ENTREPRENEURSHIP MANAGEMENTIntrapreneurshipProf Bharat Nadkarni

*

Entrepreneurship ManagementEntrepreneur and IntrapreneurWhat is Intrapreneurship ? It is a corporate entrepreneurship It is entrepreneurship in existing business They bridge a gap between a manager and an innovator. Their contribution is in taking new ideas and even working prototype and turning them into profitable products and businesses. When the ideas have become solid and functioning businesses, intrapreneurs tend to grow bored. At this point, they often need proven managers to maintain and develop business while they go back to building new ventures for others to manage.

*

Entrepreneurship Management

As a corp. entrepreneurship an organisation seeks to expand/ grow by exploring new opportunities through new combinations of its existing resources. It is a tool for stimulating and capitalizing on individuals in an organisation who believe that something can be done differently and in a better way.

An Entrepreneur operates in an open world whereas an intrapreneur operates within the organisation. For Entrepreneur, the liability is total whereas for Intrapreneur the liability is limited to his contract with his employers.

*

Entrepreneurship ManagementAn Intrapreneurs profile Vision Motivation Bias to act Skills Locus to control Locus to risk Failure and mistakes Goal setting Innovation

*

Entrepreneurship ManagementAdvantages of Intrapreneurship Intrapreneurial ideas offer a way to build onto or improve the corp. business Capital for the idea is easy to come from internal sources within a corp. identity The established corporate image helps to boost the chances of success of an intrapreneur idea. Corporates offer economies of scale in marketing, distribution and service. Corporates offer the unique advantage of multidisciplinary teamwork. The intrapreneur retains the job security but as well enjoys the freedom and prosperity.

*

Entrepreneurship ManagementIntrapreneurial Environment Organization operates on frontiers of technology New ideas encouraged Trial and error encouraged Failures are allowed Resources available and accessible Multidiscipline teamwork approach Long time horizon Appropriate reward system Support of top management

*

Entrepreneurship ManagementComparison between Entrepreneurial, Intrapreneurial and Managerial functions primary motives time orientation activity risk status failure and mistakes decisions who serves relationship with others family history

*

Entrepreneurship Management

Comparison between Entrepreneurial, Intrapreneurial and Managerial functions

ManagerialIntrapreneurialEntrepreneurialPrimary motivespromotional and other traditional corporate rewards like office, staff, power Independence and ability to advance in the corp. rewardsIndependence, opportunity and moneyTime orientationShort term - meeting quotas and budgets, W/M/Q and annual planning horizonBetween Manager and Entrepreneur, depending on urgency to meet self imposed and corp. timetableSurvival and achieving 5-10 yrs growth of business

ActivityDelegates and supervises rather than direct involvementDirect involvement, more than delegationDirect involvementRiskCarefulModerate risk takerModerate risk taker

*

Entrepreneurship Management

Comparison between Entrepreneurial, Intrapreneurial and Managerial functions

ManagerialIntrapreneurialEntrepreneurial

StatusConcerned about status symbolsNot concerned about traditional status symbols, desires independenceNot concerned about status symbolsFailures and mistakesTries to avoid mistakes and surprisesAttempts to hide risky projects from view until readyDeals with failures and mistakesDecisionsUsually agrees with those in upper management positionsAble to get others to agree to help achieve dreamsFollow dreams with decisionsWho servesOthersSelf, Customers and SponsorsSelf and CustomersRelationship with othersHiararchy as basic relationshipTransactions within hiararchyTransactions and deal making as basic relationshipFamily historyFamily members worked with organisationsEntrepreneurial small business, professional or farm backgroundEntrepreneurial small business, professional or farm background

*

Entrepreneurship Management

Entrepreneurship in Rural Areas

Issues

Population GrowthPopulation below the poverty lineAgriculture work force- small and marginal farmersDisguised employmentMigration of farm workers to the urban areas

*

Entrepreneurship ManagementThe basic entrepreneurial principles should be applied to rural development. This would result in :Better distribution of farm produce resulting in the rural prosperityEntrepreneurial occupation for rural youth resulting in reduction of disguised employment and alternative occupations for rural youth.Formations of big cooperatives like Amul for optimum utilisation of farm produceOptimum utilisation of local resource in entrepreneurial ventures by rural youth or involving rural youth.

*

Entrepreneurship Management

The support systemEx ; Amul, MAFCO

The enclave projectsTime schedulesSynchronisation among agriculture produceProcessing & shipping demand the tightest disciplineStoppers local politics & lethargy in bureaucracy

*

Entrepreneurship ManagementProfile of a Rural Entrepreneur

Should not be an individualist. Should have a group orientation. Should consider the rural society not as his market but as his own large familyShould practice management style where the concern for people is the highestShould have a strong commitment for rural developmentSocial gain, philanthrophy should be the focus.

*

*

*

*

*

*

*

*

*

*

*

*

*

*