I’m reading up about intrapreneurship, i.e. developing an entrepreneurial environment within the existing workplace to fuel innovation, competition, change and success.
Virgin has done this since its inception. Richard Branson has said that ‘while it’s true that every company needs an entrepreneur to get it under way, healthy growth requires a smattering of intrapreneurs who drive new projects and explore new and unexpected directions for business development’.
Federico Re, an Entrepreneurial Coach and founder of creativeentrepreneur.com.au, has explored how intrapreneurs think and how to foster them within the workplace. Spot the people you work with who have these qualities:
- Vision for Change: intrapreneurs constantly seek to develop faster/better services or products that provide meaningful solutions to everyday problems through new technologies and associated devices, social media, and new consumer trends.
- Corporate Responsibility: intrapreneurs have awareness and concern for the environment and sustainable practices. They aim to address global issues in real world ways and for ‘socially conscious’ ideas to become mainstream.
- Incentives & Rewards: intrapreneurs seek public acknowledgement from managers for their efforts and unique ideas. This is as important as financial reward.
Encouraging input from your lateral employees is important for everyone. Introduce a weekly meeting to discuss new ideas, or an old fashioned suggestion box will do. Take a look within your own walls for the people who care about progress and change for the better; encouraging and rewarding them can kickstart progress and ensure your team commits to coming along for the ride.