A company’s flexibility can be enhanced if employees are encouraged to develop a greater sense of responsibility as well as autonomous actions. They have to be thinking for themselves in order to actively shape the company’s future. Also, intrapreneurship is crucial in order for great corporations to outsource parts of their business as independent units to become small and medium enterprises (SME).
Intrapreneurship programs usually comprise bundles of specific measures that target the company as well as the individual employee. To foster intrapreneurship, management needs to provide a certain framework including a flat hierarchy, a candid culture of communication and information and effective incentive schemes. Employees need to be trained to internalise intrapreneurial virtues such as cost consciousness, customer focus and self-initiative.
Other innovation-supportive structures include:
– Convicting the team of the company’s vision and strategy
– Taking responsibility for goals and results
– Few but adequate bureaucracy and rules
– Allowing freedom of actions
– Being tolerant towards employees’ mistakes
– Transparency and participation in decision-making
The concept of intrapreneurship focuses the employees’ vigour on the process of innovation instead of enterprise routines. It also facilitates keeping employees with ideas ready to be founded in the corporation since they get the possibility to realise their ideas in relatively autonomous ways without having to become self-employed. Future spin-offs can then be considered within the corporate entrepreneurship strategy without the parent company having to back out of its influence.