Intrapreneurship: A Strategy for Organization Renewal

Abstract

A wide range of organization nurtures Intrapreneurship within the Organization. Intrapreneurship has been used around the world by major companies for several decades. It can be effectively used to create a new product line or a new service, which can increase profitability and hence increasing their long-term success. Intrapreneurship is based on the concept of using entrepreneurial skills within an established firm by encouraging innovation with the help of employees. Intrapreneurs have all the same characteristics as entrepreneurs, like risk taker, an innovator and opportunity identifier. They are the employees who use innovative techniques within a firm to create new products or services from existing products or services, as well as create completely new innovative products or services for the company. The present paper attempts to consider the concept of intrapreneurship, within the organizations, adopting the case study method. It includes the cases of intrapreneurial actions of selected companies to describe about the intrapreneurship within the companies and how it helps the company to be sustained in the dynamic global environment through the innovative ideas. Based on the discussion, implication for future research is provided.