ENTREPRENEURSHIP MANAGEMENT Intrapreneurship Prof Bharat Nadkarni Entrepreneurship Management

ENTREPRENEURSHIP MANAGEMENT Intrapreneurship Prof Bharat Nadkarni

Entrepreneurship Management Entrepreneur and Intrapreneur What is Intrapreneurship ? • It is a corporate entrepreneurship • It is entrepreneurship in existing business • They bridge a gap between a manager and an innovator. • Their contribution is in taking new ideas and even working prototype and turning them into profitable products and businesses. • When the ideas have become solid and functioning businesses, intrapreneurs tend to grow bored. At this point, they often need proven managers to maintain and develop business while they go back to building new ventures for others to manage.

Entrepreneurship Management As a corp. entrepreneurship – an organisation seeks to expand/ grow by exploring new opportunities through new combinations of its existing resources. • It is a tool for stimulating and capitalizing on individuals in an organisation who believe that something can be done differently and in a better way. An Entrepreneur operates in an open world whereas an intrapreneur operates within the organisation. For Entrepreneur, the liability is total whereas for Intrapreneur the liability is limited to his contract with his employers.

Entrepreneurship Management An Intrapreneurs profile • Vision • Motivation • Bias to act • Skills • Locus to control • Locus to risk • Failure and mistakes • Goal – setting • Innovation

Entrepreneurship Management Advantages of Intrapreneurship • Intrapreneurial ideas offer a way to build onto or improve the corp. business • Capital for the idea is easy to come from internal sources within a corp. identity • The established corporate image helps to boost the chances of success of an intrapreneur idea. • Corporates offer economies of scale in marketing, distribution and service. • Corporates offer the unique advantage of multidisciplinary teamwork. The intrapreneur retains the job security but as well enjoys the freedom and prosperity.

Entrepreneurship Management Intrapreneurial Environment • Organization operates on frontiers of technology • New ideas encouraged • Trial and error encouraged • Failures are allowed • Resources available and accessible • Multidiscipline teamwork approach • Long time horizon • Appropriate reward system • Support of top management

Entrepreneurship Management Comparison between Entrepreneurial, Intrapreneurial and Managerial functions • primary motives • time orientation • activity • risk • status • failure and mistakes • decisions • who serves • relationship with others • family history

Entrepreneurship Management Comparison between Entrepreneurial, Intrapreneurial and Managerial functions Managerial Intrapreneurial Entrepreneurial Primary motives promotional and other traditional corporate rewards like office, staff, power Independence and ability to advance in the corp. rewards Independence, opportunity and money Time orientation Short term - meeting quotas and budgets, W/M/Q and annual planning horizon Between Manager and Entrepreneur, depending on urgency to meet self imposed and corp. timetable Survival and achieving 5 -10 yrs growth of business Activity Delegates and supervises rather than direct involvement Direct involvement, more than delegation Direct involvement Risk Careful Moderate risk taker

Entrepreneurship Management Comparison between Entrepreneurial, Intrapreneurial and Managerial functions Managerial Intrapreneurial Entrepreneurial Status Concerned about status symbols Not concerned about traditional status symbols, desires independence Not concerned about status symbols Failures and mistakes Tries to avoid mistakes and surprises Attempts to hide risky projects from view until ready Deals with failures and mistakes Decisions Usually agrees with those in upper management positions Able to get others to agree to help achieve dreams Follow dreams with decisions Who serves Others Self, Customers and Sponsors Self and Customers Relationship with others Hiararchy as basic relationship Transactions within hiararchy Transactions and deal making as basic relationship Family history Family members worked with organisations Entrepreneurial small business, professional or farm background

Entrepreneurship Management Thank You