Entrepreneur Vs.

Interapreneur

By:- Ankita Sood IT & Telecom 13096

What is your definition of an Entrepreneur?

Entrepreneur
An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.

Contd
Who manages different factors of production for doing any productive activity. Develop a new product. Develop a new market. Discovers new sources of supply and material.

What is your definition of an Intrapreneur?

Intrapreneur
A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation. Employee within the organisation who have entrepreneurship skills. Who works in the organisation and put his innovative ideas in the organisation. Do not take the risks and accountability associated with entrepreneural activites. Operate within the confines of an organization.

Defined as
Intrapreneurs are dreamers who do, those who take hands-on responsibility for creating innovation of any kind within an organization. Gifford Pinchot The intrapreneur is an essential ingredient in every innovation. Dr.
William Souder

Common Characteristics
Results driven Ambitious Creative Original Self Confident Risk Tolerant Persistent Influencing High Energy Action oriented Interpersonal Innovative

Misdiagnosed Characteristics
Ambitious over zealous Creative does not follow guidelines Persistent pushy Self confident cocky Innovative dreamer High energy high strung Risk Tolerant bends the rules / challenges the system

Quick Triva Question

Do you know the difference between a entrepreneur and a intrapreneur?

Difference
Entreprenure Employer Returns are higher Risks are higher Build all of themselves Doesnt get support organisation Intrapreneure Employee Returns relatively low Without any risk Selected by a corporate hierarchy Get support from primary

Why should organizations embrace intrapreneurs?

Innovation
To create and bring into use profitable new products, processes, services, and ways of doing business.
Creation of new or alternative products Opening of a new market Capture of new sources of supply

Intrapreneurial Activity
Spotting ways to improve service Save time, money, or make life easier Visualizing variations of current products / services Realizing new communication avenues with customers Enhancing the quality New ways to get the job done quicker or smarter

How does Business benefit?

Firms create competitive advantages by discovering new and better ways to compete in an industry and bringing them to market

How do Intrapreneurs benefit?

Flexibility Less restrictions but supportive environment Recognition Their ideas are vehicles towards advancement Increased value to organization - increased PAYCHECK

What keeps most people from becoming entrepreneurs?

Funding Manpower Strong backing Branding/Marketing Fear

Some successful Entrepreneures

1. Steve Wozniak - Apple Computers.
Got interested in science and technology in 4th grade. Created 1st PC in 1977 1977, Jobs and Wozniak started a company which began in a garage. Jobs sold his Volkswagen van and Wozniak sold his programmable calculator to raise $1,300 Weeks later- 1st sale, 50 Apple I computers at $666 each In 6 years Apple was listed in Fortune 500.

Some successful Entrepreneures

2.Bill Gates Microsoft
Discovered his interest in software and began programming computers at age 13. Chief software architect of Microsoft Corporation. Employs more than 55,000 people in 85 countries and regions. Donates rigorously to charities.

Managers turned Intrapreneures.

1. Prakash Iyer
In 2004 vice-president in Pepsi China. Got a call from ICICI Venture to run Infomedia.

2. Rajat Jain
Quit Walt Disney as MD to join M2W as CEO and MD.