Intrapreneur Definition & Meaning

Ramzi Haidamus, the president of Nokia Technologies, is often considered an intrapreneur because of his initiatives with the company. He decided to do away with individual offices within three months of starting his job in 2014. He believed an open office led to more sharing of ideas and added greater value to the organization. Haidamus interviewed more than 100 engineers individually to determine which technologies had the greatest chance of being successful in the marketplace at the time. Since, last few decades, it has been noticed that people give more value to innovations, which lead to the rise in the number of startup companies year on year.

Businesses that embrace a culture of intrapreneurship benefit through growth and advancement as well as competitive edge. Employees who are encouraged to think outside the box are more engaged, challenged, and have increased job satisfaction. In a recent study, researchers compared the elements related to entrepreneurial and intrapreneurial activity.

Words Near Intrapreneur in the Dictionary

Intrapreneurship makes growth possible by making change acceptable. Without it, organizations will invariably go into decline over time. On the contrary, an intrapreneur is an employee of the organization who is paid remuneration according to the success of the business unit, for which he/she is hired or responsible. The term intrapreneurship was credited to American entrepreneur Gifford Pinchot III in the April 17, 1982 issue of The Economist. As the general manager of a new idea, intrapreneurs show rapid prototypes to customers and make them better.

So, instead of purchasing TV and print ads she took the social networking sites into consideration. If you are aiming to become one yourself or on the lookout for talent within your workspace, hopefully these few characteristics or traits will serve as a rubric for potential heroes. which one defines intrapreneurship An intrapreneur should be someone who follows through on the promises they make. However, it is also crucial for these individuals to remain open and honest. One of the most respectable characteristics of a true intrapreneur is the way they behave in difficult situations.

Hurdles in Intrapreneurship

The fact is, any business can develop a culture of internal entrepreneurs, and that shift can make a business wildly successful. Intrapreneurship refers to employee initiatives in organizations to undertake something new, without being asked to do so. Hence, the intrapreneur focuses on innovation and creativity, and transforms an idea into a profitable venture, while operating within the organizational environment. Thus, intrapreneurs are Inside entrepreneurs who follow the goal of the organization.

Well, ideally it is someone within an establishment that has an entrepreneurial spirit and a lot of innovative ideas. Companies can foster employees’ entrepreneurial mindset and stay competitive by encouraging intrapreneurship. Back in the day,  HP used to have similar policies and just such an innovation-friendly atmosphere and intrapreneurial reputation. Setting up new ventures, products, services, etc. in an already established company can help you stay ahead of the game. Intrapreneurship gives employees the opportunity to create a product, service, or department within their current workplace. Intrapreneurship may seem like a bizarre spelling mistake; however, it is anything but a mistake.

How Intrapreneurship Benefits an Organization

A doctoral program that produces outstanding scholars who are leading in their fields of research. A 12-month program focused on applying the tools of modern data science, optimization and machine learning to solve real-world business problems. This makes Intrapreneurs more productive, but they’re working on a tight deadline to produce some outcomes. Entrepreneurs are their boss with fewer resources, but they have a complete autonomy. The company faced bankruptcy in the year 2012, after the emergence of some popular digital camera brands like Nikon and Canon.

From last few years, it has become a trend that large corporations appoint intrapreneur within the organisation, to bring operational excellence and gain competitive advantage. The origin of the term “intrapreneur” came from a white paper titled “Intra-Corporate Entrepreneurship” which was written by my wife Libba and I for the Tarrytown School for Entrepreneurs in the Fall of 1978. That paper led to rigorous debate, the coining of the term intrapreneur, and eventually publishing of the book “Intrapreneuring” in 1985. Maybe you thought of a new business that would work well in your community. Perhaps it was a simpler way to navigate morning rush hour or school drop-off.