Most progressive organizations view intrapreneurship as a way to develop and retain the best manpower they have and provide an entrepreneurial atmosphere within the organization itself. "The competitive nature of the business drives the intrapreneurial culture and the pace of business has multiplied as well - with growth opportunities available and a market size that is expanding. Also, Indian companies have started empowering people in the lower levels where true innovation can occur," says Anurag Jain, VP, services delivery, Dell Services. Three-dimensional thinking, persistence, good communication skills, team management and networking abilities are key traits, says Jain.
Thus, consider it to be an HR tool or an innovation tactic, intrapreneurship as a concept is here to stay and has made many friends already!
Pillai discusses critical factors that foster intrapreneurship
- Senior management commitment;
- Investment roadmap consistent with corporate and business strategy;
- Flexibility for reactive and opportunistic option creation;
- Institutionalized tool for growth and innovation;
- Talent retention and continuity.
Intrapreneurship will pave the way forward, says Bhavin Turakhia, CEO, Directi:
- Organisations need to make sure people are not afraid to fail. This fear will kill any and all possible innovation;
- Ask employees to openly discuss what they think your company does well and where improvements can be made. Have them talk about what changes they would make, then try to implement these changes as soon as possible;
- Create an in-house venture capital pool. Have people submit ideas and plans to it;
- Allow people to have some time to have fun. This is the type of environment where people will want to work and wherein they will be able to flourish.
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