Although the term Intrapreneur was created only in 1980s, the forward-thinking corporations relied on internal entrepreneurial efforts to alter an organization's status quo, connect the energies of talented employees, and give sponsorship to promising projects long before this specific period of time. The only problem was that companies could not compete with riches available to successful intrapreneurs who would start their own businesses. However, given the current market volatility and small chances to attract venture capital, intrapreneurs are likely to combine the best of entrepreneurship and corporate risk aversion when developing their ideas.
In order to prevent their employees from becoming their competitors, modern companies are devising ways to help intrapreneurs develop potentially lucrative products within the corporation. By providing seed capital to the promising projects, awarding successful intrapreneurs with stock options or guaranteeing a stable paycheck, companies manage to retain the brightest employees.
Employees who succeed as intrapreneurs tend to possess many of the same talents and traits as traditional entrepreneurs as well as a commitment to the organization and its goals. Working within an existing company—rather than launching an independent start-up business—offers a number of advantages to such individuals. Access to the company's resources increases their chances of success, for example, while maintaining a salaried position provides them with added security in case of failure. Intrapreneurs also gain experience that they can apply to future entrepreneurial ventures, as well as a stimulating work environment.
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Byrd, Jacqueline, and Paul Lockwood Brown. The Innovation Equation: Building Creativity and Risk-Taking in Your Organization. Pfeiffer, 2002.
"Intrapreneurship: Spinning Off a New Company." Inc., September 2000. Available from < http://pf.inc.com/articles/2000/09/20222.html >.
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