BUSINESS RESEARCH

Leading Entrepreneurial Innovation

Leaders of well-established organisations are engaged in a market war to innovate faster and smarter than ever before. But even when companies are staffed with enthusiastic teams willing to generate ideas, “intrapreneurship” (entrepreneurship inside of companies) often disappoints. In fact, intrapreneurship projects in big companies fail between 70% and 90% of the time.

Share
July 2015

Even when companies have the foundations for an innovation ecosystem, intrapreneurship is still all about people, process and politics. Research on entrepreneurial behaviours and mindsets shows that to kick-start intrapreneurship, follow four steps:

  1. Find your desire: Without strong personal motivation to step into the unknown, the chances of success are almost non-existent. Curiosity is a start, but it won’t help you win. And if all you have is “just a good idea” that you don’t personally care about, stop considering it.
  2. Know what you’re willing to invest to take the first step: Companies tend to think in terms of expected returns, which halts most initiatives before they even begin. Entrepreneurs, on the other hand, think about acceptable loss (“what can I afford to lose if the next move doesn’t turn out as planned?”). And whereas entrepreneurs focus intently on managing financial capital, would-be intrapreneurs must focus more on managing inside social capital, i.e. relationships and social standing with colleagues and superiors.
  3. Decide who you can bring along with you: Actively look for employee partners and supportive bosses as you build a marketplace and political support for your budding idea.
  4. Start to act: Use the iterative Act-Learn-Build cycle, i.e. immediately build your next step on what you just learned and achieved. Forge the habit of “acting your way into the future” with low-cost, low-risk steps and by using the means you have at hand.

Sources: Altringer, B. (2013) A New Model for Innovation in Big Companies, HBR, Nov 19; Felício, J., Rodrigues, R., Caldeirinha, V. (2012) The Effect of Intrapreneurship on Corporate Performance, Management Decision, 50(10), 1717-1738.

Referenced techniques

Technique

Intrapreneurship

The concept presents the history of intrapreneurship which dates from 1985 and reviews its two main approaches, along with implementation steps and success factors.

Technique

Innovation Management

The concept determines the critical factors of innovation management. It reviews the managerial practices of successful innovators and summarises the strengths and limitations of innovative approaches.

Technique

Entrepreneurship

Entrepreneurship is a highly relevant concept for those leading and working in organisations and not just those starting new ventures. This concept covers technology, creative and social enterprise dimensions and introduces the types and main principles of entrepreneurship. The creation of an entrepreneurial culture is also addressed.

Leaders Edge Magazine Image
Subscribe for free to:

The Leading Edge

Join thousands of leaders benefiting from their bi-monthly copy of The Leading Edge on topics like Leading Entrepreneurial Innovation, to keep themselves at the cutting edge of leadership and management thinking.

Your subscription could not be saved. Please try again.
Your subscription has been successful.
Testimonials

Trusted by over 200 organisations

2000+ people are already learning with KnowledgeBrief

"We’ve just gone through annual reviews and if I look at ratings from last year to this year, we have more excellent performers in our leadership team."

Coventry and Warwickshire Mind

"As the line manager of a senior team member enrolled in the Senior Leader apprenticeship, I've witnessed firsthand how the functions, skills, study elements, and learning have enhanced the knowledge of the individual. "

ManpowerGroup

"KnowledgeBrief are best in class for their Leadership and Management training, highly professional and extremely knowledgeable coaches"

Wiltshire Council

"My Apprenticeship through Wiltshire Council with KnowledgeBrief has enabled me to have a wider understanding of management principles. The guidance given was invaluable to enable me to obtain my chartered management qualification with Distinction."

Wiltshire Council

"Throughout the course, I was guided and supported by skilled Personal Learning Advisors and attended informative workshops. By gaining my CMI qualification in leadership & management, I have been able to advance my career to the next level in management."

AVIS Budget Group

"They are incredibly easy to work with and focus entirely on what’s required for success in your organisation and for your employees."

CLIC Sargent

"I would recommend KnowledgeBrief to any organisation looking for impactful leadership and management training. "

AVIS Budget Group

"In every aspect of our relationship with KnowledgeBrief, from sales to accounts and the Professional Learning Advisors, we encounter passionate and engaged people."

Tata Chemicals Europe

"The benefits the programme brings to you in your role, and throughout the organisation are incredibly valuable. I would recommend the Level 5 to anyone in a management or leadership position."

Flogas

"It doesn’t matter what stage you are at in your Leadership or Management career, a Level 3 or 5 course will make you a better leader."

Equip your employees with the skills to increase results

If you would like to discuss how we can create your Leadership and Management Training Programmes, please get in touch