As an educated and informed professional in his Mid-Forties, I am from the fortunate generation which has witnessed perhaps the most blazing era of development of all times. My children, who are 15 and 11 years old, refuse to believe when I tell them stories about as to how we used to work during the early times of career just about 20-25 years back. My elder daughter was astonished when I narrated her as to how we used to communicate through snail mail and simple messages like “Reached safely to Bangalore” used to take more than 24 hours even through the fastest mode of communication.
This has not happened on its own. This is the sweet result of pushing the boundaries of human imaginations to limits. This is the result of a contentiousness effort of people who refused to remain content and have exerted themselves almost to the limit of madness.
Also is the fact that nothing like above would have been possible if people would have stuck to their normal routines, have done their mundane jobs and have not pushed themselves beyond the obvious things supposed to be done by them day in and day out.
This is where the theory of intrepreneurship comes into play. At the most basic level, intrepereneurship can be defined as internal entrepreneurship.
The basic pitfall (for business) of the technology boom of last 25 years is that now it is a free for all platform. Knowledge sharing has reached unimaginable levels and at that level it has fostered innovation. This innovation in turn has created massive pressure in business environment to be the most competitive amongst the peers. Whether we like or not, every business today is in the race to finish. Only few will survive and those will survive only on the strength of their competitiveness.
This calls for a strategic shift in the way business should be handled in present times. Business which will not foster intrepreneurship will definitely be strangulated and suffocated to death.
As business grows, it definitely becomes more and more complex. This calls for creation of entrepreneurial ethos within the organization. This will give room for small-group collaboration. This will also give birth to new ideas and create new opportunities within the organization. If nurtured properly it will surely bring in
a) Speed and Flexibility
c) Ownership and last but the most important
For an entrepreneur, it is a hard decision to take. Most entrepreneur driven business does not walk that path due to an underlying fear of losing control.
Also is the fact that such entrepreneurs will demand 100% success even if they chose to nurture intrepreneurship within the organization. This is where the problem starts.
More often than not intrepreneurship will be looked upon as an experimental activity. In such an environment, intrepreneurship won’t work.
People need to be assured that it is ok to fail and to commit a mistake as long as it is followed up, worked upon and not repeated. They should be given an environment to develop their own product or processes and share and leverage their ideas.
Many of the attempts to encourage ‘intrepreneurship’ may falter because they contravene the ways entrepreneurs actually do innovate and create value or look upon creating values.
This is the gap which needs to be bridged.
The sooner, The better.