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Encouraging intrapreneurship & corporate venturing - Coggle Diagram
Encouraging intrapreneurship & corporate venturing
Intrepreneurs
Someone developing new products or businesses & operating within a company that is not owned by them
Same as entrepreneurs but cynical about bureaucratic systems or manipulate system to achieve goals
more risk averse
Companies that are successful with internal corporate venturing
View venturing as a learning process, learning from success & failure
Distinguish between bad decisions & bad luck in failed ventures
Set agreed milestones in advance & check progress regularly, redirecting as necessary
Be willing to terminate the venture when necessary, rather than making further investments
Requirements for successful intrapreneurship
An intrapreneurial venture team
A high-level sponsor
Resources (time & money)
Tolerance of uncertainty & risk-taking
Reward (not necessarily money)
Stakeholders to be influenced
Early adopters
– contact early & influence
Advocates
– important to contact early & use
Positive fence-sitters
– not an immediate priority
Cautious fence-sitters
– not an immediate priority
Positive sceptics
– engage early & win support
Negative sceptics
– avoid their attention & involvement
The venture team
Multi-disciplinary with kills, knowledge & competencies to undertake project
Balance between creativity & project execution (HBDI)
Complimentary personal characteristics in their team roles (Belbin)
Belbin Team Roles
People
Coordinator – natural chairman
Team-Worker – coordinator
Resource Investigator – ‘fixer
Action
Shaper – self elected leader
Implementer - workhorse
Completer-Finisher – ‘worry-guts’
Thinking
Plant – source of ideas & vital spark
Monitor-Evaluator – ‘rock’
Specialist – source of technical knowledge
Corporate accelerators & incubators
Corporate accelerators are development programs often linked to resources (budget) & facilities like incubators
Aim is to facilitate rapid development of a project – conceptualization, prototyping, & business model development
Can be ‘open’ or company-only
Rules for the intrapreneur
Come to work willing to be fired
Get around orders aimed at stopping your dream
Be prepared to do anything to make your project work
Build a network of good people who are willing to help
Build a highly motivated but flexible team – the best
Avoid barriers - work ‘underground’ for as long as possible
Be loyal & truthful to your sponsor – build a solid relationship
Remember it is better to ask for forgiveness than permission
Be true to your goals, but realistic in how they can be achieved
Take ownership of the project – always persevere, no matter what
Manage expectations, never over-promise – promise less & deliver more
Show a few early wins with tangible deliverables
Set the parameters of what you do & how you do it
in other words change the rules of the game
