6 INTRAPRENEURSHIP Flashcards
What are the central connections involved in intrapreneurship?
Intrapreneurs: Act as innovators within organizations. They are entrepreneur and manager at the same time.
Established Companies: They act in established companies which, Provide resources and structure but may impose bureaucratic constraints.
Corporate Value System: Shapes intreprenurial activity
General Conditions: Market trends, resources, and company culture impact intrapreneurial efforts.
What is the definition of intrapreneurship?
Proactive employees who drive entrepreneurial initiatives within the organization -the opposite of compliant employees
Employees become (perceived) entrepreneurs
The key factor is strong identification with the company and its goals
What are some key similarities between intrapreneurs and entrepreneurs?
Recognizing opportunities.
Developing new business models.
Aiming to create value.
Taking calculated risks and overcoming resistance.
Accepting responsibility for their actions.
What are the major differences between intrapreneurs and entrepreneurs?
Risk: Intrapreneurs face career risks; entrepreneurs face financial and existential risks.
Networks: Intrapreneurs rely on internal networks; entrepreneurs use both internal and external networks.
Profits: Intrapreneurs do not share in profits, entrepreneur can use the profits to compensate for the risk
How do intrapreneurs combine managerial and entrepreneurial roles?
They balance:
Managerial Tasks: Planning, budgeting, organizing workflows, motivating teams, monitroing, hireing…
Entrepreneurial Tasks: Innovating, recognizing opportunities, managing risks, and driving change.
What are the advantageous traits of intrapreneurs?
Performance Motivation: High willingness to tackle challenges.
Internal Locus of Control: Belief in controlling outcomes through one’s actions.
Striving for independence: urge to become independent
Problem Orientation: Focus on addressing root challenges.
Risk and uncertainty tolerance
Resilience: Physical and emotional strength under pressure.
Assertiveness: Ability to lead and influence.
Social Adaptability: Navigating established organizational dynamics to push entrepreneurial projects.
What is individual entrepreneurial orientation?
A concept focusing on individuals’ innovativeness, risk tolerance, and proactiveness, making them likely to take on entrepreneurial roles within their organizations.
What are some empirical findings about intrapreneurs?
More common among men than women.
Tend to have higher education.
Often possess entrepreneurial backgrounds.
Strong decision-making abilities, especially under uncertainty.
Efficient problem solvers without perfectionist tendencies.
What are the “10 Commandments” for intrapreneurs?
1 Come to work every day and be ready to get fired.
#2 Bypass all orders that are aimed at ending your dream.
#3 Do everything to make your project work, no matter what your job description is.
#4 Network with capable people who can support you.
#5 Create an energetic team: Choose only the best to work with you.
#6 Work hidden as long as possible - publicity triggers the organization’s immune system
#7 Be loyal and true to your sponsors.
#8 Remember that it is easier to ask for forgiveness than to ask for permission.
#9 Be true to your goals, but be realistic about the ways to achieve them.
#10 Keep the vision present
What benefits does intrapreneurship bring to companies?
Work Efficiently: Focus on getting things done without unnecessary delays or bureaucracy.
Adapt Quickly: If something isn’t working, be ready to change direction fast.
Be Visionary: Clearly describe what the future can look like and explain how to achieve it.
Inspire Innovation: Motivate others to share and implement their own ideas and think creatively.
Support Others: Spend time helping people grow and improve their skills.
Promote Collaboration: Support not just your own projects, but also good ideas from others.
Encourage Enthusiasm: Create an environment where people feel excited to improve and try new things.
