Finding the Talent Within: What is Intrapreneurship?

We have all heard of entrepreneurship, but what about intrapreneurship? The idea is nothing new, but it took decades before it earned its name. As it becomes more coveted than ever, intrapreneurship is slowly but surely increasing its impact. It is recognised as one of the keys to success.

So, what is intrapreneurship, and how can you benefit from it?

What Is Intrapreneurship?

Intrapreneurship is the kind of entrepreneurship that becomes evident within the existing company, its policies, and business objectives. It is a value generated not by the CEO but by the employees.

Intrapreneurs are the unsung heroes of innovation present within every company!

They have creative ideas, can provide a different perspective, and ultimately help the company they work for achieve their goals while thinking outside the box. They nourish entrepreneurial spirit without taking the risk to start a company of their own.

Intrapreneurship vs. Entrepreneurship

So, what is the main difference between intrapreneurs and entrepreneurs? They are much more different than you might think:

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• In the intrapreneurship vs. entrepreneurship battle, entrepreneurs employ intrapreneurs.
• Entrepreneurs assume the financial risk of founding and running the company.
• Intrapreneurs work for a wage with no legal or financial liability.
• Entrapreneurs are decision-makers, while intrapreneurs are the creative force.
• Entrepreneurs create products, while intrapreneurs generate ideas.
• Entrepreneurs use their resources, and intrapreneurs use the company’s resources;
• Intrapreneurs are challenged by the company’s culture, methodology, and goals, while entrepreneurs are challenged by the market.
• Entrepreneurs are responsible for the entire company, while intrapreneurs are responsible only for their tasks or their team.
• Entrepreneurs are self-motivated, and intrapreneurs are motivated by salary, advancement, and appreciation.

Intrapreneurship vs. Entrepreneurship: Quite Similar Yet Different

Despite all the differences, both groups have a few things in common:

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• They lead by example.
• They are innovative.
• They are risk-takers.

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Can an entrepreneur be an intrapreneur and vice versa? While both perspectives and approaches to work share specific values, they are primarily defined by the position within the company. However, at different points in time, the same person can be both an entrepreneur and an intrapreneur. For example, an intrapreneur employee may take a leap of faith and start their own company, thus becoming an entrepreneur.

3 Types of Intrapreneurs

Although there is no agreement on how many types of intrapreneurs there exactly are, there are at least three kinds. The most popular classification was created based on the characteristics of an intrapreneur when approached with a task:

1. The Doers: This type of intrapreneur is not necessarily creative or innovative in the traditional sense. Their main trait is that they are effective in reaching short-term goals.

2. The Creators: They always think ahead and are looking for innovative tools to increase their productivity and generate new ideas. Their optimistic outlook is much welcomed by companies.

3. The Implementers: This group of intrapreneurs always looks at the bigger picture and works best under pressure.

What Are the Advantages of Intrapreneur Behaviour?

Entrepreneurs are incredibly valuable to a company, but their influence goes much further than that, and they also gain a number of benefits.

Benefits for the Employee and Their Team

Here are some of the advantages of an intrapreneur:

·  Intrapreneurs have a higher level of autonomy.

·  They have more negotiating power.

·  They climb the corporate level faster than any other kind of employee.

·  They are highly intuitive and can recognise when it’s time for a change.

Benefits for the Company

The company that employs intrapreneurs won’t end up empty-handed. Here we outline all the benefits such employees can bring to the company:

·  They provide a whole new perspective on the issue.

·  They increase standards.

·  Intrapreneurs can help to boost the company culture, even if they challenge it.

·  Such employees can help management to step out of their comfort zone.

·  Intrapreneurs increase organisational revenue.

·  They know how to use the resources and employees that the company already has.

·  They are not afraid to take responsibility.

Intrapreneurship: A Quality to Nourish

As intrapreneurs gain prominence, it is on their employers to recognise their potential. They must help them thrive by providing them with the necessary tools, such as Flexopus. By discouraging their ideas and shutting down the creative process, companies can lose one of the most valuable assets they have. In 21^st-century business management, it is of vital importance to detect such talents and put them to good use, whether by allowing them more casual working hours or providing other benefits.

Ultimately, intrapreneurship is a new way of thinking that can help companies thrive.