Understanding Intrapreneurship

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Questions and Answers

Which of the following best describes intrapreneurship?

  • Starting a new business venture independently.
  • Acting like an entrepreneur within a company or organization. (correct)
  • Investing in external startups to foster innovation.
  • Primarily focusing on cost-cutting measures within a business.

Intrapreneurs typically bear the personal financial risk of failure in their innovative projects.

False (B)

Name three characteristics commonly associated with intrapreneurs.

Self-motivated, proactive, and action-oriented

One of the benefits of encouraging intrapreneurship is that it can lead to the success of the department or the ______ as a whole.

<p>company</p> Signup and view all the answers

Match each of the following descriptions with the corresponding term from the SWOT analysis related to intrapreneurship

<p>Training programs offered to employees = Strength Potential layoffs or benefit cuts = Threat Opportunities for promotion within the company = Opportunity Limited number of vacation days = Weakness</p> Signup and view all the answers

How is the approach to risk typically different between an entrepreneur and an intrapreneur?

<p>Entrepreneurs face higher levels of personal risk. (D)</p> Signup and view all the answers

A primary challenge for intrapreneurs is often securing external market credibility.

<p>False (B)</p> Signup and view all the answers

Name one advantage intrapreneurs have over entrepreneurs related to accessing resources.

<p>Company's resources</p> Signup and view all the answers

Unlike entrepreneurs, intrapreneurs typically operate within a given company ______ which can present its own challenges.

<p>culture</p> Signup and view all the answers

Match each role with the time constraints they typically face.

<p>Intrapreneur = Deadlines are given by the company Entrepreneur = No specific time limits</p> Signup and view all the answers

Which of the following is considered an 'Importance of Intrapreneurship'?

<p>All of the above (D)</p> Signup and view all the answers

Intrapreneurs focus solely on profit-sharing agreements to measure success.

<p>False (B)</p> Signup and view all the answers

Name two characteristics of intrapreneurs.

<p>Drives innovation, thinking outside the box.</p> Signup and view all the answers

A self-proclaimed '______' Ken Kutaragi, worked with Nintendo developers to make the PlayStation a reality.

<p>tinkerer</p> Signup and view all the answers

The original PlayStation idea was embraced from the start and quickly rolled out.

<p>False (B)</p> Signup and view all the answers

Match the activity with the type of entrepreneur

<p>Connected to a notion of addressing unmet needs within communities = Social Entrepreneur Act within government = Public Entrepreneur innovative ideas, non-traditional strategies to influence society = Policy Entrepreneur</p> Signup and view all the answers

What is the primary goal of a social entrepreneur?

<p>To implement widespread improvements in society. (B)</p> Signup and view all the answers

Social entrepreneurs do not need to be financially savvy to succeed.

<p>False (B)</p> Signup and view all the answers

Public entrepreneurs act within ______ and blend the roles of a public servant and an entrepreneur.

<p>government</p> Signup and view all the answers

Match the following concepts with their characteristic:

<p>Social entrepreneurs = People outside government Public entrepreneurs = act within government</p> Signup and view all the answers

Which is a limiting factor for public sector entrepreneurs?

<p>All of the above (D)</p> Signup and view all the answers

Government entrepreneurship does not pertain to social entrepreneurship.

<p>False (B)</p> Signup and view all the answers

What does NPS stand for?

<p>New Public Service</p> Signup and view all the answers

The New Public Management approach suggests that managers be more ______ and use business-sector, market-oriented principles to improve efficiency.

<p>entrepreneurial</p> Signup and view all the answers

Match the phrase with correct idea

<p>Eggers &amp; Singh = authored a guide for public sector innovation Innovation = come from internal or external</p> Signup and view all the answers

What is the first step in policy entrepreneurs strategy?

<p>Map political context (A)</p> Signup and view all the answers

A policy entrepreneur does not consider other people's opinions.

<p>False (B)</p> Signup and view all the answers

Who coined the term 'Policy Entrepreneur'?

<p>John W. Kingdon</p> Signup and view all the answers

For policy entrepreneurs, ______ is essential.

<p>persistence</p> Signup and view all the answers

Match the entrepreneur to their position:

<p>Paul Ellwood = Head of Interstudy Abe Bergman = Physician Ralph Nader = Consumer Advocate Pete Domenici = Senator Alfred Kahn = Head of Civil Aeronautics Board</p> Signup and view all the answers

Which of these options are defining features of policy entrepreneurship?

<p>All of the above (D)</p> Signup and view all the answers

Public entrepreneurs are also called private entrepreneurs.

<p>False (B)</p> Signup and view all the answers

How does New Public Service (NPS) differ from New Public Management (NPM) in its view of individuals?

<p>Citizens versus customers</p> Signup and view all the answers

Ralph Nader began a successful career pushing ideas about ______.

<p>auto safety issues</p> Signup and view all the answers

Match the type of entrepreneur with their definition.

<p>Private Entrepreneur = Anyone who whishes to gain profit for themselves alone Social Entrepreneur = Creates business primarily to help society or solve community-based problems Public Entrepreneur = Involving the government for the benefit of the locality/community Policy Entrepreneur = Influences policy makers for their personal gain/agenda</p> Signup and view all the answers

Flashcards

Intrapreneurship

A system that allows an employee to act like an entrepreneur within a company or organization.

Intrapreneurs

Individuals within a company who are self-motivated, proactive, and action-oriented, taking the initiative to pursue innovative products or services.

Advantage of Intrapreneurship

Using entrepreneurial skills within a company for the benefit of both the company and the employee.

Intrapreneur Characteristics

Employees who are self-starters, ambitious, and goal-oriented.

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Intrapreneurship Benefit

Allowing employees to use their entrepreneurial skills for the benefit of both the company and the employee. Giving employees the freedom to experiment, as well as the potential for growth within an organization.

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Intrapreneur

An entrepreneur who works while being associated with an organization, using company resources.

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Entrepreneur

The one who starts their own company and works independently, arranging for their own resources.

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Risk for Intrapreneur

The risk associated is typically minimal for these individuals

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Risk for Entrepreneur

The risk associated is typically bigger for these individuals

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Intrapreneur abilities

Able to resolve specific issues, leadership skills, thinking outside the box, taking risks, drives innovation, comfortable being uncomfortable, and able to interpret trends.

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Importance of Intrapreneurship

Innovate growth, new markets, employee empowerment, optimum human resource utilization, and economic stability.

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McDonald's Happy Meal Idea

An idea pitched by a regional manager (Dick Brams) for a new meal just for kids. Later rolled it out its first circus-themed Happy Meal.

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McDonald's Happy Meal Result

Has become so essential to McDonald's business and brand identity that 3 million Happy Meals are sold every day.

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The Post-It Note Idea

A 3M employee (Spencer Silver) invented a sticky adhesive and another employee (Art Fry) discovered when searching for a way to keep pages in his books.

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The Post-It Note Result

Realizing the product after realizing the potential to share messages around the office. They are now a huge success.

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Sony PlayStation Idea

Initially a project that garnered resistance, a junior staff member worked with Nintendo developers to make the PlayStation a reality.

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Sony PlayStation Result

Nintendo rejected the idea, but Sony Computer Entertainment (SCE) has become the company's most profitable business line.

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Starbucks Idea

The idea that Starbucks, founded in 1971 had a mission to become a "third place" to go, to provide a relaxing environment and experience for its customers. One barista started writing the names of customers on cups.

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Starbucks Result

The idea was shared with the corporate office and 'first-name' approach became a standard. The company has since launched designated advertising efforts to promote this personalized touch.

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Social Entrepreneur

A person who pursues novel applications that have the potential to solve community-based problems.

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Goal of Social Entrepreneur

The main goal is not to earn a profit, but rather to implement widespread improvements in society, still being financially savvy to succeed in their cause.

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Examples of Social Entrepreneurship

Microfinance institutions, educational programs, providing banking services in underserved areas and helping children orphaned by epidemic disease.

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Social Entrepreneurship Purpose

To connect you to your life's purpose, help others find theirs, and make a difference in the world, all while eking out a living.

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Public Entrepreneurs

Act within government, blend of being a public servant and an entrepreneur.

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Limiting Factors in Public Sector

Multiple, ambiguous, hard-to-measure goals, hard-to-risk taxpayer money, limited managerial autonomy, short-term budgeting, bureaucracy, lack of incentives for improvement.

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Government's Social Entrepreneurship

Is the process of creating value for citizens by bringing together unique combinations of public and/or private resources to exploit social opportunities.

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New Public Management (NPM)

Was developed in the late 1980s to counter excessive government bureaucracy and hierarchy.

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NPM Focus

Managers be more entrepreneurial and use business-sector, market-oriented principles to improve efficiency.

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Ten NPM Principles

Catalytic, community-owned, competitive, mission-driven, results-oriented, customer-driven, enterprising, anticipatory, decentralized, and market-oriented.

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Benefits of NPM techniques

Would enhance flexibility, responsiveness, efficiency, and innovativeness.

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New Public Service (NPS)

Moves away from using entrepreneurial techniques from business.

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Key Principle of NPS

States that public administrators are not owners, but stewards of public resources.

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Public Sector Innovation Process

Idea generation, selection, implementation, and diffusion.

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Entrepreneurship

The process of designing, launching and running a new business, which is often initially a small business.

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Broader Definition of Entrepreneur

Ability to find and act upon opportunities to translate inventions or technologies into products and services.

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Policy Entrepreneur

Refers to an individual who takes advantage of opportunities to influence policy outcomes to increase their self-interests.

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How Policy Entrepreneurs Work

Innovative ideas, non-traditional strategies, to influence society, create opportunities, and promote desired policy outcomes.

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Policy Entrepreneur's Characteristics

Has a credential that allows their opinions to be heard over others, a large network of people with political influence, and persistence to be successful.

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Michael Mintrom definition of Policy Entrepreneur

Individuals who through their creativity, strategy, networking, and persuasive argumentation are able to bring new policy ideas into the open and promote policy change.

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Michael Mazarr definition of Policy Entrepreneur

Can be seen as the human embodiment of the social construction of policy. Advocates determined, for one reason or another, to fight inertia, the bureaucracy, opposing interests, and anything else in their way to get the idea through the window [of opportunity] and into law or policy.

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Political Entrepreneur

Someone (usually active in the fields of either politics or business) who founds a new political project, group, or political party.

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Study Notes

Intrapreneurship

  • Intrapreneurship allows an employee to act like an entrepreneur within an organization
  • Intrapreneurs are self-motivated, proactive, and action-oriented
  • They take initiative to pursue innovative products or services
  • An intrapreneur doesn't bear the personal cost of failure, as the organization absorbs losses

Understanding Intrapreneurship

  • Employees utilize entrepreneurial skills for their and the company's benefit
  • Employees get freedom to experiment and have potential for growth
  • Fosters autonomy, independence, and resolution-seeking
  • Employers benefit from encouraging intrapreneurship, contributing to departmental/company success
  • These employees are self-starters,goal oriented and ambitious
  • Intrapreneurs may take risks, handle multiple tasks, and seek new challenges
  • Intrapreneurship serves as a step towards entrepreneurship

Characteristics of Intrapreneurs

  • Able to resolve issues through increased productivity or cutting costs
  • Possess leadership skills and think outside the box
  • Are comfortable being uncomfortable
  • Driven by innovation and are able to interprete trends

Examples of Intrapreneurship

  • Dick Brams, St. Louis McDonald’s manager, pitched the Happy Meal idea in 1977.
  • Two years later, McDonald’s launched the circus-themed Happy Meal
  • Three million Happy Meals are sold every day, becoming essential to McDonald’s.
  • 3M's Spencer Silver invented a sticky adhesive
  • Art Fry, another 3M employee, found a use for sticky notes and together they developed the post-it note
  • Post-Its now generate ~$1 billion annually.
  • Sony junior staff member Ken Kutaragi worked with Nintendo to create the PlayStation.
  • Nintendo rejected the idea, but Sony Computer Entertainment (SCE) has become the company’s most profitable business line.
  • Kutaragi became CEO of SCE and "The Father of the PlayStation."
  • Starbucks, founded in 1971, aimed to be a "third place" for customers
  • One barista chose to write customer names on cups
  • The company launched advertising to promote this personalized touch.
  • This approach is used four billion times a year at 30,000 locations globally

Social Entrepreneur

  • Pursues novel applications with the potential to solve community-based problems
  • Takes risks and puts in efforts to create positive changes in society through their initiatives
  • Is interested in starting a business for greater social good and not just profits
  • The main goal isn't to earn a profit, but rather to implement widespread improvements in society
  • A social entrepreneur must still be financially savvy to succeed in his/her cause
  • Examples include microfinance institutions, educational programs, and banking services in underserved areas

Public Entrepreneurs

  • Public entrepreneurs act within government
  • Is a blend of a public servant and an entrepreneur
  • Future public servants must think and act like an entrepreneur
  • This includes – building new relationships, leveraging resources, working across sector lines and acting fast

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