The word “intrapreneurship” is heard more and more often from different fields, and from Bros Group I’d like to share my vision and help to understand what is behind this word so fashionable in the business world.
To begin, I will start with a definition of the term:
“It’s about revolutionizing your company from within, as an entrepreneurial activity in the very heart of the organization in order to innovate or reformulate your business model.”
This responsibility was assumed by the I&D departments, but it has been shown that it is not enough, it is necessary that all the organizational talent participates in this change of “mindset”.
Large companies have support programs for entrepreneurs, some like Santander, Bbva, Mercadona … are good examples, helping to accelerate digitalization, internationalization or adaptation to new markets … but we also have other companies such as Nestlé or Unilever that are too big to be agile, and have decided to create “mini startup companies” within their organizations with their own teams, work on strategic projects, act with functional independence of the general organization chart, organize in a matrix form and generate an “internal speed” that allows innovative projects or business model changes.
This activity is increasingly more and more because the concern, especially in large companies, is the maximum, fear and quality of life in decision-making, in the generation of creativity and adaptation to new environments “learn agility “, more in such a global and competitive environment like the current one.
In traditional models, such as the financial industry, have seen the arrival of technology in a faster way. This trend is spreading to other sectors such as FMCG or any activity related to services, as most companies have already started intrapreneurship projects in the future.
My opinion is that intrapreneurship gets greater diversity and acceleration of ideas, and has to become an element in the business strategy that is part of the business plan.
I’m a fan of intrapreneurship. Professionally in my case, I have not been able to carry out an intrapreneurial career until three years ago given that in my previous professional stages I was working in large companies in which it was not possible to promote this practice and the companies were not be prepared for this revolution. We must also take into account that in recessive periods it is more difficult to implement the organizational changes that this revolution needs. Working in a startup environment, it’s possible to carry out different projects that could impact in the core of the company, with ambition for the business giants.
In any case, I believe that today it is possible in both large and small companies, supported by the figure of the CEO and the rest of the steering committee to encourage this business model.
If we carry out an analysis focused on Spain, I believe that is necessary to make an important mindset change, that little by little it is being achieved, although the companies that are betting the most on this model are multinationals (orphans with HQ abroad, in most cases) or companies related with technological industry that further foster this transition. SMEs began to worry about observing this practice from a short distance, but they have not yet managed to empower their internal talent to carry out this “internal revolution”.
To achieve the revolution, it is essential that the entire team is directly concerned and involved in this transformation.
Related to the impact that can have, is not only focuses on the development of internal talent. Sometimes it can impact in “the mission” of the organization, but sometimes is not enough to have a powerful impact only generating ideas not very innovative and disruptive for what the perception is that it is not only about ideas that could bring a little impact. However, empowerment to all members will make the impact be greater.
To get success in this transition it is necessary not to be afraid of a radical change and let the employees to be immersed in this type of projects being able to dedicate time of their day to day.
In the medium term, the benefits will come, working in this environment will be generated that will help to develop the internal talent generating greater engagement and improving competitiveness.
Intrapreneurship is a new key for success.