Reinventing the ‘Intrapreneur’ for the 21st Century

Posted by Webb 36.0 on February 7, 2011 · 6 Comments 

The popular vision of success in today’s society is that of the entrepreneur. The individual who starts a new business venture from scratch, secures the necessary funding and resources and then, with vision, innovation and dedication, builds this into an ongoing commercial venture. But the aspiration of the entrepreneur isn’t attainable, or even appealing to everyone. Starting an enterprise in this fashion requires the right timing and often entails significant personal risk and sacrifice. There are millions of potential ‘entrepreneurs’ around the world who, due to circumstances and existing responsibilities – family, financial, etc. – aren’t in a position to ‘go it alone’. Yet the values of the entrepreneur aren’t confined to the new business. With the right mentality, aspirations and techniques, the goals and rewards of the entrepreneur are achievable to those acting within existing organisations to simultaneously build both individual and company success. The ‘Intrapreneur’ is an ‘internal entrepreneur’.

The term ‘Intrapreneur’ was first coined by management consultant and author Gifford Pinchot in 1978 and entered into the American Heritage Dictionary in 1992 as: “A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation.” The concept and definition of ‘Intrapreneurship’ were products of the 20^th Century. An age where large business dominated, where companies were shaking the shackles of structure and hierarchy borne by slower and less responsive communications systems, where there was a defined interface between the company and the consumer.

In the early days of the 21^st Century the revolutions taking place in technology and communications, which in turn are revolutionising societies and markets, have created an environment where change is constant, actions are instantaneous, and organisation is fluid. The need for innovation is paramount as information is universal, resources readily attainable and ideas pervasive. This scenario represents a rich soup of opportunity for both the individual and the organisation. The age of a new Intrapreneur is upon us, but we need to reinvent our definition to understand and appreciate the role and opportunity that Intrapreneurship in the 21^st Century represents.

Intrapreneurship in the modern age brings together a number of strands of pop business culture that combine to create a tool kit of strategies, techniques and attitudes that will empower the individual and mobilise a company’s resources to achieve and surpass their combined goals. Success coaching, personal branding, networking, reputation management are just as integral to the role as innovation, risk-taking and influencing.

Today’s Intrapreneur is someone who redefines their role and personal brand by taking direct action to advance ideas, projects and ventures utilising an organisations internal resources and external equity to the joint achievement of the individual’s and company’s goals.

The distinctions here are:

• The Intrapreneur does not need to be assigned the role by the organisation. He or she must empower themselves to create their own expanded role for the betterment of their careers and the company’s gain.
• Intrapreneurship can be manifest in any organisation: large or small, niche or mainstream, commercial or non-profit, local or multi-national. Our new definition applies equally to all organisations where the employee can create a remit to grow.
• Intrapreneurship isn’t just about coming up with a new product – although this is a great example of Intrapreneurial behaviour. It could be taking an existing product to new heights, developing new markets, improving efficiencies – all manners in which the company is propelled forwards towards its goals.

Intrapreneurship mobilises the individual to put their talents, creativity and passion into play to invigorate their career and maximise their personal potential and achievements. Companies that foster an Intrapreneurial spirit have higher employee engagement and retention, more innovation and a greater competitive edge. It’s the definitive ‘win-win’. To achieve this there are challenges on both sides: the fear of change, attachment to set ways of working, and the risk of losing resources: time and financial. Yet for the 21^st Century business, empowering this newly defined Intrapreneur is critical to meeting the unrelenting demands of today’s consumers and markets.

Filed under Intrapreneurship · Tagged with business, entrepreneur, entrepreneurial, entrepreneurship, internal entrepreneur, internal entrepreneurship, intrapreneur, intrapreneurial, intrapreneurship, marketing