Intrapreneurship and the Approach to Innovation From Within · Entrepreneur vs. Intrapreneur BASIS...
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1 Intrapreneurship and the Approach to Innovation From Within Session # 404 , March 6, 2018 Sam Hanna, MBA, CISA, CBCP Professor & Program Director – Healthinformatics@GW The George Washington University
Transcript of Intrapreneurship and the Approach to Innovation From Within · Entrepreneur vs. Intrapreneur BASIS...
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Intrapreneurship and the Approach to Innovation From WithinSession # 404 , March 6, 2018
Sam Hanna, MBA, CISA, CBCP
Professor & Program Director – Healthinformatics@GW
The George Washington University
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Sam Hanna, MBA, CISA, CBCP
Conflict of Interest
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Sam Hanna, MBA, CISA, CBCP
Has no real or apparent conflicts of interest to report.
Conflict of Interest
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Agenda• What is Intrapreneurship?
• Building blocks for an “Intrapreneurial” venture
• Intrapreneurial Skillset
• Intrapreneur vs. Entrepreneur
• Key steps to a successful intrapreneurial venture
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Learning Objectives• Develop an understanding of the key concepts of intrapreneurship
• Differentiate between general skillsets and innovative skillsets required to be an “intrapreneur”
• Explain the difference between entrepreneurship and intrapreneurship and justify the differentiation
• Recognize the key steps to initiating and sustaining a venture inside an organization
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What is Intrapreneurship?
Intrapreneurship is acting like an entrepreneur within a larger
organization. Intraprenuers are usually highly self-motivated, proactive and action-oriented
people who are comfortable with taking the initiative, even within
the boundaries of an organization, in pursuit of an innovative product or service.
Intrapreneurship allows the freedom of experimentation
and growth in an organization. It fosters
autonomy and independence when studying every aspect of an issue and attempting to
find the best resolution.
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Building Blocks of Intrapreneurship
For Intrapreneurial ventures to thrive and to be sustained, the organization must:
• Know the employee and their drive, skills and motivating factors
• Frame the business problem
• Understand the risk tolerance
• Empower and get out of the way
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Intrapreneurial Skillset• Know and understand the internal environment. What are
the politics? Who are the decision makers and influencers? Etc..
• Always network. A key skill in raising awareness, building support and keeping your finger on the pulse
• Show data and metrics, along with rhetoric. Hard data and results about the venture trumps all the good feel pitch you can make
• Validate assumptions before you execute. Understand the environment you operate within and the value proposition
• Foster a learning culture. Always ask “Why” and take 360º feedback to improve
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Entrepreneur vs. Intrapreneur
BASIS FOR COMPARISON ENTREPRENEUR INTRAPRENEUR
Meaning Entrepreneur refers to a person who
set up his own business with a new
idea or concept.
Intrapreneur refers to an employee of
the organization who is in charge of
undertaking innovations in product,
service, process etc.
Approach Intuitive Restorative
Resources Uses own resources. Use resources provided by the
company.
Capital Raised by him. Financed by the company.
Enterprise Newly established An existing one
Dependency Independent Dependent
Risk Borne by the entrepreneur himself. Taken by the company.
Works for Creating a leading position in the
market.
Change and renew the existing
organizational system and culture.
https://keydifferences.com/difference-between-entrepreneur-and-intrapreneur.html
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Key steps to building and sustaining new ventures inside the organization
• Narrow and target the playing field. Set your scope
• Utilize and closely observe small samples
• Prototype business models to learn
• Track using non financial measures
• Give it time. Do not judge, but not indefinitely
• Something old, something new
• Balance staffing with maturity and innovation.
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Key steps to building and sustaining new ventures inside the organization (Continued)
• Envision the future
• Build some, acquire some
• Share responsibility for operating decisions
• Integrate the new venture but maintain autonomy
• Assign key sponsors
• Develop a handoff strategy
• Embrace new organizational models
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Questions
Sam Hanna, MBA, CISA, CBCPProgram Director, Masters in Management of Health Informatics & Analytics
The George Washington University
950 New Hampshire Ave. NW Washington, DC 20052
Cell – 617-794-0320
Twitter - @thinksamhanna
