It means internal entrepreneurship, to start within an established company. Intrapreneurship is a system to accelerate innovations within the company by making better use of their entrepreneurial talents.

Those who know me know that I believe employees are the greatest asset of an organisation and even though in accounting they are on the expense side, they can lead a company to excellence or bankruptcy.

Therefore, we, leaders, will have to operate with everyone and for everyone, seeking a balance between the various interests at stake, from profitability, to spending, innovation, sustainability, etc.

Businesses and society have increasingly expanded their need for innovation.

The emergence of several increasingly useful technologies is the result of the action of entrepreneurs who are always on the lookout for solving problems.

Opposite to what many people think, entrepreneurship is not just a person who has their own business. On the contrary, an entrepreneur is anyone who is looking for change and innovation. Within established companies it is also possible to have entrepreneurs and this fact is increasingly valued in organisations.

People with the ability to solve problems and generate ideas are increasingly welcome in businesses and corporations. Intrapreneurship is considered a great differential, as it can generate permanent competitive advantages through the constant generation of innovation.

As well as increasing the level of innovation and productivity of businesses, this tool makes it possible to organise companies so that work becomes again an expression of the person's contribution to society.

The main characteristics of the intrapreneur are:

Vision, Polyvalence, Need to act, Dedication, Goals, Overcoming problems and Risk management.

It can be said the intrapreneur is creative, persistent, self-confident, dedicated, proactive and innovative. In addition, they know how to identify and create new opportunities, can decide for themselves and take risks.

Culture of innovation

A collective thinking needs to be developed within the company. Of course, this does not mean that everyone thinks in the same way, but the company culture is one of innovation.

When all workforces are up to date in the market they work in, innovation is almost unanimous. Therefore, it is necessary to encourage this thought.

At Living Tours, all employees are invited and encouraged to come up with innovative ideas that impact on customer appreciation and satisfaction, increase sales or reduce costs, leading to improve profitability and efficiency.

Promote the generation of ideas!

Many companies still have a culture where only managers and senior managers can recommend ideas. When looking for innovation through intrapreneurship it is necessary to change this. The generation of ideas from all employees should be encouraged.

In Living Tours, the way to solve this is to have brainstorming meetings in determined periods for generating ideas about certain themes and so that everyone feels motivated to bring new ideas.

Developing motivating leaders

Expecting intrapreneurship to develop voluntarily without any action to promote it is not a good solution.  

In addition to an environment of innovation, leaders need to be involved in promoting this practice. Managers need to encourage employees in each area of the company to develop skills and ability for change.

The process needs to come from the top down. Leaders need to promote employee independence while at the same time working on person's strongest points.

This is only possible if leaders are prepared and keeping up with changes in the market. Thus, with empowered and constantly updated leaders, associates feel free and motivated to practice intrapreneurship.