Dave Kerr, CTO of smartcrowds, explains why Intrapreneurship is vital for success in today's fast-paced corporate environment...
In today’s economic climate, it’s no wonder Intrapreneurship has become a buzzword sweeping through corporate organisations:
“the act of behaving like an entrepreneur while working within a large company.”
The need for new thinking, creative solutions and an innovative approach has never been more essential to foster growth and long-term business success.
For long-term and truly impactful change, intrapreneurs must work holistically across all aspects of a business, be able to understand the inner and outer workings of the organisation and understand the need and opportunities for innovation. And no one is in a better position to do this than the existing employees, partners, clients and stakeholders of the company.
As Andrew Corbett says in the Harvard Business Review, “Our research supports the idea that people are a company’s most cherished and important innovation asset. The intrapreneurship concept understands this but focuses its hopes on a genius who can swoop in to save the day. Instead, we must start thinking of innovation as a capacity that needs organization-wide support.”
Smart companies don’t just bring in disrupters, they encourage every employee to be intrapreneurial, creating conditions that allow staff to identify challenges, regardless of size and create new, sometimes very simple, but overlooked solutions. After all, who better to identify solutions, develop streamlined processes and offer ideas for cost-cutting opportunities than those who know the business inside and out? Implementing this approach can mean practical, simultaneous and ongoing progress across every strand of an organisation.
Even customers, clients and partners can be intrapreneurial if given the opportunity. Offering product and service users a way to feedback and consult can help companies gain competitive advantages and that lead to genuinely impactful and very profitable changes, rather than unnecessary, and often uninformed innovations based on following industry trends or quick fix attempts.
Intrapreneurship isn’t limited to developing the next big thing or spearheading a company pivot. To create positive change in a meaningful way, companies must support an innovation culture and nurture transformative ideas multi-directionally, from all of their people. This is often a fundamental organisational change, and one that that many are only just starting to realise the benefits of.
Successful, intrapreneurial businesses are constantly improving in a range of accessible ways, from increased productivity and cost-cutting to customer-led solutions. These are the innovations that matter, futureproofing organisations and bettering employee morale or the customer experience, ensuring both audiences for the long term.
smartcrowds 360° solution for sustainable, evidence-based innovation nurtures an end-to-end intrapreneurial approach, empowering individuals within your organisation and capturing their entrepreneurial spirit by turning more ideas into lasting improvements.