Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently… you can praise them, disagree with them, quote them, disbelieve them, glorify or vilify them. But you can’t ignore them. Because they change things. They invent. They imagine. They heal. They explore. They create. They inspire. They push the human race forward. While some see them as the crazy ones, we see genius. Because, the people, who are crazy enough to think they can change the world, are the ones who do. 1

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Learning outcomes By the end of this session you should understand at the threshold level  Meaning and scope of intrapreneurship  Characteristics of intrapreneurs  Enablers and barriers to intrapreneurship 3

4 Other terms  Corporate entrepreneurship  Corporate venturing  Intrapreneuring  Internal corporate entrepreneurship  Internal entrepreneurship  Employee entrepreneurship (Global Entrepreneurship Monitor)

5 What is Intrapreneurship? Intrapreneurship is Entrepreneurship practiced by people within established organisations

Definitions Entrepreneurship Spotting and developing an opportunity to create value through innovation, disregarding the resources currently controlled Churchill, 1992 Pursuit of opportunity beyond the resources currently controlled Stevenson,

Definitions Intrapreneurship Spotting and developing an opportunity from within an organisation to create value through innovation disregarding the resources currently controlled Churchill, 1992 Pursuit of opportunity from within an organisation beyond the resources currently controlled Stevenson,

8 Who is an intrapreneur ? A person within a large corporation... Takes direct personal responsibility for turning an idea into a 1. Profitable 2. Finished product Through 1. Assertive risk taking and 2. Innovation

9 Corporate Entrepreneurship  Increasing research over the last 25 years  Renewed interest recently due to increased competitiveness Depends on  Not just the individual But also on  Organisational support systems  Project teams and  External environment

10 Enablers to intrapreneurship  Appropriate use of rewards  Management support  Resource availability  Organisational structure  Risk taking

11 10 Commandments of Intrapreneurs  Do any job to make your project work, regardless of your job description (for success)  Share credit (for success) wisely  It is easier to ask for forgiveness than permission  Come to work each day willing to be fired  Ask for advice before asking for resources  Follow your intuition about people, build a team of the best early publicity triggers the corporate immune system  Build a quiet coalition for your idea; early publicity triggers the corporate immune system  Never bet on a race unless your are running in it  Be true to your goals, but realistic about ways to achieve them  Honour your sponsors

12 History of Intrapreneurship Norman Macrae 1. (The Economist, 1976 ) “dynamic corporations of the future would be trying alternative ways of doing things in competition within themselves". 1. (The Economist, 1982 ) “ the above trend has resulted in confederations of intrapreneurs”.

13 Gifford and Elizabeth Pinchot  Coined the term  Gave credit for their thinking to Macrae.  Began a school for intrapreneurs in Sweden  In 1985 published the book, “Intrapreneuring” based on their research and practical applications. History of Intrapreneurship

14 Difference between Intrapreneur and Entrepreneur The intrapreneur  Acts within the confines of an existing organisation.  Acts first and then informs  Challenges the status quo and fights to change the system from within.  Finds a ready source of "free" resources within the organisation which can be applied to the opportunity being exploited.  Seeks out the organisational slack  Innovation tends to be harder within an organisation

15 What retards Intrapreneurship?  High costs of failure and low rewards of success  Inertia caused by established systems that no-one is willing to change  Hierarchy

Further reading: 1. Pinchot,Gifford and Pinchot, Elizabeth (1985) Intrapreneuring: Why You Don't Have to Leave the Corporation to Become an Entrepreneur, Harper & Row 2. Morris, Michael H, Kuratko, Donald F and Covin, Jeffrey G (2011) Corporate Entrepreneurship & Innovation Cengage learning 3. Wolcott, Robert C and Lippitz, Michael J (2010) Grow from within :Mastering Corporate Entrepreneurship and Innovation, McGraw-hill, New York 4. Paul Burns (2008) Corporate Entrepreneurship: Building an Entrepreneurial Organisation, Palgrave McMillan, Basingstoke 16

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