Who Is An Intrapreneur? Definition, Characteristics, Pros/Cons, More

Published on: 27 June 2022 Last Updated on: 01 July 2022

Intrapreneurs and Entrepreneurs – they sound similar right?

Yeah, they do, but their definition, meaning, and characteristics are totally different from one another. Here is what we know about entrepreneurship.

Read the guide till the end to grab some rich insights.

Who Is An Intrapreneur?

Here is a concise definition.

An intrapreneur is the one who is responsible for developing an innovative project or idea within an organization.

He/she doesn’t face the outsized risks that an entrepreneur doesn’t. However, he possesses the major access to all the capabilities and resources of an established company. To be very specific, the intrapreneur gets the autonomy to work on projects having a considerable impact on organizational development.

The term intrapreneur is an amalgamation of two words like “internal” and “entrepreneur.” In 1978, it was first coined by Elizabeth S. Pinchot and Gifford Pinchot II in a white paper.

How Does Intrapreneurship Work?

You are now well aware of what is an intrapreneur. They are the employees of an organization who are given the responsibilities of working on special ideas and projects. In addition, they are given the freedom and time to develop and grow the project that an entrepreneur would.

Does this sound like they work solo? Well, not really because intrapreneurs have all the capabilities and resources of the firm at their disposal. Additionally, they have different objectives. While an entrepreneur envisions the creation of a company from level 0, the intrapreneur has a broader vision for an established entity.

The visions mainly involve radical changes to company processes, products, or traditions. He applies his skills and experiences directly to implement them on the job.

What Are The Characteristics Of A Good Intrapreneur

I hope, by now the meaning is pretty clear to you? Now, Intrapreneurship has some roles and responsibilities which require some special characteristics. Below, I have listed some of the characteristics an efficient intrapreneur must possess.

1.They Are Passionate About Problem Solving

Angels and Intrapreneurs will agree on this one. Focused intrapreneurs are the ones who are passionate about solving problems and set forth to resolve business-oriented issues.

2.They Are Curious, And Adaptable Enough

When it’s the start of a business, the intrapreneur has to play roles in several sectors such as product management, engineering, and marketing. Hence, angels look for people who are curious, adaptable, and respond to learning and development.

3. They Are Transparent

As an intrapreneur, the fastest and most efficient way to gain the confidence of your sponsors is by showing transparency. If any unwanted circumstance happens, then also, transparency needs to be maintained.

4. They Are Resilient

Intrapreneurs starting a business simply have an idea which they have to work super hard to give a shape. That’s why they need to be highly resilient since it’s likely they would come across a plethora of obstacles throughout their journey.

Pros And Cons Of Intrapreneurship

Here is a critical analysis of Intrapreneurship I have explained through an evaluation of its pros and cons. Take a look at the table below:

Pros Of Intrapreneurship	Cons of Intrapreneurship
It decreases the financial risk on the innovator	The glory you enjoy is not for you only, it’s shared.
Makes use of all the organizational talent and resources	There is high potential for conflicts with the other members.
Increases the delivery of better services, products, or support.	Returns are generally less in comparison to the entrepreneurs.
Enlarges your reputation and develops your network.	There are a myriad of risks pertaining to failure
It’s a stepping stone to entrepreneurship	You will still have a boss monitoring you

Companies Around The World Having Intrapreneurs

Here are some leading tech giants around the world who support Intrapreneurship just like different types of entrepreneurs:

Google
Microsoft
Shutterstock
Intel
Facebook
Apple
General Motors
Virgin

Frequently Asked Questions (FAQs):

Q1. What Does Intrapreneur Mean?

An Intrapreneur is an employee who is given the support and authority to create a new service or product. Unlike entrepreneurs, they have no concern about whether or not the product would become a revenue source for the company.

Q2. What Is Intrapreneur Example?

One of the greatest examples of Intrapreneurship is Dreamworks Animation. It’s a media behemoth that gave classic works like Madagascar and Kung Fu Panda. They also offer classes on script writing to the animators.

Q3. What Are The Types Of Intrapreneurs?

The 3 types of Intrapreneur are as follows:
1. Advocate, coming from a customer-facing role
2. The creator coming from an internal-facing role
3. The change maker coming from an external-business-facing role.

Q4. What Is The Difference Between Intrapreneurs And Entrepreneurs?

The main difference between Intrapreneur and Entrepreneur is that an entrepreneur is a ground-up-and-go person when it comes to their own money. On the other hand, an intrapreneur is someone who starts steaming from inside a large company. That’s all about Entrepreneur Vs Intrapreneur.

The Bottom Line

That’s all we had to say about Intrapreneurs. They are overlooked often in the realm of entrepreneurship. However, with the world-changing innovation coming up, established corporations are prioritizing them.
Wanna learn how to become an intrapreneur and Intrapreneur Vs Entrepreneur in more detail? Then keep an eye out on our website as we will be coming up with a guide to that.

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Growing a business in the agricultural sector

It is a fact that the agricultural sector is of massive importance to the whole U.S. economy. It is thought to be worth over $1 trillion to the country each year and is a major employer. Of course, it also gives us the food we need to survive! As such, agriculture is extremely important to the USA and is a popular sector for entrepreneurs to open a business. Although you may have been successful to date, you might currently be struggling with how to move your business up to the next level. This is an important step as it will stop you from stagnating and allow you to generate more revenue. This is true whether you own a farm or run another kind of agricultural company. The below should help if you are looking for a few tips on how to do this. Erect new buildings to house stock or animals For the agricultural sector or business, sustained growth can only come about by having enough of what customers want to buy. Sometimes though this can be seriously limited by the existing space you have to work with. For example, you will struggle to grow beyond a certain point if you have only limited space to house stock or your harvested crops. Investing in new buildings so you can carry more products to sell and thus increase profits makes good sense. Over time, this investment will pay for itself due to the increased sales it allows. Of course, if you are a farmer then putting up new buildings can give you more space to store machinery or give you somewhere suitable to house more animals. Many businesses will opt to use fiber-reinforced concrete when doing so due to the extra strength and durability this gives any new structure. Network, network, network As with any other sector within a business, networking is a great way to stimulate growth in your agricultural organization. This could be on a B2B level where you attend offline networking events to forge new connections or use online platforms like LinkedIn to do the same. Of course, you can also network on a B2C level at things like agricultural trade shows or public events. By engaging in this kind of activity, you are helping to build your brand and showcase to people what you can offer. This can really help you to generate more leads, more sales, and more revenue in the future. If this is not something you usually like to do, it really is worth giving it your best shot. Set specific goals Many people who own a business in the agricultural sector will fail to grow it due to being overly generic in their aims. Merely saying I would like to have a bigger or more successful business this time next year is not specific enough. You need to set out realistic and achievable goals that will ultimately produce the growth you desire. Whether it is trying to develop one new product to launch, setting up a farm shop or revamping your website to attract more visitors, setting specific goals can really help. Getting a proper plan in place of not only what you want to do but also how you will go about it is crucial. Think about digital marketing Whatever goals you set people to need to know you exist before you can grow. By far the best way for many agricultural businesses to go about this is by using modern digital marketing methods. From farming consultants to machinery manufacturers or feed producers, these ways of getting your brand out there can prove very effective. Top of the list for many is using social media platforms. Free to set up and simple to use, they provide an easy way to reach more people globally and to show what you offer. Methods like email marketing and PPC ad campaigns are also effective when done right. Take action to stimulate growth In many ways, helping your agricultural business to grow is no different than doing so in other business sectors. The key is to maximize what you have to sell and making sure that your marketing efforts bring more people in to buy from you. The agricultural sector is of huge importance to the entire U.S. economy. Planting new crops that could prove popular or bringing new products on-board to sell is also worth considering in order to get to where you want to be. The most important part is to have a clear idea of where you are headed so you can take your first steps toward reaching there. Read Also: Strengthening Your Community In 2018 Green Business Opportunities for Eco-Entrepreneurs

Ideas For An Excellent Product Packaging

An average supermarket in the United States has about 40,000 different items for consumers to choose from. How does one consumer choose a product from the number of choices? Every industry relies on manufacturers, consumers, and distributors, but how do they grab the attention of potential buyers? Product Packaging. An industry in itself, proper packaging has the power to attract consumers. If you want to build a strong brand, consider optimizing your product packaging with a unique design and sustainable solutions. What makes an excellent Product packaging design? 1. Simplicity and clarity: When you walk into a supermarket, just go through products and take a glance at them. Do you identify the product or the brand by simply looking at it? The best example of quality packaging will be a clear and simple but highly distinctive packaging design. You will be amazed to learn that most consumers will decide to buy a product or not within a few seconds only. There will be numerous product listings with no specific brand name and you will also look at products that look great from the outside but they are unable to explain what is inside the box. Most importantly, packaging design should not confuse consumers. It should always deliver on clarity. There are some categories that allow a little bit of mystery but if the consumer fails to identify the product in terms of usage, content, or brand identity, it needs to be revamped. Be clear about what you are selling. Do not complicate it in any manner. 2. Be honest: A lot of brands try to depict the product in the most perfect way one can imagine. The packaging shows something about the product which is not real at all. When you try to depict a product ten times better than it actually is, you end up misleading the consumer and eventually disappointing him. This only leads to poor sales performance and builds a very bad brand image. Honesty plays a crucial role here. A lot of consumers like simplicity, they want to know what is the product is about and how it will serve them. You can do face lifting to a small extent but not where the product is something totally different. You need to show the product in the finest manner possible and ensure you show all honesty in it. Remember that the consumers need to be treated in an appropriate manner at all times. 3. Be authentic: Character and originality need to be at the core of great brands and excellent packaging designs. There are numerous products in the market and every product is competing for the attention of the consumer. If you want to set yourself apart, you will have to be very authentic. Product packaging is a matter of creativity and it is not possible to create a fake impression based on the design only to sell the product. People have a number of brands to choose from, they have different appeals and looks to try. You need to remain authentic in your product design in order to ensure that your product design is memorable. Do not get on with a genetic-looking design. Look for strong visual standards and an uncommon style to appeal to the consumers. If you notice that most brands have a contemporary product design, opt for something retro. Be creative and always look for different options for your product. With more customers looking for eco-friendly options, Brad Zaikov from Jansy (https://www.jansypkg.com/) says that businesses that use biodegradable packaging will attract more customers. 4. Consider shelf impact: If you look at a product from the view of a consumer, you will notice that no product is ever seen alone. It is also not seen in exceptional detail. All the products are organized in columns and rows and there are numerous patterns and designs you see. Until a particular design or pattern catches your eye, you are not going to take a better look of the product. The appeal of a product when it is placed on a shelf is known as shelf impact and it will make a huge difference to the sales of a product. You need to check shelf impact and explore the designs. Do this by copying the placement of the design on a shelf and then surrounding it with different products. It will sell better if it looks good. 5. Keep space for extensibility: The idea of product packaging should leave space for the introduction of a new product or a new brand. There should be a possibility to make easy variations to the product without it losing its appeal. The initial design concept should not heavily rely on one product or one color. You might expand in the future or introduce a new product and you need to leave space in product designing for the same. Create a visual design that will allow for easy alterations in the visual of the packaging or will allow for easy addition or removal of information. 6. Practicality: Last but not least, practice is important when designing the packaging of a product. It not only deals with the label but deals with the shape, functionality, and size of the product you are selling. To get higher sales, the product needs to be more practical. A lot of business owners tend to overlook the aspect of practicality in packaging design because they think consumers are simply going to pick the product off the shelf without any thought. Unfortunately, this does not happen and consumers are looking for innovation. Practicality merged with innovation can solve a number of packaging design challenges. Product packaging is as important as product manufacturing. If you have an excellent and highly functional product to sell but if you do not spend enough time and effort on its packaging, you might never be able to reach out to the consumers. Packaging is your last opportunity to convince the consumer to purchase the product. Read Also: How To Pack Clothing Properly For Shipping Simple Packaging: Your Guide To Branded Design Make Sure Your Product Hits The Market As Soon As Possible 6 Shameless Examples Of Product Placement In Movies We’d Like To Forget

Corporate Hackathon: Benefits To The Employees

Hackathons are becoming a growing hit in the business world as a tool to encourage employee innovation and collaboration. A hackathon is an event where employees from different departments come together to work on specific projects. It is usually a time-bound event, ranging from a few hours to several days. The objective is to come up with creative solutions that businesses may use and leverage. Hackathon events offer various advantages to workers. In this post, we'll talk about a few of these benefits and how they might raise an organization's general productivity and efficacy. Virtual Hackathon Platform An online platform that allows businesses to hold hackathons remotely. Regardless of their geographical location, it offers a digital environment for participants to interact, share ideas, and work on projects together. Benefits of Virtual Hackathons Flexibility: Virtual hackathons can draw a more excellent range of participants from different locations. Businesses hosting a Corporate Hackathon where employees are globally located benefit from Virtual hackathon platforms. As it involves multinational teams, participants can work from anywhere with an internet connection. Scalability: Compared to physical events, virtual hackathons are not limited by venue capacity or logistical problems. Supports collaboration: This includes video conferencing, chat rooms, project management tools, and real-time feedback mechanisms. Exciting and engaging experience: It makes sharing ideas, working together, and building innovative solutions easier. In general, virtual hackathons offer a practical and effective approach to organizing hackathons. One of which is corporate hackathons. With a virtual hackathon platform, businesses can use the power of cooperation and creativity to advance their operations. How to Host a Hackathon at Your Organization? Set specific goals and objectives for your hackathon. Decide on a theme or problem statement to focus on. Invite participants from across your organization. Think about opening up participation to outside parties as well. Choose the right hackathon software to facilitate the event. Consider from idea submission and team formation to project management and presentation. Provide appropriate resources and support, such as access to technology, mentors, and refreshments. Encourage teamwork and communication amongst participants. Set realistic deadlines for the hackathon. Ensure that teams have enough time to develop their ideas. Plan for a post-hackathon review and feedback. Determine future steps to be taken. Benefits of Corporate Hackathons to Employees Advancement in the Workplace Corporate hackathons are an essential tool for the professional development of employees. Through hackathons, employees can acquire new skills and approaches that can help them advance in their careers. Here are some of the ways that corporate hackathons can promote professional growth: Exposure to new technologies: Participants can learn about new technologies and hackathon software, which can broaden their skillset and improve their problem-solving abilities. Project management: Hackathons often have tight deadlines, which can help employees learn to deal with pressure and improve their resilience and adaptability. Leadership development: Leading a project during a hackathon allows participants to develop their leadership abilities and hone their decision-making skills. Encourages Creativity and Innovation In today's fast-paced corporate world, it's easy for employees to get bogged down with daily tasks and lose sight of their creative potential. However, hosting a hackathon can provide a platform for employees to unleash their creativity and come up with innovative ideas. By using hackathon software, employees can collaborate and build on each other's ideas. Together, they can generate unique and novel approaches. This kind of environment creates a space where employees can think beyond their comfort zones. It allows them to push the boundaries of traditional problem-solving methods. Additionally, a hackathon can help identify the creative members of your team and encourage professional development in those areas. Example: A company wants to improve its customer service experience. Employees from several departments collaborate to enhance customer support's efficiency and engagement. One employee introduces gamification components to make the experience more interactive. Another employee suggests utilizing chatbots to respond to frequent consumer inquiries. Then the team combines these ideas and creates a prototype for a chatbot. This chatbot uses gamification to make the customer service experience more enjoyable. Advocates Cooperation and Teamwork Teamwork and cooperation are vital for a successful and productive workplace. Corporate hackathons provide an opportunity to promote these values and foster a collaborative culture. Corporate hackathons provide a platform for networking ideas. This exposure to various viewpoints and skill sets can lead to new solutions. Thereby, directing to a better understanding of business operations. Employee skill development is possible through this cross-functional cooperation. It promotes a culture of collaboration and knowledge sharing. For example, a developer may learn about the user experience from a designer, whereas a marketing employee may work with a software engineer and learn to code. The team-building component of a hackathon enables staff members to train in resolution techniques, enhancing interpersonal competencies. Employees can leverage their individual strengths to achieve a common goal. This saves time, considering the pressure of time constraints and the need to produce a functional prototype. Employees feel good that their ideas and contributions are acknowledged. They will likely have a positive attitude toward their work and the company. Favors inclusion and diversity. By encouraging participation, hackathons can help break down barriers and promote a more inclusive work environment. Boosts Morale and Motivation Participating in a hackathon can be a great morale booster for employees. They feel satisfaction in their work and a sense of success. Staff members are motivated to put in more effort and advance the company. Hackathons also provide employees with a break from their routine work. Staff members get to work on something different and exciting. This is helpful in reducing boredom and burnout. Increased job fulfillment and employee retention may also follow from this. Hosting a corporate hackathon demonstrates the organization cares about its employees' growth and creative potential. Creating a fun and exciting work atmosphere can increase employee engagement. Safe Space: Hackathons give workers a place to try out novel ideas and take chances without worrying about failing. Employees from discriminated groups who might be reluctant to speak up in traditional workplaces may find this beneficial. Summing Up Corporate hackathons are a remarkable resource for professional development overall. Corporate hackathons are a fantastic method to promote innovation and creativity among employees. They offer a distinctive setting for workers to cooperate and devise original answers to challenging issues. Employees can gain new talents, improve their interpersonal skills, and network with coworkers from various departments. It is a powerful tool for promoting a culture of inclusivity in the workplace. The benefits of hosting a corporate hackathon include professional development, innovation, collaboration, employee morale, and diversity and inclusion. Hackathon software has made it more exciting and enjoyable for participants. Moreover, hackathon software allows companies to make these events more accessible and streamlined. Hosting a corporate hackathon has advantages for businesses trying to stay competitive in today's fast-paced business world. Read Also: 5 Intelligent Sources to Boost Business Strategies all Over the World Are There More Doors Or Wheels In The World? Business To Business [B2B] Content Guide

Who Is An Intrapreneur? Definition, Characteristics, Pros/Cons, More

Who Is An Intrapreneur?

How Does Intrapreneurship Work?

What Are The Characteristics Of A Good Intrapreneur