Page 44 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Unit 3: Entrepreneur v/s Intrapreneur

of urgency to perform better. Most importantly change agents are the “good consciousness” of Notes
the industry or organizations; their management decisions protect people.

Notes Generally a new idea is so ugly that only its mother could love it. Consequently, it
is unrealistic to think that people in Marketing will understand a research idea in its early
stages well enough to do valid marketing research.

Change agents fight for optimizing management environments by challenging every one below
and above the authority. True agents will have a communication system where uncomfortable
questions are asked and explored because they know how idea or management decisions are
shaped into efficient processes. Change agents raise expectations by seeking hire more capable
than they are. Change agents never compromise for their high standards. Great leaders have
encouraged the hiring the best in order to be the best.

Self Assessment

Fill in the blanks:
6. For an entrepreneur to survive in an organization he/she needs to be ………………. and
given adequate freedom to implement his ideas.
7. An entrepreneurial ……………… requires a constant generation of ideas.
8. Intrapreneurs ……………. the gap between inventors and managers.
9. ……………………… understand the needs and wants of the customers.

10. Change agents possess a ……………………. level that drives them to enhance core
competence and organizational capability.

3.3 Similarities and Economic Differences between Entrepreneur
and Intrapreneur

The spirit of entrepreneurship exists in within an organization. Intrapreneur is a person who
focuses on innovation and creativity and who transforms a dream or an idea into a profitable
venture, by operating within the organizational environment. Thus, Intrapreneurs are inside
entrepreneurs.

Entrepreneurs are builders of a society and create great influence. Many developing countries
owe their success to those entrepreneurs who despite their comfort working in a company
jumped out to build an enterprise to give jobs to other people and to help the nation. In India,
despite the fate of our economy there are still individuals who, not only pursues their own
entrepreneurial interest but helps budding entrepreneurs and encourage the youths to become
entrepreneurs.

Notes The entrepreneurs can be both the originators as well as value enhancer of a product
or service. The entrepreneur perceives opportunities that other business executives do not
see or do not care about. Say for example, Akio Morita, the President of the Japanese
consumer electronics giant, Sony, saw that his company’s existing products could be adapted
to create a new one – the Walkman Personal Stereo. Not only did he create a Walkman, it
is said that an entirely new generation was created, named as the “Walkman Generation”.

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