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.