No, the title of this post is not a typo. It is a new (made-up) word to describe business development within the organization as opposed to new market opportunities. Some also use it to specifically address internet-based opportunities for new business.
The word got me thinking about the COVID-19 virus which has shrunk the global economy in 2020 and our concerns about whether people will be willing to take risks to develop new markets and business opportunities where capital is not abundant, whether it is Steve Jobs and the i-culture or something as seemingly insignificant as the sticky note developed by accident at a lab at 3M in Minnesota.
i saw a cartoon which I found quite poignant. So I enhanced it to show the org chart for the kind of companies we do not want to work for.
Click to expand
An intrapreneur is a staff member who is tasked with developing an innovative idea or project within a company. The intrapreneur may not face the outsized risks or reap the outsized rewards of an entrepreneur. However, the intrapreneur has access to the resources and capabilities of an established company.
An intrapreneur works inside a company to develop an innovative idea or project that will enhance the company's future.
The intrapreneur is generally given autonomy to work on a project that may have a considerable impact on the company.
Over time, an intrapreneur may turn into an entrepreneur.
Whether intra- or entrepreneurial I believe that every leader (team leader, manager, director, etc.) needs a spirit of seeking to take the resources which they have at their disposal and maximizing the gain for the organization.It goes from not wasting resources to practicing innovation.
Herb