You never know where good ideas will come from...
Did you know that the 'post-it' idea was developed by an employee called Art Fry, image below, a worker in the 3M company, in 1974 and launched officially in 1977?
Intrapreneurship is a strategy for stimulating innovation by making better use of the entrepreneurial talent that exists within a company, it alters an organisations status quo and harnesses the energies of talented staff members. An intrapreneur is an employee working within a business who shows enterprise. He/she uses their flair, drive and initiative to think of new ideas to help the business develop and improve.
It is essential to create an encouraging environment that provides talented and entrepreneurial minded people the freedom to innovate, whilst at the same time supporting them with the resources to develop their ideas.
For intrapreneurship to work effectively, several important considerations should be taken into account:
- Listen, Always Listen
Intrapreneurs above all else thrive on the freedom that fuels their desire to innovate.
For intrapreneurship to flourish in an organisation, leadership has to be willing to listen to and recognise good ideas whenever and from whomever they arise. This message must be constantly reinforced from the highest levels of the organisation.
For intrapreneurship to flourish in an organisation, leadership has to be willing to listen to and recognise good ideas whenever and from whomever they arise. This message must be constantly reinforced from the highest levels of the organisation.
- Cut the Red Tape
It is important to create an environment where anyone can come forward with an idea on how to improve any aspect of the business. It should not matter where that person works in the company. If the idea is good, and the benefits and risks are clearly stated, then the idea should get the green light. There should be a business approval process, but it should be efficient. Projects that deserve support should be quickly developed.
- Need for Speed
Companies can foster and encourage potential intrapreneurs by sending the message throughout the company that a case properly presented and thought through ideas are always welcome. The process must be simple and flexible enough to move quickly. Most success stories are built on a succession of minor failures. Companies must strive to provide a “freedom to fail” culture and environment; there should be no penalty for those who come forward with good ideas.
- Share Credit
Harry Truman (former US President) once said, 'It is amazing what you can accomplish if you do not care who gets the credit.’
The company needs to make sure credit goes where it is due, and to share it widely. If credit is given to the source of the idea that person becomes even more eager to offer better future ideas and everyone else in the company is encouraged to follow their lead. No one ever succeeds alone.
- Look Forward to Breaking Old Rules
A company should never say, “We’ve never done it that way before,” or “that’s not how we do things.” Sometimes it’s best, and even necessary, to break with past traditions and establish new rules to respond to new opportunities.
- Ignite Intrapreneurs
To start a revolution of initiative and innovation, ignite the intrapreneurs and then get out of the way! Lift off generates a lot of heat. And a lot of fun, too!
Ignite. Fire up! Get out of the way!
