Entrepreneurship

Management

Intrapreneurship

Social Entrepreneurship

Women Entrepreneurs
to: Prof. Rabiya Sange

Created By: Noaman Sayed

Submitted
:A

Roll No: 34

Entrepreneurship Management

Intrapreneurship:
In 1992, The American Heritage Dictionary acknowledged the popular use
of a new word, intrapreneur, to mean "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
The first written use of the terms intrapreneur, intrapreneuring, and
intrapreneurship date from a paper written in 1978 by Gifford and
Elizabeth Pinchot. Later the term was credited to Gifford Pinchot III by
Norman Macrae in the April 17, 1982 issue of The Economist. The first
formal academic case study of corporate entrepreneurship or
intrapreneurship was published in June 1982, as a Master's in
Management thesis, by Howard Edward Haller, on the intrapreneurial
creation of PR1ME Leasing within PR1ME Computer Inc. (from 1977 to
1981). This academic research was later published as a case study by
VDM Verlag as Intrapreneurship Success: A PR1ME Example by Howard
Edward Haller, Ph.D. The American Heritage Dictionary of the English
Language included the term 'intrapreneur' in its 3rd 1992 Edition, and also
credited Gifford Pinchot III as the originator of the concept. The term
"intrapreneurship" was used in the popular media first in February 1985
by TIME magazine article "Here come the Intrapreneurs" and then the
same year in another major popular publication was in a quote by Steve
Jobs, Apple Computers Chairman, in an interview in the September 1985
Newsweek article, where he shared, The Macintosh team was what is
commonly known as intrapreneurship; only a few years before the term
was coineda group of people going, in essence, back to the garage, but
in a large company."
"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.

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Thus, intrapreneurs are inside entrepreneurs who follow the goal of the
organization. Intrapreneurship is an example of motivation through job
design, either formally or informally. (See also Corporate Social
Entrepreneurship: intrapreneurship within the firm which is driven to
produce social capital in addition to economic capital.) Employees, such as
marketing executives. Or perhaps those engaged in a special project
within a larger firm, are encouraged to behave as entrepreneurs, even
though they have the resources, capabilities and security of the larger
firm to draw upon. Capturing a little of the dynamic nature of
entrepreneurial management (trying things until successful, learning from
failures, attempting to conserve resources, etc.) adds to the potential of
an otherwise static organization, without exposing those employees to the
risks or accountability normally associated with entrepreneurial failure.

Why Companies want Intrapreneurs?

Intrapreneurship is responsible for a lot of product innovation around the
world today. At Lockheed Martin, intrapreneurs developed a number of
famous aircraft designs and at 3M, they came up with Post-It Notes and at
Google, they came up with Google News, AdSense and Gmail. What these
examples have in common is that companies embraced the idea of
allowing their employees to become entrepreneurs and capitalize on new
business ideas. These free flowing ideas come from in-house programs,
which include Googles famous 20% program, contests, hackathons,
skunk works and informal programs where employees pitch ideas directly
to executives. Smart companies want you to become an intrapreneur
because it fuels business growth and allows them to gain a competitive
advantage in their industry.
In a new study in partnership with American Express for my book Promote
Yourself, we found that 58% of managers are either very willing or
extremely willing to support employees who want to capitalize on a new
business opportunity within their company. In addition, we found that 40%
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of millennial employees are either very interested or extremely interested

in doing this. Managers who support employees instead of constrain them
cater to their entrepreneurial spirit, allowing them to feel like theyre
making a big impact, regardless of age. The top reason why millennials
leave their companies after two years is because of a lack of career
opportunities. Intrapreneurship programs are one solution to solve this
retention problem. Many companies have programs already in place to
cater to this rising demographic of millennials that will become 36% of the
American workforce by next year and 46% by 2020.
At LinkedIn, employees can come up with a new idea once each quarter,
put a team together and pitch their idea to the executive team. If their
idea is approved, they are able to spend up to three months time
dedicated to turning the idea into something that benefits the company.
At DreamWorks, they take this a step further by actually teaching their
employees how to formulate their pitch and then allowing them to
practice in front of executives, something hundreds have already taken
advantage of. At Facebook, and many startups, they have hackathons
where they encourage engineering teams to collaborate on software
projects. The Like button, one of the most important innovations in the
companys history, was the product of a hackathon.
Kiley Smith, a 30-year-old manager in the Fraud Investigation & Dispute
Services (FIDS) practice at Ernst & Young LLP, created a cross-practice and
cross-country working group to connect non-profits with legal and
accounting professionals. In the process, she deepened relationships with
potential clients and developed her own leadership skills and those of
younger employees at the firm. The FIDS group works closely with law
firms and is always looking for ways to build relationships with attorneys.
An idea sprouted when Kiley learned that the American Bar Association
recommends lawyers complete at least 50 pro bono hours per year. Kileys
network at the firm included colleagues passionate about non-profits,
entrepreneurs and making a difference. She realized she could give both
the volunteer and leadership opportunities they were looking for by
connecting the networks of attorneys and her FIDS peers to help nonprofits and entrepreneurs.
Each member can identify a need in his or her local community, reach out
and offer the support necessary, drawing on the shared network of peers
and attorneys. In the New York office of Ernst & Young LLP, for instance,
Kiley worked with a local law firm to put together training sessions for
non-profits. The FIDS team ran a seminar about fraud issues inherent in
the non-profit industry, and the lawyers offered advice on some of the
common legal issues non-profits encounter. For Kiley personally, the
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impact of this intrapreneurial undertaking was enormous. I wasnt even a

Manager yet and I was leading and coordinating a working group of 25
people across the country. So when I was up for promotion to Manager, I
already had strong leadership skills to showcase. Most people who didnt
think outside the box didnt have that.
Stories like Kileys are becoming more common in companies, regardless
of size and industry. Intrapreneurship is now recognized as a key to
dynamic growth and change and for millennials, its an opportunity to
develop their leadership skills while inspiring change. For millennials who
are entrepreneurial, but are still paying back student loans and dont have
access to mentors or capital, intrapreneurship is the perfect solution. By
leveraging internal resources and a corporate brand, millennials can make
a big impact even at the start of their careers and thats exactly what
they want. When intrapreneurs are successful, companies reap the
benefits too.

What is a Social Entrepreneur?

Over the past two decades, the citizen sector has discovered what the
business sector learned long ago: There is nothing as powerful as a new
idea in the hands of a first-class entrepreneur.
Social entrepreneurs are individuals with innovative solutions to societys
most pressing social problems. They are ambitious and persistent, tackling
major social issues and offering new ideas for wide-scale change.
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Rather than leaving societal needs to the government or business sectors,

social entrepreneurs find what is not working and solve the problem by
changing the system, spreading the solution, and persuading entire
societies to move in different directions.
Social entrepreneurs often seem to be possessed by their ideas,
committing their lives to changing the direction of their field. They are
visionaries, but also realists, and are ultimately concerned with the
practical implementation of their vision above all else.
Social entrepreneurs present user-friendly, understandable, and ethical
ideas that engage widespread support in order to maximize the number of
citizens that will stand up, seize their idea, and implement it. Leading
social entrepreneurs are mass recruiters of local change makers role
models proving that citizens who channel their ideas into action can do
almost anything.

Why "Social" Entrepreneur?

Just as entrepreneurs change the face of business, social entrepreneurs
act as the change agents for society, seizing opportunities others miss to
improve systems, invent new approaches, and create solutions to change
society for the better. While a business entrepreneur might create entirely
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new industries, a social entrepreneur develops innovative solutions to

social problems and then implements them on a large scale.

Historical Examples of Leading Social Entrepreneurs:

Susan B. Anthony (U.S.): Fought for Women's Rights in the United States,
including the right to control property and helped spearhead adoption of
the 19th amendment.

Vinoba Bhave (India): Founder and leader of the Land Gift Movement, he
caused the redistribution of more than 7,000,000 acres of land to aid
India's untouchables and landless.

Dr. Maria Montessori (Italy): Developed the Montessori approach to early

childhood education.

Florence Nightingale (U.K.): Founder of modern nursing, she established

the first school for nurses and fought to improve hospital conditions.

John Muir (U.S.): Naturalist and conservationist, he established the National

Park System and helped found The Sierra Club.

Jean Monnet (France): Responsible for the reconstruction of the French

economy following World War II, including the establishment of the
European Coal and Steel Community (ECSC). The ECSC and the European
Common Market were direct precursors of the European Union.

List of some Successful Social Entrepreneurs:

1) RingCentral hopes that these examples serve to inspire
entrepreneurs new and veteran, young and old to pursue big
ideas that can make the world better.
2) SEKEM With a name that essentially means vitality from the
sun, this Egyptian company has certainly lived up to its promise by
continuously encouraging social, personal and environmental
development. Since SEKEM was founded in 1977 by Dr. Ibrahim
Abouleish, a pharmacologist, it has:

Produced medicinal, herbal, gastronomical and aesthetically focused

products that serve the needs of its customers
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Improved the environment through biodynamic farms

Built an educational establishment for children to emphasize
creativity and analytical thought
Instituted a healthcare center devoted to holistic medicine

3) Amul Founded in 1946, Amul was established initially as a

reaction to unfair milk trade practices in India, inspiring local and
marginalized farmers to form cooperatives independent from trade
cartels. With the notable help of Tribhuvandas Patel and Verghese
Kurien, the Amul cooperative model became so successful that it
was eventually replicated all over India in 1965. Amul has since:

Produced excellent value for money food products for customers

Created a lucrative source of income for local dairy farmers in India
4) Fifteen Founded by English celebrity chef Jamie Oliver in 2002,
fifteen started out as an ambitious effort to offer disadvantaged
youths (aged 18-24) a means of creating better futures for
themselves through the art of good food. The restaurant initiative
was named for the 15 young people who originally entered
apprenticeships under this program. Since the first establishment
opened, Fifteen has:

Delivered delicious Italian food to patrons and opened two other restaurants
in Amsterdam and Cornwall
Trained 220 young locals in the art of cooking and hospitality and inspired
many of its graduates to pursue successful careers in the restaurant business
Reinforced the value of local produce and cooking techniques

5)

Ladakhi

6)

Womens Travel Company Named for Ladakh, one of the most

beautiful and fascinating places in northern India, the Ladakhi Womens
Travel Company is a travel agency made up of female trekkers and travel
guides. It was founded by accomplished Ladakhi trekking guide Thinlas Chorol
in 2009, defying trekking industry conventions that heavily favor Ladakhi
males. Over the last few years, the Ladakhi Womens Travel Company has:
Organized educational and ecologically friendly tours, treks and homestays for
travelers and tourists
Inspired Ladakhi women to prove that they are equally talented in serving as
tour guides in their hometown
Encouraged local economic growth by allowing women to find work within
Ladakh

Jaipur Rugs

Starting out in Jaipur, India and currently operating from

Atlanta, Georgia, Jaipur Rugs is a primarily focused on producing high-quality
and socially responsible floor coverings. Founded by NK Chaudhary in 1978,

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this company elevated the art of knotted carpet weaving by nurturing it at the
grassroots level and empowering local artisans by directly connecting them to
the global market. Thus far, Jaipur Rugs has:
Produced breathtaking, well-crafted handmade rugs for discerning customers
Continued to connect gifted rug makers to consumers
Sponsored health, literacy, vocational, legal, financial and entrepreneurial
initiatives to inspire progress in communities where their artisans work and
live

Women Entrepreneurship:
Gone are the days when women were considered no match for all
powerful
men
in
this
world.
The male dominated world was always reluctant to even acknowledge the
fact that women were as good as men on parameters of hard work,
intelligence quotient (IQ) and leadership traits.
The new generation women across the world have overcome all negative
notions and have proved themselves beyond doubt in all spheres of life
including the most intricate and cumbersome world of entrepreneurship.
Yes, there is a section among women who believe in short-cuts but at the
same time there is no dearth of women who are confident ,believe in
themselves and have enormous fire in their bellies to take on the best in
the business and beat them at their own game.
India too has its own pool of such bold and fearless women who have
made a mark for themselves both within the country as well as overseas.
Their relentless zeal, incessant quench for success and willingness to walk
the extra mile have broken all myths about their inborn limitations that
were supposed to be major roadblocks on their success expressways.
Lets meet 5 such Indian women who can be easily termed as role models for every
Indian- both males and females:

1. Indra Nooyi
Current position: CFO, Pepsico
Indra Nooyi,56, is the current chairman and CFO of the second largest food and
beverage business, PepsiCo.
Born in Chennai, Indra did her Bachelors in Science from Madras Christian College in
1974 and a Post Graduate Diploma in Management (MBA) from Indian Institute of

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Management,

Calcutta

in

1976.

Beginning her career in India, Nooyi held product manager positions at Johnson &
Johnson and textile firm Mettur Beardsell. Nooyi joined PepsiCo in 1994 and was
named
president
and
CFO
in
2001.
She has been conferred with prestigious Padma Bhushan for her business
achievements and being an inspiration to Indias corporate leadership.

2. Naina Lal Kidwai

Current position: Group General Manager & Country Head HSBC,India
Naina Lal Kidwai, 55, is presently the Group General Manager and Country Head of
HSBC
India.
Naina has a Bachelor's degree in Economics from Delhi University and an MBA from
Harvard Business School. In fact, Kidwai was the first Indian woman to graduate from
Harvard Business School.
She started her career with ANZ Grind lays. Presently, she is also serving as a nonexecutive director on the board of Nestle SA. Kidwai is also global advisor at Harvard
Business School. Indian government conferred Padma Shri award on Naina for her
contributions in the field of Trade and Industry.

3. Kiran Mazumdar Shaw

Current position: CMD, Biocon
Kiran,59, is the founder Chairman and Managing Director (CMD) of Biocon Limited.
Born in Bangalore, Shaw completed her Bachelors in Zoology from Mount Carmel
College, Bangalore University. She later did her post-graduation in Malting and
Brewing from Ballarat College, Melbourne University.
She worked as a trainee brewer in Carlton and United Breweries, Melbourne and as a
trainee maltster at Barrett Brothers and Burston, Australia.
She started Biocon in 1978 and spearheaded its evolution from an industrial
enzymes manufacturing company to a fully integrated bio-pharmaceutical company.
Today Biocon under Shaws leadership has established itself as a leading player in
biomedicine research with a focus on diabetes and oncology.

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Kiran is also a member of the board of governors of the prestigious Indian School of
Business and Indian Institute of Technology Hyderabad.
Kiran received the prestigious Padma Shri (1989) and the Padma Bhushan (2005)
from the government of India.

4. Chanda Kochar
Current position: MD & CEO ICICI Bank
Chanda Kochar, 51, is currently the MD & CEO of Indias largest private bank ICICI
Bank.
Rajasthan born chanda got Masters Degree in Management Studies from Jamnalal
Bajaj Institute of Management Studies, Mumbai. She received the Wockhardt Gold
Medal for Excellence in Management Studies as well as the J. N. Bose Gold Medal in
Cost Accountancy.
Chanda Kochhar is married to Deepak Kochhar, a wind energy entrepreneur and her
Business schoolmate.

5. Simone Tata
Current position: Chairperson (Former), Lakme Chairperson (Present),Trent
Limited
French by birth and educated in Switzerland, Simone is wife of Naval Homey
Jahangir Tata and step mother to Ratan Tata. She is better known as Cosmetic
Czarina
of
India.
She has the distinction of changing a small subsidiary of Tata Oil Mills into the
largest cosmetic brand in India Lakme , that became synonymous with
indigenous
Indian
cosmetics.
In 1996 Tata sold off Lakm to Hindustan Lever Limited (HLL), and created
Trent from the money it made through the sale. Presently, Simone is the
chairperson of Trent Limited.

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