An “intrapreneur” is an individual who works for a company in an entrepreneurial role and environment. While still working for the company, an intrapreneur has the opportunity to develop new business independently, as well as new revenue for the company, the profit from which will be shared in part with him. Below are the principles of corporate intrapreneurship as offered by James Semradek and Michael Butler.
- There is mutual benefit for the company and the employee to structure a corporate intrapreneurship environment. The company retains a key employee and keeps revenue and profit growing. This situation is particularly true for a valuable employee whom the company does not want to lose.
- The company provides the employee with flexibility to conduct business independently as well as for the company, and the company trust the employee being offered the intrapreneurial opportunities.
- The company and employee share in the profit of new revenue streams generated by the employee.
- The employee functions independently within the guidelines of his direct report. Each client is treated as his own, whether it is a company client or individual employee client. The result is improved follow through and enhance client satisfaction.
- Company objectives take precedence over personal goals, though where possible, personal goals are understood and aligned with company objectives.
- The employee functions within the vision and values of the company.