Entrepreneurship Versus Intrapreneurship

Definitions of entrepreneurship almost always involve the risk taking within the business world. Businessdictionary.com states “The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.” Why we want individuals to create new companies or even to grow products and ideas within an existing company is beyond the scope of this paper be we are going to assume that over all the outcome of this behavior is good for the organization, community, or country. There is little dispute that the United States was known for this behavior over the last two hundred years and it may be something that we are starting to lose. At least it is a behavior that we want to continue to foster.

1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? Capital, natural resources, human resources, entrepreneurship, and technology. Yes they will accelerate, all of these items are needed for a business to continue

In today’s business world, organisations consider the generation and development of new ideas that potentiate entrepreneurship inside the company to gain higher efficiency and progress in the growth of its industry. Morris (2012) suggests

Firstly there are many ways in which intrapreneurship can be used throughout the company to benefit the efficiency of its employees. This can be done in a multitude of ways. Firstly, the recognition of entrepreneurial qualities within the company can provide other workers within the working area to recognise the exceptionally performing workers among themselves. This will motivate them to improve on the quality of their work as well as the volume in which they produce. As a result other employees will become more motivated in the workplace which can only be seen as a beneficial aspect of Intrapreneurship.

Considerable confusion exists between entrepreneurship and intrapreneurship, as well as, innovation, creativity, and invention. First,

Intrapreneurship is defined as an individual who acts as an entrepreneur within the boundaries of a larger organization (Intrapreneurship, 2016). Intrapreneurs are generally employees within a company who are assigned to work on special projects with resources and capabilities of their company at their disposal. Intrapreneurs are inside entrepreneurs, or entrepreneurs within a large firm that utilize entrepreneurial skills without incurring the risks associated with those activities. Entrepreneurs and intrapreneurs however, vary in their level of focus.

To be able to foster an entrepreneurial environment in the context of a larger corporate, there should be three components that the leaders should address. For one of the components is culture. Culture awareness is huge to the economy. They should accept that failure is part of the process and the willingness to encourage and support entrepreneurs when their first idea doesn’t work well. Another component is infrastructure. This means moving beyond the notion to include the traditional and nontraditional leadership, social

Intrapreneurship, also referred as corporate entrepreneurship, is a key concept in this era of fierce market competition. The start-up philosophy applied to established companies positively promotes change and

Intrapreneur’s are people who create something new but inside an existing company rather than through a new venture. intrapreneurship is the practice of entrepreneurial skills and approaches by or within a company. An intrapreneur is a

Entrepreneurship is related with the capability of recognition and evaluation of opportunities, allocation of resources and growth. Moreover, entrepreneurship has been taken as an organisational notion that contains three magnitudes: Modernisation, Bear risks and Practical alignment. It has been confirmed that the companies that were engaged in entrepreneurial activities are now most successful and efficient.

An entrepreneur is “a person who organizes and manages a business with considerable initiative and risk”. In other definitions an entrepreneur “identifies an opportunity or a gap in a market and evaluates the risk related to the establishment of the business and is prepared to take the associated risk to start the business in the quest for making profit; and has the ability to obtain the resources to establish and grow a business”. Entrepreneurship exceedingly relies on entrepreneurs to start-up, develop and produce companies across the use of their

The major problem every company encounters is the structure or hierarchy of the organization. Usually, it is in the form of a pyramid and gets narrower as it rises resulting in the few people on the top of the pyramid gets more advantages in the company. But the lower level employees are not given that importance when it comes to the utilization of the benefits provided by the company.

Entrepreneurship is difficult to define throughout its history research. Even nowadays, this concept is still a debatable point (Rajendra, et al., 2017). Based on four decades of research, Gartner (1988) concludes that entrepreneurs are founders of new firms. Shane and Venkataraman (2000) consider entrepreneurship as “a new venture’s risk-taking endeavor seeking an opportunity” and Fortunato (2014) adds innovative value into the concept of entrepreneurship. Thus, research on the definition of entrepreneurship continue. According to those diverse views, I will interpret six unique entrepreneurial characteristics and theoretically analyze each one. Risk taker, need for achievement and proactivity as my strengthens will be illustrated with my experience. Innovativeness, internal locus of control and tolerance for ambiguity are my weaknesses, thus I will describe relevant successful Entrepreneurs’ experiences.

An intrapreneur is the employee who sees a problem as an opportunity to advance and improve the company from the inside out. Many times, they do not have the managing executive or director title. Instead, they function as invisible leaders who disrupt processes and invigorate ideas. In fact, intrapreneurs can drive progress within a company’s infrastructure without the CEO’s (or anyone’s) knowledge. With an entrepreneur’s spirit, an inventor’s capacity to solve puzzles, and a passion for adjusting stagnant systems, intrapreneurs are already working for you, but would you know how to spot them?

* The management should consider a group of customers who solely wants product at low cost rather than consignment or service.