Innovation Comes from Intrapreneurs
Entrepreneur magazine|October 2021
Employees say they’re unhappy. Companies are struggling to navigate massive change. The solution to both? It’s creating a culture of intrapreneurship
FRANK THEODOREKOE

As you read this, many of the people on your team may be plotting their escape. A recent Gallup poll found that 54 percent of workers are “psychologically unattached to their work and company”—and that makes them very hard to rally to your cause. Across the American economy, those disengaged employees translate into billions of dollars of losses.

Why are they disengaged? Take your pick from a host of explanations. The pandemic inspired many people to reconsider their lives. Meanwhile, millennials are projected to make up 75 percent of the global workforce by 2025, and they have been known for a hyper-focus on meaningful work that aligns with their beliefs (which isn’t something every job offers). Now Gen Z is entering the workforce and exhibits strong entrepreneurial ambitions; when EY Ripples and JA Worldwide surveyed nearly 6,000 members of Gen Z who participated in JA programs, for example, it found that 53 percent say they aspire to run their own business within a decade.

In short: People want more control. They want to engage in more nonlinear thinking that allows for an expansive and creative way of finding solutions to problems. And if leaders want to engage these inspiring workers, and harness their energy and ideas, they will need to pursue a concept that is decades old—but that still hasn’t made its way into many company cultures.

It is intrapreneurship.

The term intrapreneur was coined in 1978 by Libba and Gifford Pinchot, the married founders of the consulting firm Pinchot & Company, and appeared in a white paper they wrote at the time. Today, a more concise definition has been offered by Sir Richard Branson: “An employee who is given freedom and financial support to create new products, services, and systems who does not have to follow the company’s usual routines or protocol.”

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM ENTREPRENEUR MAGAZINEView All

The Man of Action - Amitabh Kant

He’s not your regular Sarkari babu. He works even Saturdays to finish tasks and makes way for meetings that were due long. He has been the face startups recognize not just with Startup India and Make in India. Before he started working on these projects he has worked on successful campaigns like creating the image of India and states with the likes of “Incredible India” and “God’s Own Country” for Kerala, the state from where he passed the IAS cadre in 1980. He’s the one who’s has been known for the right branding at right time. He works to deliver or delivers for work. Even at the age of retirement, he seems to be gung-ho with not just his strong words but how can that be turned into action. This man has surely had a fool-proof plan. Amitabh Kant, CEO, NITI Aayog seems to know the pulse of the nation. His India branding was rightly timed. And now when the whole nation seems upbeat about startups and Vocal for Local, he has taken it to a different level by involving startups across India and states in the Make in India initiative. Looking at how he was moderating at Startup India by how he introduced startups in his classy way or how just like a class monitor he held all the joint secretaries answerable for the audience at large. Kant lives by the can-do attitude as he knows how to get things done. Here’s the Make in India man who’s also better known as the BFF of Startups.

5 mins read
Entrepreneur magazine
November 2021

Building the natural & organic food market in India

BHUPENDRA KHANAL, FOUNDER & CEO, KHANAL FOODS

4 mins read
Entrepreneur magazine
November 2021

Advances in Global Leadership

VIPIN GUPTA (PROFESSOR, TRUTH SEEKER, RESEARCHER, MOTIVATOR & AUTHOR)

2 mins read
Entrepreneur magazine
November 2021

Man(preet) in-charge

MANPREET SINGH, CAPTAIN, INDIAN MEN’S HOCKEY TEAM

3 mins read
Entrepreneur magazine
November 2021

Pressure to Succeed Translates into Stress for Entrepreneurs

HARSH MARIWALA, FOUNDER, ASCENT FOUNDATION

2 mins read
Entrepreneur magazine
November 2021

A Banker turned Techie

ARUNDHATI BHATTACHARYA , CHAIRPERSON & CEO, SALESFORCE INDIA

3 mins read
Entrepreneur magazine
November 2021

Meet the Real-me

MADHAV SHETH - VICE PRESIDENT, REALME AND CHIEF EXECUTIVE OFFICER, REALME INDIA, EUROPE & LATIN AMERICA

2 mins read
Entrepreneur magazine
November 2021

The Man Running Govt's Own Startup

DEEPAK BAGLA, MD AND CEO, INVEST INDIA

3 mins read
Entrepreneur magazine
November 2021

Making Legacy Businesses Powerful in a Digital World

SHASHI KIRAN SHETTY, FOUNDER & CHAIRMAN, ALLCARGO LOGISTICS

2 mins read
Entrepreneur magazine
November 2021

‘Wowing' The Users Since 2010

GIRISH MATHRUBOOTHAM, CHAIRMAN & CEO, FRESHWORKS

4 mins read
Entrepreneur magazine
November 2021
RELATED STORIES

The World Kodak Made

The tech giant of the 20th century changed the way Americans saw themselves and their country— and built the city where it made its home. Now Kodak and Rochester are trying to reinvent themselves, and escape their history.

10+ mins read
The Atlantic
July - August 2021

FOR THE LOVE OF A FILM ROLL

A QUEBEC PHOTOGRAPHER DECIDED TO IGNORE THE MODERN DIGITAL CAMERAS. INSTEAD, HE TURNED HIS EYES TO THE OLD FORGOTTEN CAMERAS. A SMALL ROOM INSIDE OF HIS HOUSE BECAME "THE DARKROOM."

10+ mins read
Lens Magazine
March 2021

Chasing the Milky Way... and a comet

A passion that can’t be pursued in the big cities

2 mins read
The Good Life
August 2020

SPYKE & MIKE

It’s unbelievable what has happened over the past few months, my BTR friends.

4 mins read
Born To Ride Florida
May 2020

Going a New Direction

For the last few years that I’ve written the Bench Tips column, I’ve focused on lapidary topics and projects.

3 mins read
Rock&Gem Magazine
March 2020

Sydney Carnita

Describe yourself in three words

1 min read
Playboy Sweden
December 2019

A Taste of the Road Less Travelled

The Lumix Travel and Food Photo Contest has received awe-inspiring entries from across the country. Here is a recap of the categories and the exciting judging process.

2 mins read
Better Photography
November 2021

GuruShots

We’ve joined up with online photo game GuruShots to print the winning images from the Dusk & Dawn challenge

1 min read
Photography week
August 26, 2021

The Bonhomie Of Nenmara Vallangi Vela

The season beckons to rejoice in the festive spirit and soak in the beautiful milieu of colors, fireworks, light, and art forms for a mesmerising and unforgettable experience.

3 mins read
Rishimukh
April 2021

Growing through adversity

Resilience should not occur in the face of adversity. One has to plan for it in advance, anticipating unexpected disruption.

4 mins read
Indian Management
February 2021