Intrapreneurship - All you Need to Know

Darryl Bachmeier
Jul 9, 2020
Productivity


You must have been all atoned with the concept of entrepreneurship without knowing that other areas exist. Well, the surprise news is that there is another called “Intrapreneurship.” Intrapreneurship is defined as the system where the employee acts as the entrepreneur within or outside his/her workplace. An average Intrapreneur is proactive, self-motivated, and action-oriented and is ready to take steps that guarantee his/her success in achieving innovative service or product. Interpreters have a common philosophy; they believe that failing in a particular venture is not a personal cost, as in an entrepreneur’s case. This is because those organizations they work with will absorb losses that may arise from this failure.

Understanding the Concept of Intrapreneurship

Intrapreneurship breads an entrepreneurial atmosphere by letting employees use their skills for the benefit of both the employees and the company. On the other hand, Intrapreneurship gives an average employee the freedom to experiment while still trying to find the best option. Let’s cite an example. In the course of Intrapreneurship, the situation may require that an employee research and recommend a better workflow chart to a particular company brand that will favor the company.

For any company to grow, employers must recognize those employees with an intrapreneurship spirit. Failure to do this might be consequential to either the brand or the company; the worst-case scenario is both. Having these intrapreneurial employees in a company guarantees growth, not only on the departmental level but also in the company. We have witnessed companies lose their best people; most of them possess intrapreneurial skills due to their lack of interest in Intrapreneurship. And these people establish their businesses, and most of the time, outperform their previous companies.

How do you Identify intrapreneurial

Honestly, spotting out this set of people can be quite challenging. But for clues, these employees are usually the secluded type of people; they believe more in their abilities than some proven fact from an academician. They are very ambitious (if not overly ambitious); they know exactly where to find what, how to find it, and what to do with ‘what’ when they finally get it. And on an uncommon note, they don’t always listen to instructions – they never carry out these instructions without applying their model.

This set of people are more of problem solvers than speculators. They are the type that always thrives on being productive while cutting costs. Employers interested in identifying intrapreneurship spirited employees should look out for skills like leadership skills and the ability to think out of the box. An average intrapreneurial has what it takes to take risks and introduces innovation into a business against the old method of doing things.

A good intrapreneur is comfortable with risk and is never afraid of testing his/her ideas. They are very good at interpreting trends, coming up with market analysis, design a useful forecasting model that can help the company stay in the competition. Such people are every company’s backbone when strategizing new ways for a profitable future for the company.

Some Renowned Intrapreneurs

Some clear examples of Intrapreneurship can be drawn from real-time stories of multi-national companies like Nokia. Its president Ramzi Haidamus got rid of their office pattern three months after he assumed work in 2014. He introduced an open office system believing that with such an open atmosphere, employees will share ideas as they come. He had separately interviewed over a hundred individuals to understand which technology has the possibility of becoming successful in the market.

Another example is the Texas Instrument scenario. Larry Hornbeck, a researcher at IT, had embarked on research which includes experimenting with some tech tool using reflective mirrors to redirect photons. This experiment had taken him ten years already, but in 1987, he and his team came up with what is today called a Digital Micromirror Device (DMD). At first, it was used to print airline tickets but subsequently introduced to what IT called the Digital Imaging Venture Project, a way to expand the project.

Another typical example is Lockheed Martin. He had to allow Kelly Johnson, Skunk Works founder, to operate differently and in an autonomous organization with his few teams of like minds. The outcome of this is that it created what the company has tagged “the most innovative aircraft” models in history – the SR71. Lockheed Martin has confirmed in an interview that giving some sets of intrapreneurs the support they need gave them more power to generate more ideas and innovate without going through those crazy approval processes. Finally, as an employee, try your best to discover these talents and make them more useful than they ought to be.

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