What is Intrapreneurship?
Intrapreneurship is a process that allows an employee to act like an entrepreneur within a large organisation. Through this process a business can harness the experience, skills and passion of employees, equipping and empowering them with the tools needed to develop new innovative solutions for the business.
Intrapreneurship educates and trains employees in innovation and entrepreneurship whilst simultaneously allowing them to rapidly develop and implement their innovative business ideas. For us, when it comes to creating intrapreneurs for our corporate partners, it’s built around the famous Benjamin Franklin quotes: “Tell me and I forget. Teach me and I remember. Involve me and I learn.”
How Intrapreneurship works?
Our Intrapreneurship programmes enable corporate partners to empower and nurture their most valuable asset, their employees. L Marks takes selected employees and guides them through their tried and tested “learn-by-doing” process which takes new business ideas through early-stage validation into a compelling and robust business case within a few months.
Who are considered intrapreneurs?
Each one of your employees can be an intrapreneur. Diversity naturally breeds innovation. When it comes to idea generation, it is important to have as many ideas from sources that are as unique as possible to gain insights from various perspectives. These can include bringing on employees from different backgrounds, cultures, or areas of expertise. Allowing for more variety in opinion also creates balance. For example, members with more experience can provide practical guidance while granting newcomers the space to express more inventive solutions.
Why do an Intrapreneurship Lab?
Develop your employees, ideas and culture for sustainable growth. Supported end-to-end by L Marks, employees “learn-by-doing” through a carefully designed 16-week long innovation course focused on commercial validation and gain greater insight into the factors that underpin innovation through a series of expert-led workshops. Through L Marks’ unique approach which incorporates internal stakeholders, the L Marks in-house innovation team and carefully selected network of expert mentors, the Intrapreneurship Lab provides the framework to facilitate and pioneer new ideas whilst developing entrepreneurial minds and skill sets through university-grade educational content and a unique experience.
Employee Driven Innovation
Equipping and empowering employees through intrapreneurship training and education creates a successful culture of innovation. Senior executives need to provide their intrapreneurs with the resources and confidence to operate–then move out of the way. When upper management gets into the habit of micro-managing or shutting down experimental ideas, it puts the innovative team into a nasty case of analysis paralysis. Successful Intra labs are given the freedom to generate new ideas and take advantage of opportunities as they come. In doing so, innovation programmes won’t always hit the mark, but they should be given the room to fail and learn from mistakes.
Benefits of Intrapreneurship
By encouraging, supporting and promoting the entrepreneurial behaviour of employees, the Intrapreneurship Lab allows for the rapid development, implementation and adoption of new solutions whilst fostering talent. It produces a class of innovation champions and embeds a pioneering mindset so that innovation becomes a defining characteristic of the organisation.
Find out more about The Bottom-Line Benefit of Intrapreneurship.