Creating successful intrapreneurship programs has been the secret for success in major corporations and organizations around the world. Progressive firms (Corporations, Partnerships, Non-profit Corporations, or Associations) encourage intrapreneurs to stay within the firm and focus their inspired talent with the organization. Intrapreneurship is truly a “win-win” symbiotic relationship between employer and employee/intrapreneur.
What is Intrapreneurship?
Intrapreneurship is the practice of entrepreneurial techniques within an enlightened corporation or organization which allows employees to become intrapreneurs (corporate entrepreneurs within a firm.)
An intrapreneur is an employee who is encouraged to freely and fully use their creativity and innovative ideas to create new products, services, or entire new divisions for their employer with the full backing of the firm’s resources and management.
A Harvard study claims that up to 70% of successful entrepreneurs come up with their business idea while working for a previous employer. These highly talented individuals choose to leave because they found their previous environment discouraging, in the sense of not being open to new ideas and their bosses unwilling to hear their insights.
The Intrapreneurship Institute
Dr. Haller and the Intrapreneurship Institute can equip companies and organizations to effectively use an intrapreneurship program to increase innovation, create new profitable products, and use their intrapreneurship program for key employee recruiting and retention.
Build a Culture of Intrapreneurship
As far back as the 1970s, some business leaders began to recognize the benefits that could be derived by encouraging employees to turn their own ideas into profitable products or services. The process, which came to be known as intrapreneurship (corporate entrepreneurship), has since been responsible for the development of a wide array of successful new cutting-edge offerings from companies as diverse as 3M, Apple, DreamWorks, GE, Hilton, PR1ME Computer, Yahoo!, Sony, LinkedIn, and Google.
Any company that really wants to can start to build a successful intrapreneurship program into their business and ultimately reap the rewards.
6 Key Ways to Build a Culture of Intrapreneurship:
1. Show you mean business
2. Include your entire organization
3. Seek out the intrapreneurs already there
4. Make time for innovation and creativity
5. Actively promote the activities
6. Make failure acceptable and reward success
Smart organizations recognize that nurturing intrapreneurship will be beneficial for their organizational health as well as their bottom line. It takes some effort to develop properly, but the results speak for themselves.