Image: WU Ex. Academy
Only those who question rules, routines and existing business models can create radically new technologies, products or services that turn existing markets upside down. Therefore, “intrapreneurs”, i.e. people who overcome resistance and act entrepreneurially, are essential in times of artificial intelligence and shorter production cycles in companies.
Intrapreneurship means entrepreneurial action within an established company. In contrast to entrepreneurship, which involves starting a business, intrapreneurs work as employees in an existing organization.
Breaking the rules is a balancing act, says Nikolaus Franke, academic director of the MBA course Entrepreneurship & Innovation at the WU Executive Academy in Vienna. “Establishing, complying with and monitoring rules are crucial for the routine operation of a company.”
Always a balancing act
Franke advises that intrapreneurs need an ethical compass, they need to know the company’s goals and be able to estimate costs and benefits. Managers have to keep questioning the rules and should point out that it can make sense to break them. It is important to strike a balance between encouraging rule-breaking and maintaining a healthy framework.
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