Companies that become complacent and fail to create cultures where employees can be creative are going to be left behind and go out of business. And the benefits of intrapreneurial projects are not just to the corporate bottom line. They generate energy and opportunities for people to step outside their comfort zone and work on the front lines of change.
Elizabeth Uviebinene, writes on how wise companies are encouraging creative staff to generate new and profitable ideas.
“The term was coined in 1978 by business school founder Gifford Pinchot III, defined as the “dreamer who figures how to turn an idea into a profitable reality”.
Many companies talk a good game about using innovation to drive commercial growth but what a lot of these strategies get wrong is forgetting to cultivate a real culture of innovation among their staff and creating an appetite for “intrapreneurs”. An intrapreneur is defined as a person within an existing organisation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation.
Essentially the goal of an intrapreneur is to create something new that does not exist. They have many of the same characteristics as successful entrepreneurs, they think outside the box, problem-solve and are idea generators who take calculated risks when they approach business challenges.”