HRegatta Jan 2014 | Page 4

A CULTURE OF INTRAPRENEURSHIP ENCOURAGES CREATIVITY ACCOMODATES MISTAKES Intra-Entrepreneurial Cuture The New Way Forward Are we ready to be disrupted from within to avoid disruption from beyond? I ntrapreneurship is a term used to describe entrepreneurial activities taken up by employees within an organization during the course of their employment for the benefit of their employer. Similar to an Entrepreneur, an intrapreneur is capable of spotting an opportunity in the market and works towards exploiting the same for the benefit of the firm, on his own or as a small group. Such initiatives can enable organizations to sustain their competitive advantage in business settings that are increasingly being characterised as uncertain. One of the biggest challenges for HR managers nowadays is to crack the code of retaining high performing competitive individuals. Intrapreneurship emerges as strong anti-dote for this conundrum. Intrapreneurial individuals highly value independence to work and recognition/rewards for their achievements. They like challenges and prefer to keep themselves busy in solving newer and more complex issues that bother the business. They find fulfilment in accomplishing tasks that have never been tried before (at all or in the context of the business) and claiming recognition for their achievement not just in monetary terms but in terms of more opportunity and more autonomy to work as an Intrapreneur. In a poetic sense, Intrapreneurs are the counter-force nursed by firms to counter the onslaught of disruptive entrepreneurs backed by venture capitalists in a flat business world. 4 • Designfreebies Magazine • www.designfreebies.org