the market, and it makes all the difference.
The essence of Intrapreneurship:
I remember the spectrum of intrapreneurship that was developed from the theory of Antonie and Hisrich 2003, Brazeal and Herbert 1999, Covin and Slevin 1989.
The highly dedicated firms are named when they welcome the changes and their risk-taking factor. It certainly promotes innovation and expectations among the employees to generate something new.
The low dedicated firms save themselves from the uncertainty that surrounds intrapreneurship. They don’t want to bring change and value their innovative employees and traits and never invest time and money.
To better analyze the empirical finding and putting light on it, the essence of the intrapreneurship has to be determined enough to keep the innovativeness among the employees and which is also going to impact businesses positively.
Infact I wish businesses to gain in myriad ways by fostering an intrapreneurship culture. It can be possible if we, being a company, provide the right tools, support, and provide recognition to the employees in the workspace itself. It is simple and exciting to build an intrapreneurship culture in the organization. Encouraging employees to think, dream, act, and create within the organization can be understood as intrapreneurship. It is not an overnight event, and it emerges naturally, not enforced.