The Two Types of Intrapreneurship
Many consider intrapreneurship as a form of research and development within a business. Intrapreneurs experiment with new ideas and push creative boundaries.
These experimental projects usually follow one of two directions:
“If you want something new, you have to stop doing something old.”
– Peter Drucker, Author of “The Effective Executive” (1966)
Linear growth intrapreneurship involves boosting operational efficiency, refining product design and enriching customer experiences to make incremental improvements.
Facebook’s infamous ‘like’ button was born from their very own internal innovation programme — a hackathon. This is an example of linear growth as the innovation creates value by adding a new dimension to the customer experience.
If Facebook stood still and remained a simple social network to connect college students, we wouldn’t be talking about them today.
Competitors will quickly catch up if your organisation rests on its laurels and fails to innovate.
Some intrapreneurs focus on side ventures which allow the company to enter new markets and diversify their product offerings.
Whether it’s a drinks company starting a Formula One team or an online book store selling Ebook Readers, spin-off ventures can diversify business portfolios in entirely new directions.
Creating spin-off ventures can build upon existing brand identities, established audiences, and economies of scope to enter new markets.
Discover how Pentland Brands helped the likes of Speedo, Ellesse and Lacoste create internal ventures which foster intrapreneurship and identify growth opportunities.
Spin-off intrapreneurship may also occur within academic contexts, where research innovations are commercialised. When university organisations commercialise their research, they’re 108 times more likely to ‘go public’ than non-academic competitors.
Check out our exciting work with quantum technology researchers from Imperial College London to create feasible entrepreneurial ventures.