“Intrapreneurship” harnesses the entrepreneurial abilities of individuals within the boundaries of an organization. Intrapreneurs constantly innovate ideas, products, processes etc. They are risk takers and think outside the box. They often use company resources in order to transform an organization. However, the culture of a company can pose major challenges to their efficient functioning within an organization.
Intrapreneurship can be encouraged by creating an ideating space and providing sufficient time away from the regular activities and functions of the organizations. The goals and challenges of the organization need to be discussed within the organizations so as to enable employees to think of innovative ways of solving problems and overcoming challenges.
As functions within an organization are becoming more standardized and monotonous, millennials are looking for more meaningful, creative and positive experiences as well as a sense of identity in their workplace.
Intrapreneurs need to be nurtured in the existing system.
There are many ways to do so:
- A robust Human Resource team should be able to identify and hire as well as nurture intrapreneurs who are creative, resilient and enthusiastic and eager for change coupled with a high level of commitment.
- The organization (across functions) should support and encourage intrapreneurs in their mission to change the existing structure/system.
- The funding mechanism should be in place and must be a key enabler in converting ideas to actual products, services and processes to drive change inside the organization as well as bring about change in the stakeholders.
- Performance of intrapreneurs needs to be constantly judged by a robust team of enablers, keeping in mind the goals and the vision of an organization. Adequate leeway should also be allowed for mistakes.
A team of senior and experienced leaders can mentor intrapreneurs, so that:
- Their ideas create values
- Disruptive solutions become commercially viable
- They overcome the risk-averse attitude of large organizations
- Stay focused on creating change through innovative ideas
- Stay relevant to the organization and society
- Track the overall success of their intrapreneurial ventures within the organization
- Create a positive societal impact
According to a new study from the University of Phoenix, analyzing responses from 1000 working U.S. adults surveyed, ninety-three percent of adults think they possess at least some entrepreneurial qualities.
Employee empowerment was found to have a direct effect on job performance, and an indirect effect on satisfaction and innovativeness, in a study published in the Public Administration Review in April 2013.
In order to nurture and create more intrapreneurs within an organization, it is important to prioritize employee relationships and camaraderie and encourage brainstorming and ideation.
Huhman, H. R. (2015, September 21). 6 Steps for Converting Employees Into Intrapreneurs.
Extracted from https://www.entrepreneur.com/article/250729