WHAT IS AN INTRAPRENEUR? (The Intrapreneurship Series)
Attend #OneDayInnovationMBA here www.tiisetsomaloma.co.za/events.
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This is part of my Intrapreneur Series — check other articles on the link. It was inspired by this post: ‘How Africa can create jobs and wealth in the 4IR: African Corporations should innovate vertically Like Tesla and Zara | Innovate The Next book’ https://buff.ly/3BnJTlB
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2022 is the resurgence year of intrapreneurship.
Simply, intrapreneurship is when an employee becomes an entrepreneur for their employer.
I.e. it is when an employee/s comes up with (him/her, others) an entrepreneurial business idea for their employer and execute it.
They are in charge of executing and trying to make it a business success (i.e. more income than expenses in the long run).
It might fail.
And, the employer is behind it (maybe not fully, because life never gives you all the ideals). They must make best and do best, with what they have, like entrepreneurs.
Funding and support
The company funds the idea. Firstly, they pay the employees’ salaries. Secondly, they should allocate resources to the project:
- Office space (It should not be a problem as the employer’s company is running already)
- Funds. The company allocates funds for the project to start (purchase services, hire talent, etc.). It also could happen they stop funding.
- Offer any other support and resources. For E.g. the intrapreneur’s manager introducing her to others in separate departments who could support them, or even externally.
The difference between an entrepreneur and an intrapreneur is, an intrapreneur is allowed, funded and in other ways resourced by the employer.
However, to succeed, they have to think and hustle like entrepreneurs.
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Send us any questions you have regarding intrapreneurship.
This is part of my Intrapreneur Series — check other articles on the link. It was inspired by this post: ‘How Africa can create jobs and wealth in the 4IR: African Corporations should innovate vertically Like Tesla and Zara | Innovate The Next book’ https://buff.ly/3BnJTlB
