In today’s 21st century knowledge economy the most valuable asset within an organisation is not the intellectual property, technology or the super cool conference rooms, it’s the employees. But far too many organisational leaders are asking “how do we get employees to better serve the organisation?” Instead, to get the most out of your employees ask, “What sort of organisation elicits and merits the best that employees can give?”
Why? Because in today’s VUCA (volatile, uncertain, complex, and ambiguous) world organisations are having to innovate faster than ever before. And intrapreneurship stands out as a catalyst for innovation. Coined by Gifford Pinchot, intrapreneurship is acting an entrepreneur within an organisation. Although similar to corporate entrepreneurship and corporate venturing, the difference lies in that it is a bottom-up innovation process, wherein employees take the reins to drive linear and/or non-linear innovations. So, unlike the traditional notion of entrepreneurship, intrapreneurs leverage existing organisational resources to pioneer new ideas and solutions.
At its core, intrapreneurship embodies the spirit of individuals who are not content with the status quo. These employees, as defined by Pinchot, willingly shoulder the responsibility of driving innovation within their workplace. They become the risk-takers, navigating uncharted territories to address organisational challenges. In essence, intrapreneurs are the driving force behind organisational evolution.
The symbiotic relationship between intrapreneurs and their organisations is key to understanding the transformative power of intrapreneurship. Organisations that foster a climate of intrapreneurship reap the benefits of motivated, self-driven employees who actively seek opportunities to take risks for the betterment of the company. Intrapreneurial initiatives thrive on mutual support – organisations provide the necessary resources, while intrapreneurs, in turn, contribute innovative solutions that propel the organisation toward long-term success.
A subfield of entrepreneurship, the roots of intrapreneurship trace back to the concept of entrepreneurship, dating as far back as 1723 after economist Richard Cantillon introduced the concept. However, the distinction lies in the approach: entrepreneurs identify and scale new ventures, while intrapreneurs harness existing resources to cultivate innovation within the organisational framework. The journey of an intrapreneur is marked by a willingness to challenge the established norms and defy the organisations status quo, but this is also what makes being an intrapreneur a high-risk occupation.
The path of intrapreneurship is not without its challenges. Unlike entrepreneurs who navigate external landscapes, intrapreneurs must also navigate internal organisational cultures and politics. Success hinges on leadership facilitating bottom-up innovation, However, organisations are often run as top-down bureaucracy creating environment resistant to change and intrapreneurship. Employee conformity may overshadow intrapreneurial endeavours when met with organisational inertia.
According to Drucker (2014), embracing change and uncertainty is paramount for intrapreneurs. Risk-taking is an integral component of success in every economic activity, and intrapreneurs must recognize its necessity. In essence, intrapreneurship demands a mindset that thrives on adaptability, resilience, and an unwavering commitment to driving positive change within the organization.
In conclusion, intrapreneurship emerges as a critical driver of organisational success, shaping the behaviour of employees and challenging the conventional norms of the business landscape. However, the journey is not for the faint-hearted—it requires visionary leadership, a supportive organisational climate, and intrapreneurs willing to navigate both external and internal challenges. As organisations adapt to the ever-evolving business landscape, embracing and cultivating intrapreneurship becomes not just an option but a strategic imperative for sustained growth and innovation.