See yourself driving new business innovation, launching your company into new global markets and leading change? Then you might be an intrapreneur in the making!
What is an intrapreneur?
An intrapreneur is an innovator that operates within an existing organisation, rather than directly creating their own company. The term “intrapreneur” was first coined by management consultant Gifford Pinchot, author of the 1985 book ‘Intrapreneuring’, which he defined as “a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation.”
Why are intrapreneurs important?
Intrapreneurs challenge current assumptions and drive innovative, adding true value to their organisations. Companies need intrapreneurs to fuel business growth, adapt to changing needs and carve out and maintain a competitive advantage in their industry. And the most forward thinking organisations recognise the need to recruit intrapreneurial talent. Google, one of the world’s most innovative companies was the first of its kind to offer its famous “20%” program, giving employees company time to work on their own creative projects. This led to successful Google products such as Google News, AdSense and Gmail. Similarly, Facebook has internal ‘hackathons’ where employees work in teams to create new projects. The “Like button”, one of the most significant innovations in Facebook’s history was the result of a company hackathon.
Why study intrapreneurship?
Studying entrepreneurship is about so much more than learning how to create a startup. Studying entrepreneurship will teach you how to think innovatively and constantly seek new solutions to problems, a skill that you can apply to any organisation to add real value from day one.
Plus, studying entrepreneurship will challenge you to successfully evaluate different opportunities and assess resource needs, work effectively as part of a dynamic team, present your ideas convincingly to gain key buy-in, persuade others to invest in your concept and think outside of the box; all vital skills for future leaders in dynamic organisations.
According to Professor Mark Greeven Global Entrepreneurship Program Director on behalf of Zhejiang University in China, studying intrapreneurship as part of a graduate program in entrepreneurship is important because entrepreneurial skills are needed as much by those working for corporations developing new products, business models and other viable new offerings, as they are by those looking to launch a new startup. He says: “In many large organizations the key difficulty is to balance the large bureaucracy with routines and efficiency with new venturing and exploring new opportunities. I deal with a lot of Fortune 500 companies in China that face this exact problem. Using tools and methods from the startup scene, such as the lean concept I work with them to improve their internal innovation capability, i.e. intrapreneurship.”
Global Entrepreneurship Program: study New Venture Creation, Family Business, Social & Corporate Entrepreneurship
The Global Entrepreneurship Program’s curriculum has been carefully crafted around the 4 pillars of entrepreneurship most important for today’s future entrepreneurial leaders: New Venture Creation, Family Business, Social and Corporate Entrepreneurship. By studying these 4 pillars at leading institutions in entrepreneurship EMLYON Business School in France, Zhejiang University in China and Pace University in the US, you will develop a global view of entrepreneurship, providing you with a cultural experience far beyond academic study.
Plus, you’ll work on real-life entrepreneurial business projects for a sponsor company to sharpen your analytical and decision making skills. The program’s highly practical approach prepares you for the future scenarios you will likely face as an entrepreneur or intrapreneur, enabling you to take advantage of a wide range of entrepreneurial opportunities in the future.
Success Story: Global Entrepreneurship Program graduate Sylvain and true intrapreneur!
Sylvain Brochard graduate of the Global Entrepreneurship Program in 2010 was recruited by Alcimed as Business Development Manager in charge of the expansion of the company in the UK, followed by a move to Singapore to develop the company’s Asia Pacific region. Of his role as an ‘intrapreneur’; creating change and innovation within his organisation, he says: “I could have never pictured myself working a consulting company 5 years ago because this was the complete opposite of what I thought would be entrepreneurial. However an opportunity arose and I seized it. Today, I can’t think of any other work at a corporation that could be more entrepreneurial than what my team and myself do.”