17264 Narayanasamy P.S et al./ Elixir Human Res. Mgmt. 61 (2013) 17264-17265
|Available online at www.elixirpublishers.com (Elixir International Journal)|
|Human Resource Management|
|Elixir Human Res. Mgmt. 61 (2013) 17264-17265|
Entrepreneurship versus Intrapreneurship
Narayanasamy P.S* and M.Sathya
V.L.B Janakiammal College of Arts and Science, Coimbatore.
Article history: This paper highlights the review of theoretical studies on the concepts of entrepreneurship Received: 8 April 2013; and intrapreneurship; underline the similarities and differences between them.
Received in revised form: Entrepreneurship continues to thrive in almost all corners of the world. Entrepreneurs are 14 August 2013; reshaping the business environment, creating a world in which their companies play an
Accepted: 24 August 2013; important role in the vitality of the global economy. But there is not always necessary to establish a company in order to implement new ideas. A great potential lies in applying
Keywords business principles within existing organizations.
Edntrepreneurship, © 2013 Elixir All rights reserved
Business environment, Enterprises.
The concept of Entrepreneurship and intrapreneurship has appreciable change in nature and content over the years. It is no longer considered an assortment of all sorts of arbiter facts and figures to choose from. The increasing competition hinders our work. It does not suffice anymore to stand before our competitors simply driven by our will of competing; we have to bring something new to the market. Entrepreneurs and intrapreneur play a prominent role as they help the company to engage in new business and enter new markets. The concept of entrepreneurship is seen as the process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either human resources or the location of the entrepreneur – in a new or existing Enterprise. The other hand both are contributing to individual, socio economic and national development.
Who is an Entrepreneur?
The entrepreneur is an important input of economic development. He is a catalyst of development. A good entrepreneur ship is one who is capable of inspiring confidence in people and has the ability to motivate them to work with him in fulfilling the economic goals set by him.
The word of entrepreneurs denotes in many ways (i.e.)
Entrepreneurs who are visionaries
Entrepreneurs who are optimistic
Entrepreneurs who are empowering people
Entrepreneurs who care for the society
Entrepreneurs who have the human values
Entrepreneurs who are dynamic
Entrepreneurs who follow good strategies Leadership as Laddership:
Management is efficiency in climbing the ladder of success, leadership determines whether the ladder is learning against the right wall. Leon walrus, the theory of social wealth (1954) pointed out that entrepreneur is the coordinator of basic factors of production. He treated “entrepreneur “as the four factor of production who combines other factors such as land labour and capital.
© 2013 Elixir All rights reserved
Who is an intrapreneur?
Intrapreneur and entrepreneurs is essentially the same thing. Having either title requires that an individual be remarkably innovative, patient and resourceful. Both types of “preneurs” must be willing to be inventive and take risks.
According to American heritage dictionary, “A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation”. Intrapreneurship is now known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques that are more traditionally thought of as being the province of entrepreneurship.
According to Entrepreneurial dictionary, Intrapreneurship refers to employee initiatives in organizations to undertake something new, without being asked to do so. “Hence, the intrapreneur focuses on innovation and creativity, and transforms an idea into a profitable venture, while operating within the organizational environment.
After seeing the Advantages and the dis advantages of each concept we think that it is useful to see also the similarities and differences between these two concepts. Morris & Kuratko (2002) are of the opinion that the literature is sometimes confusing in underlining what exactly makes an entrepreneur different from an intrapreneur and what they have in common. This is why they point out a serious similarities and differences:
Entrepreneurship and intrapreneurship: similarities Both involve opportunity recognition and definition.
Both require a unique business concept that takes the form of a product, process, or service.
Both are driven by an individual champion who works with a team to bring the concept to fruition.
Both require that the entrepreneur be able to balance vision with managerial skill, passion with Proactiveness with patience.
Both involve concepts that are most vulnerable in the formative stage, and that require adaptation over time.
|17265 Narayanasamy P.S et al./ Elixir Human Res. Mgmt. 61 (2013) 17264-17265
Table: 1 Shows the major advantages and disadvantages of Entrepreneurship
Table: 2 Shows the major advantages and disadvantages of Intrapreneurship
Both entail a window of opportunity within which the concept can be successfully
Both are predicated on value creation and accountability to a customer.
Both entail risk and require risk management strategies.
Both require the entrepreneur to develop creative strategies for leveraging resources.
Both involve significant ambiguity.
Differences between entrepreneurship and intrapreneurship:
In start-up entrepreneurship, the entrepreneur takes the risk in intrapreneurship and the Company takes the risk other than career-related risk.
In start-up the individual entrepreneur owns the concept and business inintrapreneurship; the company typically owns the concept and intellectual rights with the individual entrepreneur having little or no equity in the venture at all.
In a start-up potential rewards for the individual entrepreneur are theoretically unlimited where in intrapreneurship an organizational structure is in place to limit rewards/compensation to the entrepreneur/employee.
In a start-up venture, one strategic gaffe could mean instant failure; in intrapreneurship the organization has more flexibility for management errors.
In a start-up the entrepreneur is subject or more susceptible to outside influences; in intrapreneurship the organization is more
insulated from outside forces or influence
In this paper explores both entrepreneurship and intrapreneurship and the relations between them. An important outcome of the review is the identification of the similarities and differences between entrepreneurship and intrapreneurship and also the advantages and disadvantages of both concepts. At present we are facing both employment and economic crisis, entrepreneurship and intrapreneurship is an excellent tool for breaking out of the trend trough innovation, by bringing something new innovation on the market. Finally both entrepreneurship and intrapreneurship are instruments of innovation that help in creating new competencies and accessing new business environment. Bibliography
Enterprise Development, pp. 7-24
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.