Intrapreneurship in IT by Stefan Morrow Stefan Morrow

Intrapreneurship in IT by Stefan Morrow

Stefan Morrow » » » » » 38 years Born in London/UK Raised and Educated in Germany Moved to Malta in 1995 Started with computers and programming at very early age Passionate about technology – its creative freedom – freedom to imagine/innovate something and do it First entrepreneurial venture was online BBS (pre Internet) about Programming, Hardware sales etc. I have worked mainly for startups or emerging companies such as RS/2 International, ECON Euro Consulting Group, Uniblue and Net. Refer Have continued my entrepreneurial endeavors and introduced the CD/DVD Repair Business in Malta Started my own company four years ago (http: //www. wildgras. com) that now focuses on Online Business Solutions catering to Startups, Entrepreneurs, MLM (Multi-Level Marketing) and other established businesses

What is Intrapreneurship about It is the distinct effort and intent to promote the following (within an organisation): » Innovation » Creativity » Rewards » Retain entrepreneurial culture (calculated risk)

Why is Entrepreneurial Culture important? » Many companies become rigid over time » Companies suffer from fear of loss of revenue, business, lifestyle, … » Increase competitive edge » Create healthy work environment and “organic growth”

Intrapreneurship in IT is ideal » IT is a fast growing industry that continuously evolves and creates high customer expectations » It affects and revolutionizes nearly every other industry (financial services, manufacturing, media, gambling and entertainment) » Innovation and creativity in IT helps find ways to improve science, medicine and research » Plenty of opportunities for growth, new products » New products and services can often be derived by breaking down or complementing existing products and services.

Intrapreneurship in relation to Goals Company Employee Customer Competitiveness Job satisfaction Lower prices Revenues/ROI Personal growth Better service Employability Career Better quality Asset retention Rewards Larger variety Branding Responsibility More gadgets Cost savings Peer recognition More features In order to achieve these goals a company needs to continuously improve and progress – it cannot afford to stagnate – see later MLM example. Intrapreneurship is able to do this in ways traditional change management techniques are not because it is not bound by the same rules and restrictions.

What does Intrapreneurship look like? » It is not a set and forget system – NOT: “just tell everybody to be intrapreneurial” » Intrapreneurship is instigated top down » The meaning has to be made clear as well as expectations and boundaries (risk management) – otherwise there is risk of misinterpretation (Software Company): • Manager: “Be more creative and take responsibility” • Software Developer: “Yes finally” • Manager (later): “Oh shit – this is out of control”

Introducing Intrapreneurship Concept » » » » Create Intrapreneurial Culture Learning workshops Case studies Discuss/provide incentives (rev share, bonus, etc. ) Methodologies (agile, reporting) Controlling guidelines for risk management Time off – creative time Study opportunity – study business, industry, competition etc. » Create budgets, projects, teams for new ideas

Focus points for Intrapreneurship • Organization optimization • • Internal processes (e. g. support, delivery, releases) Internal software Automation Change management (small to medium sized company transformation) • Products and services • New markets • Marketing techniques

Intrapreneurship by Example Sony Playstation Ken Kutaragi was working as a Sound Engineer at Sony Corporation when he developed the idea for a Sound Chip to improve the quality of sound for the Nintendo Game Console. He obtained permission from Sony to retain his job while also working as an external consultant to Nintendo - and with great success. After the executives at Sony learned of this they threatened to fire him despite having obtained permission beforehand. Norio Ohga then CEO of Sony however recognized the value of Ken’s creativity, entrepreneurial spirit and innovation and encouraged Kutaragi’s efforts allowing him to continue working as a consultant to Nintendo. When Nintendo later decided not to go along with Ken’s next generation of gaming system he saw the opportunity for Sony to enter the computer gaming market and pressed hard to convince the executive management of this decision. Once again the majority of executive management turned against him and again the same CEO backed up his effort and plan. The product that Ken went on to help Sony produce is non other than the legendary Sony Playstation. http: //www. intrapreneurshipinstitute. com/resources/intrapreneurship-case-study-of-the-sony-corporation%E 2%80%99 s-playstation/

Intrapreneurship by Example AVON Cosmetics AVON is the largest and oldest (126 years) direct selling enterprise for beauty products in the world: • 6. 5+ Million Representatives in over 100 countries • Annual Revenue 11 Billion USD (140 USD per mo/per Representative) • Annual marketing budget of 1. 4 Billion USD (10% of Revenue) AVON has been losing market share and revenue over the past decade and missed crucial opportunities to grow, modernize and maintain its market position. Making change happen by creating an enterprise-level Intrapreneurial playground that acts like a living organism that continuously grows by structured involvement of all Representatives and executives: An Online Social Business Network Platform providing sales tools, controlling, marketing and management functions. Tapping into the knowledge and intrapreneurial spirit of 6. 5+ Million Representatives and Employees. http: //management. fortune. cnn. com/2012/04/11/avon-andrea-jung-downfall/

Intrapreneurship by Example Google Intrapreneurship Program [ON June 30, 2006 Marissa Mayer, Google's Vice President of Search Products and User Experience presented a seminar at Stanford University in which she stated "Fifty percent of what Google launched in the second half of 2005 actually got built out of 20% time. "] http: //www. intrapreneurshipinstitute. com/resources/intrapreneurship-case-study-googles-intrapreneurship-program-is-very-successful/

Related Inspirational Links/Services » TED – Ideas worth spreading: http: //www. ted. com » Derek Sivers: How to start a movement http: //www. ted. com/talks/derek_sivers_how_to_start_a_movement. html » Derek Sivers: Weird, or just different? http: //www. ted. com/talks/derek_sivers_weird_or_just_different. html » Khan Academy https: //www. khanacademy. org/