The main difference between Entrepreneurship and Intrapreneurs that the entrepreneur is an employee and an Entrepreneur is independent and is the leader of the operation.
Entrepreneurship is a concern by people working in that organization.
Hisrich and Peters define. “Entrepreneurship is entrepreneurship within an existing organization”.
The definition means that the new initiatives, creativity, and mobility, which enhances the organizational capacity, is entrepreneurship.
Skinner and Evanswitch observe, Entrepreneur is an entrepreneur who is encouraged by a corporation who is encouraged to be innovative and creative. ‘
Expats suggest that IntranPrennership is a thoughtful and constructive initiative by a person working in the organization that ultimately ensures organizational success, progress, competitive edge and market stability.
Therefore entrepreneurs are usually found in enterprises who encourage experimentation, bear failure, recognize success and share wealth.
Thus, it breaks the gap between science and the market.
Businesses are facing hyper-competition today. They need an entrepreneurial spirit to bridge the gap between market demand and productive capacity of the organization.
In this way, to maintain the organization successfully in the competitive market, creativity and innovation have to be increased.
Differences between Entrepreneurship and Intrapreneurship
|Points of difference||Intrapreneurship||Entrepreneurship|
|Definition||Intrapreneurship is the entrepreneurship within an existing organization.||Entrepreneurship is the dynamic process of creating incremental wealth.|
|Core objective||To increase competitive strength and market sustainability of the organization.||To innovate something new of socio-economic value.|
|Primary motives||Enhance the rewarding capacity of the organization and autonomy.||Innovation, financial gain tad independence.|
|Activity||Direct participation, which is more than a delegation of authority.||Direct and total participation in the process of innovation. _|
|Risk||Hears moderate risk.||Bears all types of risk.|
|Status||Organizational employee expecting freedom in work.||The free and sovereign person doesn’t bother with status.|
|Failure and mistakes||Keep risky projects secret unless it is prepared due to high concern for failure and mistakes.||Recognizes mistake and failures so as to take new innovative efforts.|
|Decisions||Collaborative decisions to execute dreams.||Independent decisions to execute dreams.|
|Whom serves||Organization and intrapreneur himself.||Customers and entrepreneur himself.|
|Family heritage||May not have or a little professional post.||Professional or small business family heritage.|
|Relationship with others||Authority structure delineates the relation.||A basic relationship based on interaction and negotiation.|
|Time orientation||Self-imposed or organizationally stipulated time limits.||There is no time-bound.|
|The focus of attention||on Technology and market.||Increasing sales and sustaining competition.|
|Attitude towards destiny||Follows self-style beyond the given structure.||Adaptive self-style considering Structure as inhabitants.|
|Attitude towards destiny||Strong self-confidence and hope for achieving goals.||Strong commitment to self-initiated efforts and goals.|
|Operation||Operates from inside the organization.||Operates from outside the organization.|
The word “intrapreneur” first appeared in the 1980s when management consultant Gifford and Elizabeth Pinchot wrote ” Intrapreneuring ” Why You N Contract to Be Corporation to Be an Entrepreneur”. In this book, he defined Intraprenior as the “dreamer”. Those who take responsibility for making any kind of innovation within a business. “
Although the word has been a part of the business world for decades, there is some confusion about how entrepreneurship is related to entrepreneurship and vice versa. Whereas both words are different, in practice, there are similarities and advantages of both approaches.
What is an Intrapreneur?
The central difference between entrepreneurs and intrapreneurs is the setting in which they work. Investopedia explains, “An intrapreneur is an entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial skills without raising the risks associated with those activities,” Investopedia explains.
In many cases, intranPaners are capable of working on a particular project that promotes innovation within their organization. Another important difference is that entrepreneurs do not take the same risk to entrepreneurs because they work within a company rather than their own leading ventures.
According to Investopedia, “An entrepreneur is a person who runs a small business, rather than working as an employee, and offers all the risks of good or service offered for a given business venture, idea, or sale And rewards the awards. ” Entrepreneurial skills to start a new project or initiative within your organization.