Intrapreneurship - Reigniting the flame for business success

IntrapreneurshipRe-Igniting the Flame for

Business Success

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IT and communications revolution

Unrelenting competitive pressure

Focus on value by customers

Globalisation

Changing business and organisational structure

Changing attitudes to work and family

Demand for knowledge and skills

What are the drivers of change affecting Businesses?

Intrapreneurs - So what are they?

• How do they differ from entrepreneurs?

• in-tra-pre-neur (InÕtre-pre-nur) n. A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation intra (corporate).

Intrapreneurs… Intrapreneur is the

name given to employees who come up with their own ideas and then bring those ideas to life with the assistance and resources offered by their employers.

Intrapreneurs can be found in all types of industries, creating new products and services.

Intrapreneurs…

• Intrapreneurs are also found in the social sector.

Intrapreneur CharacteristicsIntrapreneur Characteristics• Intrapreneurs are:

• Courageous • Innovative• Risk takers• Flexible • Creative

• Energetic• Enthusiastic• Imaginative• Inventive

Inspirational Quote• Champions aren't made in gyms.

Champions are made from something they have deep in them – a desire, a dream, a vision. They have to have the skill, and the will. But the will must be stronger than the skill.

Muhammad Ali

Their task is to put together a team of enthusiastic volunteers, build a network of sponsors and have ideas for creating new products or services, often working on them in their own time. They can see how savings can be made and how processes can be improved.

Intrapreneur Characteristics…

The Role of Environment or Culture

One of the Biggest Revenue earners for the Company since 1974…

3M Corporation – The story of the Post it Notes…

Businesses need Intrapreneurs

Intrapreneurs are the powerhouses within companies that create new businesses, that keep a company or organization moving forwards, motivate colleagues and keep profits up.

The Challenge

So how do you encourage people to come forward with their ideas?

If you don't, they may move on to another company, or they may start their own business and become one of your competitors.

Motivation & RewardMotivation & Reward

• Financial? Not always the key.• For intrapreneurs and entrepreneurs it is normally a bonus not a driver. •Much motivation comes from ‘doing the job more efficiently/safely’ or ‘my way’

Win – Win situation.Win – Win situation. What motivates the What motivates the Intrapreneurs?Intrapreneurs?

Win – Win situation.

• Changing running taps in chemical factories, print works or hotels can cover installation costs in months and save thousands in water charges. So the employer wins (and so does the environment).

• DuPont – tracking blood in 90 days

Gifford Pinchot• Gifford Pinchot is an

author, speaker and consultant on innovation management.

• Pinchot was the first person to come up with the idea and term of Intraprenuership.

Inspirational Quote

• Whether you think you can, or you can’t, you’re always right.

Henry Ford

Gifford Pinchot’s 10 Commandments for Intraprenuers:

• Do any job needed to make your project work regardless of your job description.

• Share credit wisely.

• Remember, it is easier to ask Remember, it is easier to ask forgiveness than permission.forgiveness than permission.

• Come to work each day Come to work each day willing to be fired.willing to be fired.

• Ask for advice before asking Ask for advice before asking for resources.for resources.

Commandments continued…Commandments continued…

• Follow your intuition about people; build a

team of the best.

• Never bet on a race unless you are running in it.

•Build a quiet coalition for your idea; early

publicity triggers the corporate immune

system.

Commandments continued…

Commandments continued…

Be true to your goals, but realistic about ways to achieve them

and

Honour your sponsors.