Intrapreneurship - Reigniting the flame for business success
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Transcript of Intrapreneurship - Reigniting the flame for business success
IntrapreneurshipRe-Igniting the Flame for
Business Success
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IT and communications revolution
Unrelenting competitive pressure
Focus on value by customers
Globalisation
Changing business and organisational structure
Changing attitudes to work and family
Demand for knowledge and skills
What are the drivers of change affecting Businesses?
Intrapreneurs - So what are they?
• How do they differ from entrepreneurs?
• in-tra-pre-neur (InÕtre-pre-nur) n. A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation intra (corporate).
Intrapreneurs… Intrapreneur is the
name given to employees who come up with their own ideas and then bring those ideas to life with the assistance and resources offered by their employers.
Intrapreneurs can be found in all types of industries, creating new products and services.
Intrapreneur CharacteristicsIntrapreneur Characteristics• Intrapreneurs are:
• Courageous • Innovative• Risk takers• Flexible • Creative
• Energetic• Enthusiastic• Imaginative• Inventive
Inspirational Quote• Champions aren't made in gyms.
Champions are made from something they have deep in them – a desire, a dream, a vision. They have to have the skill, and the will. But the will must be stronger than the skill.
Muhammad Ali
Their task is to put together a team of enthusiastic volunteers, build a network of sponsors and have ideas for creating new products or services, often working on them in their own time. They can see how savings can be made and how processes can be improved.
Intrapreneur Characteristics…
The Role of Environment or Culture
One of the Biggest Revenue earners for the Company since 1974…
3M Corporation – The story of the Post it Notes…
Businesses need Intrapreneurs
Intrapreneurs are the powerhouses within companies that create new businesses, that keep a company or organization moving forwards, motivate colleagues and keep profits up.
The Challenge
So how do you encourage people to come forward with their ideas?
If you don't, they may move on to another company, or they may start their own business and become one of your competitors.
Motivation & RewardMotivation & Reward
• Financial? Not always the key.• For intrapreneurs and entrepreneurs it is normally a bonus not a driver. •Much motivation comes from ‘doing the job more efficiently/safely’ or ‘my way’
Win – Win situation.Win – Win situation. What motivates the What motivates the Intrapreneurs?Intrapreneurs?
Win – Win situation.
• Changing running taps in chemical factories, print works or hotels can cover installation costs in months and save thousands in water charges. So the employer wins (and so does the environment).
• DuPont – tracking blood in 90 days
Gifford Pinchot• Gifford Pinchot is an
author, speaker and consultant on innovation management.
• Pinchot was the first person to come up with the idea and term of Intraprenuership.
Gifford Pinchot’s 10 Commandments for Intraprenuers:
• Do any job needed to make your project work regardless of your job description.
• Share credit wisely.
• Remember, it is easier to ask Remember, it is easier to ask forgiveness than permission.forgiveness than permission.
• Come to work each day Come to work each day willing to be fired.willing to be fired.
• Ask for advice before asking Ask for advice before asking for resources.for resources.
Commandments continued…Commandments continued…
• Follow your intuition about people; build a
team of the best.
• Never bet on a race unless you are running in it.
•Build a quiet coalition for your idea; early
publicity triggers the corporate immune
system.
Commandments continued…