Growing innovation from within: What is intrapreneurship?

We've all heard of entrepreneurship, but what about intrapreneurship? The idea is not new, but it took decades for it to deserve its name. Intrapreneurship is more sought after than ever and is slowly but surely gaining importance. It is recognized as one of the keys to success.

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

What is intrapreneurship?

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

Intrapreneurs are the unsung heroes of innovation that exist in every company!

They have creative ideas, can bring a different perspective and ultimately help the company they work for achieve its goals by thinking outside the box. They nurture the entrepreneurial spirit without taking the risk of starting your own business.

Difference between entrepreneur and intrapreneur

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

• In the battle between intrapreneurship and entrepreneurship, entrepreneurs hire intrapreneurs.
• Entrepreneurs assume the financial risk of founding and running the business.
• Intrapreneurs work for a salary, without legal or financial liability.
• Entrapreneurs are decision makers, while intrapreneurs are the creative force.
• Entrepreneurs create products, while intrapreneurs develop ideas.
• Entrepreneurs use their own resources, while 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 only responsible for their tasks or their team.
• Entrepreneurs are self-motivated, while intrapreneurs are motivated by salary, promotion, and recognition.

Intrapreneurship vs. Entrepreneurship: Quite similar, yet different

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

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

Can an entrepreneur be an intrapreneur and vice versa? Although both perspectives and working approaches share certain values, they are primarily defined by the position within the company. However, the same person can be both an entrepreneur and an intrapreneur at different times. For example, an intrapreneur can take the plunge and start their own business, thus becoming an entrepreneur.

3 types of intrapreneurs

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

The creators: This type of intrapreneur is not necessarily creative or innovative in the traditional sense. Their main feature is that they are effective in achieving short-term goals.

The Creators: They always think ahead and are looking for innovative tools to increase their productivity and develop new ideas. Your optimistic attitude is highly valued by companies.

The Implementers: This group of intrapreneurs always has the big picture in mind and works best under pressure.

What are the benefits of intrapreneurial behavior?

Entrepreneurs are incredibly valuable to a company, but their influence goes far beyond that, and they also have a number of advantages.

Benefits for the employee and his team

Here are some of the benefits of being an intrapreneur:

• Intrapreneurs have a higher degree of autonomy.
• You have more negotiating power.
• They climb the corporate ladder faster than any other type of employee.
• You possess a high degree of intuition and can recognize when it's time for a change.

Benefits for the company

A company that employs intrapreneurs will not be left empty-handed. Below we present all the benefits that such employees can bring to the company:

• They offer a whole new perspective on the matter.
• They raise standards.
• Intrapreneurs can help promote corporate culture, even if they challenge it.
• Such employees can help management step out of their comfort zone.
• Intrapreneurs increase the company’s revenue.
• They know how to utilize the resources and employees the company already has.
• They are not afraid to take responsibility.

Intrapreneurship: A quality to cultivate

As intrapreneurs gain importance, it is up to their employers to recognize their potential. You must help them to develop by providing them with the necessary tools, such as Flexopus. When companies discourage their ideas and stifle the creative process, they can lose one of their most valuable assets. It is crucial for company management to identify and utilize such talent, whether by granting more relaxed working hours or other benefits.

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