The concept of intrapreneurship might appear unfamiliar in the world of business, unlike entrepreneurship, so, let us set the ball rolling by telling who an intrapreneur is. In an organization, an intrapreneur acts in the capacity of an “inside entrepreneur”. They employ the skills of an entrepreneur but avoid all the factors that lead to risk-taking.
In an organization, you have employees performing their regular task for the company, but sometimes, a need arises that would warrant these employees to get assigned special projects, with the idea that, this special project must get properly handled like a complete entrepreneur.
The role of an intrapreneur involves some level of innovation. Innovation itself is a key factor in the success of an organization. Going years back, departments like Operations, Sales, and Marketing, were not functional, or, rather, do not exist in some organizations, but can you imagine a business organization today without all these departments?
Coming down to innovation as well, organizations that want to have an edge in today’s competitive market need intrapreneurs to discover, develop and accelerate growth within the organization.
The degree of focus that the intrapreneur possesses, is quite different from that of the entrepreneur. While an entrepreneur’s vision is focused on establishing a company from scratch, an intrapreneur’s scope is on an already established organization.
The means of providing goods and services drives the entrepreneur. This does not necessarily apply to an intrapreneur, who has his focus on seeking out policies, innovations and how to apply them in increasing the productivity of the organization.
With the way entrepreneurs experiment with different ideas to arrive at the best solution, intrapreneurs have the capacity for professional growth during the experimentation because; they have autonomy and the freedom to experiment, during the project. With much independence, he analyzes the trends essential for the organization.
Over time, intrapreneurs rise to become top executives, their comprehension of business at all levels affords them the insight to move the organization forward.
Providing solutions to problems afford the intrapreneur to manage the growth of younger intrapreneur in the organization. This ensures better integration in the organization.