The people closest to the business and the customers are the ones who can identify the problems that can unlock value for the organisation. Oftentimes while they are aware of issues, they do not have the framework to act on it and introduce something new.
Intrapreneurship or Open Innovation programs help build the framework within an organisation to provide the employees with the foundation to work on challenges that exist within the business or adjacent to the offerings of the business.
How it works
For an organisation that is looking to build intrapreneurship within its DNA, we start by working with the management team to identify the individuals who have the potential to contribute to the organisation. We grade them on entrepreneurial traits that are important for someone to lead a project and develop it to fruition all by themselves.
As a part of the foundation exercise, we will work to identify the nature and area of growth that the organisation wishes to unlock through these efforts. These can be quite broad but generally focus on –
- Reduced cost of conducting research and development
- Potential for improvement in development productivity
- Incorporation of customers early in the development process
- Increase in accuracy for market research and customer targeting
- Improve the performance in planning and delivering projects
- Potential for synergism between internal and external innovations
- Potential for viral marketing
- Enhanced digital transformation
- Potential for completely new business models
- Leveraging of innovation ecosystems
In addition to this, we will also help the organisations outline the method for taking an Intrapreneurial project that is experimental; graduating it into a full internal project and then launching it to the external world.
This framework will also help those who are pursuing such goals within the organisation identify clear milestones that they need to meet before they can bring their thoughts to the management and request resources.
We will take the selected team members through a foundational framework for Intrapreneurship 1.0. This will help them understand ways in which they can identify the problems and get started with working on a solution for the problem in an agile and frugal way without neglecting their day-to-day responsibilities.
For organisations that see a need to support their Intrapreneurs through the process, we provide an ongoing engagement with weekly check-ins with those who are working on potential projects and helping them untangle their thoughts and their approach towards identifying, establishing and proving their business case.
How you benefit
Every organisation is a treasure trove of ideas and if the team members are allowed to explore them and shine within the organisation it can have a dramatic and multiplicative effect on the growth of the company.
Many times, a lot of high-potential individuals are lost in the organisation to attrition because they see the problem and feel helpless to do anything about it and decide to either move on or start their venture. This situation can be completely avoided.
- On the one hand, such programs ensure that star employees see greater opportunities and remain in the organisation
- It opens the possibility of discovering new revenue streams for the company and the potential for growth
- It allows the company to experiment with possibilities without dragging management time and bandwidth into it