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Unit 3: Entrepreneur v/s Intrapreneur

Dan Vermeer, who worked on Coca-Cola Global Water Initiative to develop Notes
solutions to water scarcity.

Regarding the support of the League of intrapreneurs, about 100 candidates participated
in the competition so far. Only the 15 best submissions were to form the first class of the
League of Intrapreneurs, becoming a member of the elite World Changemakers. These
presentations were also to receive media recognition and press. In addition, candidates
were to be presented in a publication as world intrapreneurs with innovative solutions. In
this league, the top four were to be featured on the blog of Fast Company, Co.EXIST and
receive advice from Accenture Development Partnership to strengthen their work.
Competitive solutions may include those that target:
Product innovation: socially and/or environmentally responsible product
development
Supply chain: innovative approaches to enhancing supplier or producer welfare;
reduction in social or environmental footprint

Human capital: processes or systems to harness employee talent and skills for
corporate change-making.

Business models: new models for reducing the environmental footprint of
consumption and increasing social prosperity.
Accenture and Micro World have their own partnership to develop intrapreneurship
spirit. Other firms has their own platform with Micro World with the same goal.
Source: http://www.microworld.org/en/news-from-the-field/article/intrapreneur-new-changemaker
Some of the greatest business leaders of the past century made their early mark in business as
intrapreneurs. Former General Electric chairman Jack Welch made a name for himself by building
GE’s engineering plastics business as if he were starting his own company. Lew Lehr, former
chairman of 3M, similarly built his career on his intrapreneurial pursuit of 3M’s expansion into
the healthcare industry.
It is essential to create an elevating and encouraging environment that provides talented and
entrepreneurial minded people the freedom to innovate, whilst at the same time supporting
them with the resources to quickly bring their innovations to market. For small-to-midsize
firms, innovation and speed-to-market are two ways to compete successfully against dominant
and well-entrenched companies. Creating, fostering, and sustaining the right environment really
are intrapreneurial imperatives.

Self Assessment

Fill in the blanks:
11. Entrepreneurs are …………….. of a society and create great influence.
12. …………………………. is the practice of entrepreneurial skills and approaches by or within
a company or at home.
13. Corporate ………………. is the sum of the values, customs, traditions and meanings that
make a company unique.
14. Intrapreneurship is a strategy for stimulating innovation by making better use of
…………………….. talent.
15. The entrepreneur perceives ………………….. that other business executives do not see or
do not care about.

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