Story image

Intrapreneurship the new 'buzz word' for organisations

28 Oct 16

Intrapreneurship is the idea that individuals can, in some form, be encouraged to explore their own business ideas alongside their day jobs.

Recruitment company Hays positions it as the new buzz word in the corporate world, as businesses look to their staff for innovations.

“The advent of nimbler start-ups, particularly in the technology sector, that are capable of disrupting entire industries has forced organisations of all sizes to wake up to the need to develop new business lines and models,” says Nick Deligiannis, managing director of Hays in A/NZ.

“There’s also a growing realisation that such ideas might just emanate from staff themselves rather than being dreamt up across the boardroom table.”

Deligiannis explains that as well as the business benefits, intrapreneurship offers recruitment and retention advantages.

“Individuals are given the freedom to explore their own ideas without having to leave the organisation and are more engaged as a result,” he says.

“There’s also a strong attraction benefit, which can be hugely significant in sectors where talent is in demand.”

For any businesses looking to encourage intrapreneurship, Kenny Ching, assistant professor of Strategy at UCL School of Management suggest three approaches.

The first, is to formally incorporate intrapreneurial activites as part of performance-reviews. While the second is to employ more flexible schemes that allow would-be intrapreneurs to spend time away to develop ideas.

And, the third, is to “develop an informal culture that allows ideas to be safely discussed, with no repercussions on performance. For example, idea competitions,” says Ching.

“Above all though, an organisation needs a genuinely entrepreneurial culture that is embedded from the top down.” 

Report finds GCSB in compliance with NZ rights
The Inspector-General has given the GCSB its compliance tick of approval for the fourth year in a row.
Preparing for e-invoicing requirements
The New Zealand and Australian governments are working on a joint approach to create trans-Tasman standards to e-invoicing that’ll make it easier for businesses in both countries work with each other and across the globe
5c more per share: Trade Me bidding war heats up
Another bidder has entered the bidding arena as the potential sale of Trade Me kicks up a notch.
Hootsuite's five social trends marketers should take note of
These trends should keep marketers, customer experience leaders, social media professionals and executives awake at night.
Company-X celebrates ranking on Deloitte's Fast 500 Asia Pacific
Hamilton-based software firm Company-X has landed a spot on Deloitte Technology’s Fast 500 Asia Pacific 2018 ranking - for the second year in a row.
Entrepreneur reactivates business engagement in AU Super funds
10 million workers leave it up to employers to choose their Super fund for them – and the majority of employers are just as passive and unengaged at putting that fund to work.
Tether: The Kiwi startup fighting back against cold, damp homes
“Mould and mildew are the new asbestos. But unlike asbestos, detecting the presence – or conditions that encourage growth – of mould and mildew is nearly impossible."
Capitalising on exponential IT
"Exponential IT must be a way of life, not just an endpoint."