Intrapreneurship Promotion

Abstract

Intrapreneurship (entrepreneurship within existing organizations) is an important element in organizational and economic development. Large companies worldwide are on a journey to create organizational cultures, conditions, and processes that facilitate innovation and enable large numbers of employees to move from an ‘employee mindset’ to an ‘intrapreneur mindset.’ When companies make innovation and encouragement of intrapreneurship a part of their ongoing business agenda, a sense of psychological ownership is created among the employees with regard to their roles and responsibilities and the expectation that each employee is expected to innovate in his/her role is clearly communicated across the organization. This, in turn, ensures proper utilization of a company’s most important asset, viz., its people. Since harnessing the full potential of the workforce is absolutely vital for a company’s success, intrapreneurship development will definitely energize the employees. Previous views of intrapreneurship can be classified into four dimensions: (1) new business venturing, (2) innovativeness, (3) self-renewal, and (4) proactiveness. The present paper focuses on concept of intrapreneurship development in the organizations.