1. ENTREPRENEURSHIP MANAGEMENT Intrapreneurship

2. Entrepreneurship Management
Entrepreneur and Intrapreneur
What is Intrapreneurship ?
It is a corporate entrepreneurship
It is entrepreneurship in existing business
They bridge a gap between a manager and an innovator.
Their contribution is in taking new ideas and even working prototype and turning them into profitable products and businesses.
When the ideas have become solid and functioning businesses, intrapreneurs tend to grow bored. At this point, they often need proven managers to maintain and develop business while they go back to building new ventures for others to manage.

3. Entrepreneurship Management
As a corp. entrepreneurship – an organisation seeks to expand/ grow by exploring new opportunities through new combinations of its existing resources.
It is a tool for stimulating and capitalizing on individuals in an organisation who believe that something can be done differently and in a better way.
An Entrepreneur operates in an open world whereas an intrapreneur operates within the organisation.
For Entrepreneur, the liability is total whereas for Intrapreneur the liability is limited to his contract with his employers.

4. Entrepreneurship Management
An Intrapreneurs profile
Vision
Motivation
Bias to act
Skills
Locus to control
Locus to risk
Failure and mistakes
Goal – setting
Innovation

5. Entrepreneurship Management
Advantages of Intrapreneurship
Intrapreneurial ideas offer a way to build onto or improve the corp. business
Capital for the idea is easy to come from internal sources within a corp. identity
The established corporate image helps to boost the chances of success of an intrapreneur idea.
Corporates offer economies of scale in marketing, distribution and service.
Corporates offer the unique advantage of multidisciplinary teamwork. The intrapreneur retains the job security but as well enjoys the freedom and prosperity.

6. Entrepreneurship Management
Intrapreneurial Environment
Organization operates on frontiers of technology
New ideas encouraged
Trial and error encouraged
Failures are allowed
Resources available and accessible
Multidiscipline teamwork approach
Long time horizon
Appropriate reward system
Support of top management

7. Entrepreneurship Management
Comparison between Entrepreneurial, Intrapreneurial and Managerial functions
primary motives
time orientation
activity
risk
status
failure and mistakes
decisions
who serves
relationship with others
family history

8. Entrepreneurship Management
Comparison between Entrepreneurial, Intrapreneurial and Managerial functions
Managerial
Intrapreneurial
Entrepreneurial
Primary motives
promotional and other traditional corporate rewards like office, staff, power
Independence and ability to advance in the corp. rewards
Independence, opportunity and money
Time orientation
Short term - meeting quotas and budgets, W/M/Q and annual planning horizon
Between Manager and Entrepreneur, depending on urgency to meet self imposed and corp. timetable
Survival and achieving 5-10 yrs growth of business
Activity
Delegates and supervises rather than direct involvement
Direct involvement, more than delegation
Direct involvement
Risk
Careful
Moderate risk taker

9. Entrepreneurship Management
Comparison between Entrepreneurial, Intrapreneurial and Managerial functions
Managerial
Intrapreneurial
Entrepreneurial
Status
Concerned about status symbols
Not concerned about traditional status symbols, desires independence
Not concerned about status symbols
Failures and mistakes
Tries to avoid mistakes and surprises
Attempts to hide risky projects from view until ready
Deals with failures and mistakes
Decisions
Usually agrees with those in upper management positions
Able to get others to agree to help achieve dreams
Follow dreams with decisions
Relationship with others
Hiararchy as basic relationship
Transactions within hiararchy
Transactions and deal making as basic relationship
Family history
Family members worked with organisations
Entrepreneurial small business, professional or farm background

10. Entrepreneurship Management
Entrepreneurship in Rural Areas
Issues
Population Growth
Population below the poverty line
Agriculture work force- small and marginal farmers
Disguised employment
Migration of farm workers to the urban areas

11. Entrepreneurship Management
The basic entrepreneurial principles should be applied to rural development. This would result in :
Better distribution of farm produce resulting in the rural prosperity
Entrepreneurial occupation for rural youth resulting in reduction of disguised employment and alternative occupations for rural youth.
Formations of big cooperatives like Amul for optimum utilisation of farm produce
Optimum utilisation of local resource in entrepreneurial ventures by rural youth or involving rural youth.

12. Entrepreneurship Management
The support system
Ex ; Amul, MAFCO
The enclave projects
Time schedules
Synchronisation among agriculture produce
Processing & shipping demand the tightest discipline
Stoppers – local politics & lethargy in bureaucracy

13. Entrepreneurship Management
Profile of a Rural Entrepreneur
Should not be an individualist. Should have a group orientation. Should consider the rural society not as his market but as his own large family
Should practice management style where the concern for people is the highest
Should have a strong commitment for rural development
Social gain, philanthrophy should be the focus.

14. Entrepreneurship Management
MYTHS REGARDING ENTREPRENEURS
Born not made
Anyone can start a business
Are gamblers
Are own bosses
Work longer and harder
Only for rich
Age is a barrier
Motivated by quest for the money
Seek power and control over others
Anyone with good idea can raise capital
Once with enough capital cannot fail
If talented success must come in 1- 2 years

15. Entrepreneurship Management
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