Page 112 - SBL Integrated Workbook STUDENT 2018

Chapter 10

Entre and intrapreneurship

5.1 The difference between entre and intrapreneurship

 An entrepreneur is an individual that ‘starts-up’ a business, is the
owner and take all of the risk of financial loss.

 An intrapreneur is an employee of the company and does not
usually have any ownership and minimum risk of financial loss.

5.2 Encouraging intrapreneurship

 Develop a culture where employees are encouraged to explore new ideas, even
if they are not related to their official roles.

 Develop a culture where innovation is valued and failure is not the final word.

 Managers should have open door policies.

 Removing administrative barriers and bureaucracy.

 Budget for resources to develop new ideas.

 Give employees a degree of ownership of new ideas.

 Try to identify intrepreneurs and give them more time and resources to develop
ideas further.

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