This is the start of a series of articles in which you will get an overview of the meaning of intrapreneurship. You will learn what intrapreneurship exactly means, how it works and what it takes to successfully implement it in your company.
THE MOST IMPORTANT AT A GLANCE
The overarching goal of business enterprises is to develop new growth potentials in addition to the ongoing core business. Intrapreneurs can make a valuable contribution here.
Intrapreneurship means that salaried employees can act as entrepreneurs in their own right. They have the security of an employee relationship, but can work on their idea during their working hours without taking on the risk of setting up their own business.
The advantage for intrapreneurs is that if an idea fails or is not implemented, they are still employed by the company and do not have to fear for their economic existence, as can happen with startup founders, for example.
A framework condition that promotes intrapreneurship is first of all the openness of managers and executives to use and promote the innovative potential of employees.
Establishing a central office that acts as a focal point for innovation also helps. Employees need to know where they can turn and that their ideas are welcome and will be seriously considered. This opportunity must be open to all employees in the company – from grassroots to management.
Even if the company is too small for large-scale intrapreneurship programs, many of the measures described can be organized with little effort. This creates a spirit of entrepreneurship among employees and leads to more innovations. What is important is the commitment and openness of the company management to allow innovations from within and to give employees the necessary resources (time, networks, money) to develop and present the ideas.
An employee reading this article who has ideas doesn’t have to wait for an intrapreneurship program to come along. Instead, he should approach his manager on his own initiative and fight for the resources he needs to implement his idea.
To read more:
Part 1: Intrapreneurship – How innovation succeeds from within your own company.
Part 2: How intrapreneurs think and work
Part 3: Success factors for successful intrapreneurship in your company