“Companies like 3M, Google, DreamWorks, and Facebook have in common that they’ve embraced the idea of allowing their employees to become inside-entrepreneurs, so-called intrapreneurs, and capitalised on new business ideas,” says Andreas von der Heydt, country manager at Amazon BuyVIP, in his post on LinkedIn.
Nurturing intrapreneurship is the key to success and growth, he says.
What kind of office environment do employers need to create and develop intrapreneurs? Von der Heydt suggests the following three strategies:
1. Reward risks.
“There needs to exist an environment where employees are willing to take risks. The risk tests and increases intrapreneurial conviction and drive,” he says. “It binds the corporation in an implied contract not to stop the intrapreneur for any reason other than poor performance. “
2. Provide funding.
If possible, employers should provide enough funding so that the intrapreneur doesn’t have to keep coming back to ask for more funding, he says.
3. Grant independence.
Employers need to give the employee-entrepreneur as much independence as possible. If he doesn’t have the creative space to work on his project, he will “rapidly loses his motivation and competency to run the project,” says Von der Heydt.
“What is needed more than ever is a free market entrepreneurship within organisations, headed by exceptional individuals willing and capable of leading an organisation’s business as it were their very own,” he says. “This would boost both the company’s growth and the individuals’ creativity, productivity, and satisfaction level.”
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