Wednesday, February 5, 2020

Intrapreneurship Perception and Performance

By practicing intrapreneurship activities in well-established organizations, you will get very great chances and opportunities to lift up the organization to the next cycle of growth and maturity.

Corporate intrapreneurship has been recognized as a potentially viable, it is about creating new ventures from within established organizations to leverage the startup culture for catalyzing changes and inspiring innovation. It means promoting and sustaining organizational performance, renewal and corporate competitiveness.

Intrapreneurship is about balancing innovation with other organizational priorities: With continuous disruptions and fierce competition, innovation is the “must-have” unique competency of modern businesses. Thus, intrapreneurship is a good practice to catalyze innovation and unlock business potential. However, corporations often have limited resources, it’s important to balance innovation with other business priorities without too many distractions from strategy implementation. Prioritization brings transparency to the organization, and transformation enforces digital management disciplines. Corporations do need to prioritize. They also need a management process by which evaluation of those priorities occurs and through that process review new ideas, revisions or changes.

Intrapreneur leaders can add a new dimension of vision in making the right choice for balancing the business’s short-term gain and long-term win. They are able to explain the big why clearly, articulate the strategic rationale behind the venture, systematically address the innovation strategy agenda, encourage themselves and subordinates to practice out of the box thinking and bring fresh perspectives and new designs to delight customers and achieve high-quality results over a sustainable period of time.

Practicing intrapreneurship also means enterprises should get smarter and flexible in building unique business competencies: Highly innovative companies have the healthy appetite and leverage the emerging technologies such as the digital platforms and collaboration tools to break down silos, keep information and idea flow frictionlessly, make innovation easier to do now than in the past, less costly, more easily accessible, bring huge opportunities to reinvent business models and create new revenue streams.

Forward-thinking organizations cannot think in terms of single-thread serial actions alone nor can they give undue priority to areas that are covered by the tactical implementation of the innovation strategy only. It’s crucial to optimize budget and resources, build a balanced innovation portfolio with the right mix of incremental innovation and breakthrough innovation. The healthy intrapreneurship activities help engage employees, motivate people to solve problems in alternative ways, make sure there’s a steady flow of ideas flow in the pipeline, improve risk intelligence, and manage innovation in a structural way.

Leverage soft success factors such as culture, communication, and leadership to boost corporate intrapreneurship: Intrapreneur leaders can bring optimism to influence the organization’s culture, break down bureaucracy, idea bottleneck, linear knowledge box, or mono-color culture, facilitate cross-boundary communication and collaboration, encourage innovation, inspire positive substance and style. To boost corporate intrapreneurship activities, “Disruption” and “stimulation” are needed to first disrupt, and then reconstruct, integrate all critical business elements into unique innovation competency. In particular, soft success factors such as leadership, culture, and communication, etc, are critical to improving the success rate of innovation.

Furthermore, intrapreneur leaders often have balanced viewpoints to perceive success and failure objectively, such mental toughness will help an organization become more resilient and risk-intelligent, master intrapreneurship and accelerate performance. It’s important to build a process of a corporate pulse that helps to identify where the innovation passion, motivation, or commitment of the organization lies, and who embodies it.

Creativity at the "corporate" world has a lot to do with fostering a creative environment to disrupt outdated mindsets, systems, processes, cultures, business models, or practices. Creative disruption can lead to breakthrough innovation. Innovation can have brand effect as well if the large successful organizations once have established themselves as thought leaders and practice intrapreneurship activities fluently.

The heart of entrepreneurship is about changes, and organizations no matter large or small, all face unprecedented change, uncertainty, and accelerated business dynamics. Intrapreneur leaders are open-minded and confident to take the path perhaps no one ever takes before, and be resilient to fail fast and forward. By practicing intrapreneurship activities in well-established organizations, you will get very great chances and opportunities to change your organization in many fields and lift up the organization to the next cycle of growth and maturity.


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