Let’s start with the term Intrapreneur and its difference from an Entrepreneur. An Intrapreneur is someone who takes action to improve business operations and they make sure businesses meet their goals while an Entrepreneur creates something new.

In other words, an Intrapreneur develops innovative ideas or projects to add benefits to the company’s future operations. An Intrapreneur may turn into an Entrepreneur over time.

But why are Intrapreneurs essential?

An Intrapreneur is adaptable as this person is always on the run to explore policies, technologies and applications that will make the performance of an existing company more efficient. Another trait of Intrapreneurs are their analytical skills and understanding of market trends that contribute to the planning of the company’s future. Due to their knowledge, they are always a few steps ahead of their competitors.

Furthermore, Intrapreneurs can bring forward major parts of a business such as growth, innovation, leadership, change and employee engagement. Innovation is the key to generate business growth while leadership is the key drive to successful innovation. However, the majority of leaders are not Intrapreneurial. The reason for this gap is that leaders act based on their past experience and facts. However, the uncertainty, ambiguity and the unknown that leaders face every day require an ad-hoc leadership style.

https://www.statista.com/statistics/266206/googles-annual-global-revenue/

Google is an excellent example for having an Intrapreneurial work culture. Google gives its employees a few hours a week to engage in innovative projects that they are interested in. Unsurprisingly, the success of Google can easily be correlated to their acceptance and implementation of an Intrapreneurial work culture. Google has around 135,301 employees and has a revenue of 181.69 billion U.S. dollars based on the annual report of 2020.

All in all, it is to be said that every company needs to develop an Intrapreneurial culture to have efficient internal procedures  and to provide its customers with a top-notch service in order to succeed in the future.

The lesson we can learn from this? That learning the Entrepreneurial skill set will allow you to be successful whether you are an Entrepreneur or an Intrepreneur! Want even better news?

You can learn EVERYTHING you need to know at Academy of Entrepreneurs!

Write to us at info@aetsudy.com to find out more.

Written by Kathrin Werder