Intrapreneurship Course in Singapore
About This Intrapreneurship Course in Singapore
Intrapreneurship is a recently coined term in business which means the practice of coming up with unique ideas and implementing them within the company with the aim of advancing them through innovation and creativity. An intrapreneur is mindful of the culture and goals of the organization and must operate only within its walls. He or she is an idea pitcher and an innovative thinker who is not afraid to promote change and lead a team.
The first use of the term “intrapreneurship” can be dated back from a paper written by Gifford and Elizabeth Pinchot in 1978. Not until 1985 did the concept gain public spotlight in the TIME magazine article entitled “Here come the Intrapreneurs”. Over the years, it has evolved into a practice sought by startup companies and entrepreneurs. Nowadays, intrapreneurship is not only encouraged in a company, but there are those which are offering intrapreneurship programs to get ahead of the competition. It is also a modern field where millennials are being massively recruited since they provide new insights into problem-solving cases and creative ideas.
Intrapreneurship indicates employee initiatives in organisations to try something new, without being required to do so.” Therefore, the intrapreneur concentrates on creativity and innovation, and converts an idea into a profitable venture, while working within the company’s conditions. Thus, intrapreneurs are private entrepreneurs who grasp the goal of the business. Intrapreneurship is an instance of motivation through job design, either informally or formally. Workers, such as marketing executives or perhaps those engaged in a particular project within a larger company, are encouraged to behave as entrepreneurs, even though they have the resources, capabilities and security of the larger company to draw upon. Seizing a little of the changing nature of entrepreneurial management (trying things until learning from failures, successful attempting to conserve resources, etc.) adds to the potential of an otherwise static organisation, without exposing those workers to the risks or accountability usually associated with entrepreneurial failure.
One more characteristic of intrapreneurs is their flexibility and courage to think outside of the box, which enables them to work on ideas that may shift strategic direction. Even though several managers are fearful of revolutionary changes, they are often the only way to help companies grow. This is illustrated by Wipro in India, a tiny vegetable business that ended up being a software outsourcing company. Another perfect example is Tony Hsieh of Zappos, who began as a commercial footwear vendor and became the CEO of Zappos, which has developed into an online customer experience organisation.
Intrapreneurs are both employees and leaders of large organisations that act similar to entrepreneurs in terms of, examples, self-motivation, creativity and pro-activity. Pinchot claims that while intrapreneurs must be leaders, they differ very much from managers. Strong leadership skills are needed to encourage teams and to persuade others to follow and execute their ideas. Leadership abilities are also essential to support quick decision making under uncertainty. Managers, on the contrary, consider more risks than uncertainty and often work within established patterns. Furthermore, traditional managers get their power from the above; intrapreneurs, by contrast, begin without the notice of the same degree of power.
Intrapreneurs can hunt for opportunities and shape them into high-potential innovations through teamwork and with path to corporate resources. This implies the right conditions of great leadership, communication and the appropriate environment to support creativity; these are essential for entrepreneurial results to take place). The win-win position of intrapreneurial motivation pointing to corporate benefits is considered idealistic by some. According to Smedley), only a few companies know how to encourage intrapreneurs. Some examples are listed below.
This course will teach the participants the concept of intrapreneurship and the characteristics needed of an intrapreneur. It will also train them to apply the concepts to their personal projects and company situations.