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Title : What is Intrapreneurs? - Rich Kingdom of Business
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What is Intrapreneurs? - Rich Kingdom of Business
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What is Intrapreneurs? Intrapreneurs is the employee in charge of developing innovative ideas or projects in the company. Intrapreneurs may not face too much risk or reap huge rewards from an entrepreneur. However, intrapreneurs have access to established company resources and capabilities.
Intrapreneurs are employees of a company who are assigned to work on specific ideas or projects. They are given the time and freedom to develop projects as entrepreneurs will.
However, they do not work solo. Intrapreneurs have the resources and capabilities of the company they have.
Entrepreneurs and entrepreneurs have different goals. Entrepreneurs imagine creating a company from the ground up. An intrapreneur has a broader vision for an established company. This vision may involve radical changes in the traditions, processes, or products of the company. Intrapreneurs usually have the skills and experience that apply directly to work.
Entrepreneurs start a company as a means to provide goods or services. An intrapreneur tries to improve an existing company. An intrapreneur works within the company to develop innovative ideas or projects that will enhance the company's future. Intrapreneurs are generally given autonomy to work on projects that may have a large impact on the company. Over time, an intrapreneur can turn into an entrepreneur.
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Advantages of Intrapreneurs
Entrepreneurs start a company as a means to provide goods or services. An intrapreneur explores policies, technology, or applications that will help improve the performance of existing companies. Inevitably, when an intrapreneur develops the skills needed to recognize and solve important problems, an intrapreneur can turn into an entrepreneur.
An intrapreneur can expect to be given the freedom and autonomy needed for such a project. Daily consignments are generally not requested. Intrapreneurs are expected to analyze and understand the trends needed to plan for the company's future. Intrapreneurs synthesize their findings and make proposals to stay ahead of their competitors.
Intrapreneurs often become the company's chief executive from time to time. They advance the business and rise to the top with a deep understanding of business at all levels.
When intrapreneurs work to solve problems, they encourage the growth of other talented intrapreneurs and integrate more new ideas for the good of the entire company.
Example of an Intrapreneur
In less than a year on the job as chief of global product management staff at eBay, Healey Cypher realized that the company was missing a major business opportunity.
At that time, eBay only offered e-commerce services to its clients. Despite the growth of Internet retailing, the majority of consumer purchases are still made within 15 miles of consumer homes. Many eBay retailers tell Cypher that they also want a physical retail presence.
After consulting with eBay's chief executive officer (CEO), Cypher put together a team of engineers to develop tools that could be used to create eBay's presence in a physical store. The engineers made an interactive storefront that was finally installed by Toys'R'Us. Over the next two years, the engineers did the same thing for TOMS, Sony, and Rebecca Minkoff.
Cypher's success became the new division of eBay, giving workers autonomy to solve problems and advance the company. Cypher became eBay's Head of Retail Innovation. He is now the CEO of ZIVELO, a company that designs and manufactures digital kiosks and signage.
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