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Corporate Intrapreneurship:

Thought and Musings From a Serial Builder

Corporate Intrapreneurship:
Thought and Musings From a Serial Builder

Corporate Intrapreneurship:
Thought and Musings From a Serial Builder

Why CORPORATIONS NEED INTRAPRENEURS


Firms create competitive advantages by discovering new and better ways to compete in an industry and bringing them to market An enterprise that does not daily innovate inevitably ages and declines Even in a successful business the disease of bureaucracy and complacency is dangerous

Entrepreneurship
The process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either resources (human and capital) or the location of the entrepreneurin a new or existing company (Churchill, 1992: 586).

What keeps most people from becoming entrepreneurs?


Funding Manpower Strong backing Branding/Marketing Fear

Entrepreneurship Characteristics
Commercial leanings Lack of structure/self-control Visionary tendencies. Risk-taking/appetite for uncertainty Persistence Doer/high initiative Charisma and extroversion

Entrepreneurship Characteristics
High-energy level Strong self-image Team building skills/uses contacts and connections Views failure as learning Commitment and fun

Definition
in-tra-pre-neur (Intre-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

Source: American Heritage Dictionary of the American Language, 1992 edition

Positive differences between entrepreneur vs intrapreneur


Funding
company/organization often has capital to fund the project

Manpower
intrapreneurs do not have to worry about finding the talent to get tasks performed

Branding
intrapreneurs can use the branding of the company/organization to get their ideas to take root

Intrapreneurship Characteristics
Understands the environment. Visionary and flexible. Creates management options. Encourages teamwork. Encourages open discussion. Builds a coalition of supporters. Persists.

Characteristics
Results driven Ambitious Creative Original Self Confident Risk Tolerant Persistent Influencing High Energy Action oriented Interpersonal Innovative

Misdiagnosed Characteristics
Ambitious over zealous Creative does not follow guidelines Persistent pushy Self confident cocky Innovative dreamer High energy high strung Risk Tolerant bends the rules / challenges the system

Innovation
To create and bring into use profitable new products, processes, services, and ways of doing business.
Creation of new or alternative products Opening of a new market Capture of new sources of supply

Dimensions of Intrapreneurship
(Antonic and Hisrich, 2003)

Dimension New Ventures New Businesses

Definition Creation of new autonomous or semi-autonomous units or firms. Pursuit of and entering into new businesses related to current products or markets

Product/Service Creation of new products and Innovativeness services Process Innovativeness Innovations in production procedures and techniques

The Intrapreneurs Ten Commandments


Build your team, intrapreneuring is not a solo activity. Share credit widely Ask for advice before you ask for resources. Under promise and over deliver -- publicity triggers the corporate immune system Do any job needed to make your dream work, regardless of your job description. Remember it is easier to ask for forgiveness than for permission. Keep the best interests of the company and its customers in mind, especially when you have to bend the rules or circumvent the bureaucracy Come to work each day willing to be fired Be true to your goals, but be realistic about how to achieve them Honor and educate your sponsors.

Companies that get it


3M Apple Google Amazon Ebay DST Inc. Cerner Corp PharMerica Corp

Parting Thoughts
Intrapreneurs are dreamers who do, those who take hands-on responsibility for creating innovation of any kind within an organization. Gifford Pinchot The intrapreneur is an essential ingredient in every innovation. Dr. William Souder

THANK YOU
It has been an Honor

Questions ??