Why Intrapreneurship is Vital in the Workplace
There’s a lot of talk about entrepreneurship seeing how it has driven some of the world’s greatest mind to come up with highly innovative solutions. But what if employers could think and behave like entrepreneurs? Well, that’s what intrapreneurship is all about.
Intrapreneurship is a system that enables an employee within a company to behave like an entrepreneur. Intrapreneurs are self-motivated, proactive, and action-oriented individuals who think outside the box and have leadership skills.
Sara Caroline Sabin in her emphasises the importance of intrapreneurship and how it can help enrich the workplace. Let’s have a look.
Sara opines that having only a few decision-makers in an organisation such as the senior leaders and C-level executives limits that innovation potential of a company. This because the employees are more closer to the end-users and can better understand their needs in many cases.
A focused approach to innovation needs to be taken in order to make it work. A system needs to be in place to evaluate the ideas, budget and time allocated to staff to develop them.
Keeps Employees Engaged
Intrapreneurship greatly increases the level of employee engagement. If an employee understands that their idea is valued by their organisation, it somewhat puts the direction of the company in the hands of the employee and this will make them approach tasks more seriously knowing that what they do has an influence on the company’s future.
Intrapreneurship consistently draws on a larger pool of ideas. When successfully implemented throughout a company it can make innovation the way of life of the employees, rather than a process that occurs once in a while.
Gallup’s 2016 Report showed that employee engagement, regardless of the company’s industry, consistently impacts key performance results such as company profitability. This boosts employee motivation. Sara recommends putting a system in place that rewards innovation.
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