Why INTRAPRENEURSHIP is important for Competencies and Business Innovation in the Organization?

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Intrapreneurship is a term coined by Burgelman in his 1983 dissertation (www.wikipedia August 24, 2007) and made prominent by Gifford Pinchot (1985) in his book, “Intrapreneuring: Why You Don’t Have to Leave the Corporation to Become an Entrepreneur.” Pinchot (1985) defines an intrapreneur as a “person who focuses on innovation and creativity and who transforms a dream or an idea into a profitable venture, by operating within the organizational environment.”

A lot of companies are known for their efforts towards nurturing their in-house talents to promote innovation. The prominent among them is “Skunk Works” group at Lockheed Martin. This group formed in 1943 to build P-80 fighter jets. Kelly Johnson was the director of the project, a person who gave “14 rules of intrapreneurship”. Robbie Bach, J Allard and team’s XBOX might not have been feasible without the Microsoft’s money and infrastructure. The project required 100s of millions and quality talent to make the product.

As observed 80% of employees of any organization are either discontent with the kind of work they do and the salary they draw, or are de-motivated because their work is not appreciated by their seniors. Slowly and gradually such people lose the interest in work; the dedication is nowhere to be seen. They are tired to work for others’ enterprises / companies. These people try to look for a meaning in the organization itself and when unable to do so they move on to find it somewhere else or in their own venture.

Intrapreneurship is one method of stimulating, and then capitalizing on, individuals in an organization who think that something can be done differently and better.

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