In Trap Re Nu Reship

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IntrapreneureshipChapter 13



Intrapreneureship Definition

“Practice of entrepreneurship in an established firm.Intrapreneurship applies the 'start up' style ofmanagement (characterized by flexibility,innovation, and risk taking) to a secure and stable

firm. The objective is to fast track productdevelopment (by circumventing the bureaucracy) totake advantage of a new opportunity or to assessfeasibility of a new process or design.”

Source: Business Dictionery.com



Intrapreneureship Spectrum

CaretakerPfize

DeveloperSC Johnson

InnovatorsAltoids




Care Taker◦ While the care taker is not an intrapreneur, the

category is included on the spectrum simply as apoint of reference. This is the corporateemployee who is the antithesis of theintrapreneur. All things entrepreneurial areanathema to him. He is most satisfied withinheriting and established product line that has a

solid customer and employee base with themoderate growth.




Developer:◦ This is an Intrapreneur who takes a

companies existing products or services

and pursues high growth by targeting newcustomers and markets. While the productor services are not new, they have nobrand equity in the new targeted markets.




Innovator:◦ This is the Intrapreneur that pursues high

growth for the company through new

product, services and new businessmodels.

◦ The innovator is not the member ofcompany's R&D department.



Intrapreneureship Models

◦ Intrapreneurs whether they aredevelopers or innovators, use differentformal or informal models to bring theirinnovative ideas to fruition. Corporate

Inrapreneurship expert Robert Wolcottand Research fellow Michael Lippitz hasgiven the following models in their latestresearch paper.

The Opportunistic

The Enabler

The producer




The opportunistic:

◦ The model suggests to employees “Do

whatever you want to do, because

company does not have any formalsystem relative to corporateentrepreneurship”.

◦ This is the model in which new products

or services come through individualchampions.




The enabler:◦ This model says to employees, “anyone in

the company can come up with the newservice or product, but here is the process

for developing it.” ◦ In this model company communicates

with employees regarding new ideas andprovide funds to the best possible idea

through a proper system.◦ Google can be the good example of this

model.




The Producer:

◦ The model openly recognizes andsupports the entrepreural activities in a

corporate setting. The company creates aseparate entity that has the specific taskof creating new products or servicesoutside of the present business.

◦ Several companies have embraced thismodel including Coca Cola and Xerox.



Traits of High-GrowthIntrapreneur There are few unique attributes of

Intrapreneurs:◦ Risk Taker

◦Hard worker

◦ Has a plan

◦ Good manager

◦ Visionary

◦ Profit focused

◦ Innovators

◦ Accepts Being Managed



Acts of Intrapreneureship

Acquisition of other companies and productlines.

Introduction of new products outside of the

traditional R&D process. Creation of new strategic partners

Changes in Business Model.



Standard Operatingproceedures The ideal Intrapreneureship system should be

made up of the following procedures:

◦ System should be simple and user friendly.◦ Reward employees for successful ideas.◦ All ideas should be reviewed◦ Every step in the review process should be

transparent and well publicized.◦ The review and approval process should be managed

by more than one person.◦ All Intrapreneural success stories should be

publicized throughout the company to all employees.◦ Employees expectations should be proactively

managed.



Intrapreneureship Blunder

All the listed procedures will almostguarantee that a company does not duplicateone of the greatest Intrapreneural blunders incorporate history. In the mid 1970s, SteveWozniak, a college dropout and self-thought

electronic engineer, worked at HawlettPackard(HP). He offered his ideal ofdeveloping a user friendly personal computer,but Hawlett Packard said no thank you. Sowith $1300 derived from selling his van andother assets, he left HP at the age of 26 and,with the help of his friend, Steve Jobs,developed the Apple I computer for their newentrepreneurial start-up, Apple Computer, Inc.

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