Entrepreneurship within a company

We have our own Intrapreneurship program called “One Box” which encourages employees constantly to “brain storm on ideas”, “problem solving” and “employees get benefitted financially if an idea is implemented”.

Now what is Intrapreneurship?

“Intrapreneurship is the practice of entrepreneurship by employees within an organization”.

The Difference

An entrepreneur takes substantial risk in being the owner and operator of a business with expectations of financial profit and other rewards that the business may generate. On the contrary, an intrapreneur is an individual employed by an organization for remuneration.

Intrapreneurs share the same traits as entrepreneurs such as conviction, zeal and insight. As the intrapreneur continues to expresses his ideas vigorously, it will reveal the gap between the philosophy of the organization and the employee. If the organization supports him in pursuing his ideas, he succeeds. If not, he is likely to leave the organization and set up his own business.

How to Encourage Intrapreneurship ?

# Make sure people are not afraid to fail. This fear will kill any and all possible innovation.

# Create an in-house team to track the competition. 

# Continually ask people what products or services your company could be providing that would be helpful.

# Have people from different departments work with one another to come up with new products and ideas.

# Collect consumer opinion on products that are already on the market.

# Create at least one collaborative venture with another company.

# Ask your employees to openly discuss what they think about your company and where improvements can be made.

# Have each of your managers come up with monthly ideas that will add value to your company.

# Allow people to have some time to have fun !!

# Train employees to help them learn more about creative thinking.

Finally, Intrapreneurship is good for a company’s Team health and growth.