The board members contact you directly and explain that they are excited about the new product/service idea you proposed to them last week. They are certain that they made a good decision in appointing you as the chief creator for the company's revolutionary new product/service. They also explained that to pursue the new product/service you proposed, they need you to prepare a report discussing the impact of intrapreneurial activities within an existing organization's culture, resources, personnel, and operations.
For this assignment, you must submit a report in which you discuss the impact of intrapreneurial activities within an existing organization's culture, resources, personnel, and operations. For full credit, you must address the following in your report:
Briefly discuss intrapreneurship and entrepreneurship.
Research an existing organization/company that has used intrapreneurship or entrepreneurship in its development of a new product/service.
Discuss the existing organizations/company's new product/service.
Discuss the impact of intrapreneurial activities within an existing organization's culture, resources, personnel, and operations.
Discuss some different challenges an entrepreneurial organization might face when bringing a new product to market.
Discuss and champion one approach to advance a new product idea within the culture of a large corporation that deals with specific issues of culture, power, and resources.
Reference all sources using the appropriate APA format.
//Competition led to continuous changes and this it is an ongoing process in the business organizations which are involved in the process of product developments. Different approaches are adopted by the organizations to develop new products. In this regard, two approaches of innovations namely entrepreneurship and intrapreneurship are summarized in the initial discussion of the paper under the given heading.//
Intrapreneurship and Entrepreneurship:
In the present scenario, it is very difficult for the organizations to sustain and gain the competitive advantage. New product development by the business organizations has increased the competition. It has changed the whole business perception. Two approaches through which business organizations put forth their innovative ideas for the product development are Intrapreneurship and Entrepreneurship. Entrepreneurship is linked with the establishment of a new organization or starting a new business within the organization. This results into the development of new products or innovation in the existing product. High level of risk and uncertainty are associated with this approach. On the contrary, Intrapreneurship involves every individual of the organization who is responsible for bringing new and innovative changes in the business. It can be said that intrapreneurship is the practice of employees within the organization for channelizing the practices of enterpreneur (Pinchot & Pellman, 1999).
//After having a good understanding of the basic terminology related to the entrepreneurship and intrapreneurship, the further discussion includes the comparison of the entrepreneurship with intrapreneurship. In addition to this, the intrapreneurship or entrepreneurship practices adopted by business organizations for developing revolutionary product are also summarized in brief.//
Intrapreneurship in 3M Corporation's
Intrapreneurship is very important for the economic growth of an organization. It provides a direction for purposeful search of the sources that can help in determining the areas of opportunity within the organization. There are many organizations, which have created culture of motivation and empowerment to foster the intrapreneursim. It is a key factor of an ...
The response addresses the queries posted in 1276 words with references.