Intrapreneurship means the creation of new products and services, new organisational solutions, or new strategies within already established companies and organisations. Research shows that companies with a working culture of intrapreneurship are more profitable and grow faster than others. They are attentive to ongoing changes in the world and actively respond to both threats and opportunities. In addition, they are better at attracting and retaining talent.
Success factors for intrapreneurship
Successful intrapreneurship is based on three basic components: (1) a desire for renewal and risk-taking, (2) intrapreneurs, and (3) an organisation that systematically both encourages and receives new intrapreneurial initiatives.
It's quite self-evident that companies have to renew themselves at regular intervals, and that this renewal is based on risk-taking and intrapreneurs that drive change. What is less obvious is how the company creates favorable conditions for intrapreneurship. For this, the company's structure, reward systems at different levels, processes and organisational culture play a crucial role. The companies that understand and begin to work systematically to create the right conditions for their intrapreneurship are best equipped for a changing environment.
Intrapreneurship is a key issue for Sweden's continued competitiveness and therefore a cornerstone of IVA´s Entrepreneurship Academy.