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Intrapreneurship and Extrapreneurship Development of the global business and its forms and strategies brings new understandings to our lives. The new concept or notion is born every day. The two of the latest words in the modern business and economic language are: intrapreneur ship and entrepreneurship. The words are new, and there are no meanings for them in the classic dictionaries, however, having an idea about word structure we can say that it has something to do with entrepreneurship. Also the prefixes of the words suggest that they have something to do with inner or outer (respectively) understanding of ones development and economic activity. In this paper I will try to examine the terms of intra and entrepreneurship, discover their underlying meanings, and see what are the cases of their implication in practice.
The restructuring of modern business and corporate strategies has lead to something called corporate revolution. Today there is a wealth of popular business literature describing a new corporate revolution taking place thanks to the infusion of entrepreneurial thinking into larger bureaucratic structures. This infusion is referred to as corporate entrepreneurship (Kuratko et al. , 1993) or intrapreneur ship (Pinchott, 1985). Gifford Pinchott (1985) defined intrapreneur ship as entrepreneurship inside of the corporation where individuals will champion new ideas from development to complete profitable reality. Others have expanded this definition by including the need to recognize that entrepreneurial activities revolve around organizational sanctions and resource commitments for the purpose of innovative results. Pinchot believes that the decision to act intrapreneurial occurs as a result of interactions among organizational characteristics, individual characteristics, and some kind of precipitating event.
The precipitating event provides the impetus to behave entrepreneurially when other conditions are conducive to such behaviour. Speaking in general terms, intrapreneur or corporate entrepreneur is the one who develops a business idea that does not yet exist. In the beginning, the individual may be specialized in one area such as engineering, marketing, or research and development, but once the individual starts an intra prise, he or she quickly begins to learn all facets of the project. The corporate entrepreneur soon becomes a generalist with multi-skills. Contrary to intrapreneur ship, which we defined to be the ability of the company to utilize the entrepreneurship skills of its employees for the benefits of the company, entrepreneurship describes the situation when somebody else comes up with the idea of some product and service, and then sells it to some company. It might resemble the job of the consultant but the founders of Foster Chamberlain LLC say that consultants offer advice about how to develop new businesses, while the objective of entrepreneur is to identify and evaluate a business opportunity, and then launch it as well (Enbar, 1999).
Basically the difference between the terms of intrapreneur ship and entrepreneurship is just the approach the company takes when explaining the term. The first occurs when the employee of the company tries out something new and the company is reluctant to this activity, and entrepreneurship happens when the company is ready to experiment and even encourages entrepreneurial motifs of its employees (Brown, 2000). As we can see the two terms are quite confusing in their distinction. It is hard to define the approach that the company takes when considering entrepreneurship within, however, there is one thing that differentiates the notions. Extrapreneurship oftentimes implies the immigration of the talent. Entrepreneurs who move from one industry to the other can be seen as those who provide the creative ideas to others for their further utilization.
The new concepts of entrepreneurship in the forms of intrapreneur ship and entrepreneurship are soon to become parts of our everyday living and business. As discovered, the concepts are already well known; the only thing new about them is the way people decided to name them. Reference: Pinchott, G. , Intrapreneurship, New York: Harper and Row, 1985. Kuratko, D. F. , Intrapreneurship: Developing Innovation in the Corporation, Advances in Global High Technology Management-High Technology Venturing, 3, 3 - 14, 1993. Enbar, Nasa.
Can Extrapreneurship Become a Buzzword? December 14, 2003. Found at: web Brown, Robert J, Jeffrey R. Cornwall. The Entrepreneurial Educator. Lanham, Md: Scarecrow Press, 2000.
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