The term Intra-preneurship was coined by Gifford Pinchot, a management consultant III in the late 70’s and the same was popularised by academic researcher Howard Edward Haller as well as the genius visionary and co-founder of Apple inc., Steve Jobs.
If you aim to create smart solutions, efficient products, or simple but unique and effective processes, your business needs enterprising minds, you need people around you to be full of ideas and hungry to experiment, eager to make discoveries. But you don’t need to look too far. There is a pool of untapped talent right in your own office.
It’s not possible to predict how important intrapreneurship is to the future of your company. But as an employer, you must provide the resources and assistance to develop ideas to employees with a solid idea and a plan to see it through. 3M’s Post-Its, Google’s Gmail, and Facebook’s ‘Like’ button are few examples where the employees came up with idea, worked on them and made them successful.
Here are 5 key reasons why intrapreneurship is not only important but a veritable need in every start up today that aspires to stand apart:
Creates A Perennial Pool Of Ideas
It all begins with an idea. In today’s lightning paced world, it’s wise choose any unused idea for future use. Traditional companies rely on a selected few to do the job of thinking and come up with ideas. In this case, pro-intrapreneurship companies have the upper hand because there new ideas are encouraged, and expected, from everyone and from only few specific people. This gives the company and its employees a whole lot more to play with. So whether it’s about improving an existing product or creating a new one, intrapreneurship will never let you run out of ideas.
Intrapreneurship inculcates an entrepreneurial frame of mind within your team. This mindset leads to identifying new ways of doing business and also individuals that are appropriate for the task.
For instance at Gozoop, most of the accounts are divided into individual verticals like a company’s Strategic Business Units that are independent entities, governed entirely by themselves.
Leads To Innovations
It is a proven fact that innovation plays a vital part in an organisation and its growth. But this growth is hugely influenced by an equal partnership between intrapreneurship and innovation.
Work environments that are conducive to intrapreneurship give boost to innovative thinking and make it comfortable for employees to take some time out of their regular day and work on some personal project which could perhaps benefit the organisation and their personal growth of course.
Identifies Highly Productive Team Members
Intrapreneurs are talented problem solvers with an ability to take risks. They also have an eye out for what’s possible. Intrapreneurs take risks and find out effective ways to accomplish given tasks, provide best possible solutions, and try to increase productivity. Encouraging intrapreneurs makes your organisation stand to gain a lot.
Creates a Sense Of Achievement
Identifying and nurturing intrapreneurs not only benefits your organisation from business point of view but also impacts your employees attitude and morale positively. It instils a sense of belonging and achievement in them if you entertain their ideas and help them fulfil their vision.