Entrepreneurship in the work place Presented by: Samuel G Coates - PowerPoint PPT Presentation

Entrepreneurship in the work place Presented by: Samuel G Coates

What is the difference between an Entrepreneur and an Intrepreneur? � An Entrepreneur is someone who translates a creative thought into a new, innovative process, product, procedure, strategy or service � Entrepreneurs are risk takers who trust their potential Entrepreneurs are risk takers who trust their potential � They turn their creativity into reality by pursuing their dreams and transforming a vision into a strategic plan � They strike out on their own and build small businesses

What is the difference between an Entrepreneur and an Intrepreneur? � An Intrepreneur is someone who displays the same characteristics as an Entrepreneur, but remains with an organization as an employee � They generate enterprise for the organization rather than create their own small business

Both show quite similar characteristics such as: � 1. Innovative thinking � 2. Opportunity obsession � 3. Motivation to excel � 4. Creativity � 4. Creativity � 5. Self reliant � 6. Leadership � 7. Commitment � 8. Determination

Why should we encourage Intrepreneurship into our businesses? � It empowers and enables your employees to become "change agents" in your company � It stimulates innovation by tapping into each employee's entrepreneurial talent

Why should we encourage Intrepreneurship into our businesses? � It creates a culture for employees with good ideas to better channel your company’s resources to develop better products or resources to develop better products or services � Employees feels a sense of ownership

10 COMMANDMENTS OF AN INTREPRENEUR: � Come to work expecting to be fired � Circumvent orders aimed at stopping your dream � Do any job needed to make your project work � Network with those who can assist you � Network with those who can assist you � Build a spirited team-choose the best � Be loyal and truthful � Be true to your goals � Keep the vision strong � Work underground � It’s easier to ask for forgiveness than for permission

Striking the balance � How do we balancing the risks, rewards and opportunities with difficulties of implementing intrapreneurship in your implementing intrapreneurship in your company?

Striking the balance � Keep an open mind � Eliminate Corporate Bureaucracy � Embrace constructive failure � Embrace constructive failure � Share the Recognition � Break Established Patterns � Do It Now

� Conclusion � Questions & Comments