You’ve probably already heard of the term ‘entrepreneurship’ – this comes as no surprise, as countless studies and research have been conducted on this subject. However recently, a new term has been added to our business vocabulary and you just might have never encountered it before – at least not like this. Intrapreneurship. Intrapreneurship is a phenomenon whereby the intrapreneur leads an innovative business project (launching a new division, spin-off etc.) with the support of a host company and mentor.
The intra-prefix contains the key point of differentiation between intrapreneurship and entrepreneurship; more specifically, regarding the degree of autonomy required, the risks incurred and the expected benefits. The intrapreneurial approach increases the chances of success of the business project since it benefits from access to the technical, human and financial resources of the host company, as well as moral support. These resources are vital to any new project and are often lacking for start-ups, constituting a fatal flaw.
That being said – you will notice that many of the personality traits found in a successful entrepreneur are also found within intrapreneurs.
The graphic below gives us a visual comparison of the differences and striking resemblances between the entrepreneur and the intrapreneur.