August 21, 2015
US employees are seeking opportunities to perform more like entrepreneurs within their organisation, and according to researchers from the University of Phoenix School of Business this is reason enough to add a new word, ‘intrapreneurship’ into the business-speak lexicon. The survey claims that more than one-third (37 percent) of working adults consider themselves entrepreneurial and more than half (56 percent) acknowledge that their current job gives them the chance to apply an entrepreneurial mindset. Over 3 in 5 (61 percent) of those who say they enjoy a degree of job satisfaction say their organisation provides opportunities to be entrepreneurial and of those who are unsatisfied with their career, only one-third (33 percent) cited entrepreneurial opportunities in their organisation. In addition, 34 percent said firms should provide more training and education opportunities.
“Companies stand to benefit greatly from intrapreneurs because they have the innovative mindset of a traditional entrepreneur,” said Lena Rodriguez, program dean, University of Phoenix School of Business.
“By engaging employees who demonstrate entrepreneurial ambition, organisations can capitalise on the intrapreneurs’ proactive pursuit of opportunities to shake up the status quo with the goal to improve business systems from the inside out. Intrapreneurs are critical to the health of the economy and the workforce ecosystem. It’s a win-win for both the employee and employer.”
The survey of nearly 1,000 American working adults, conducted online by Harris Poll this summer, found that nearly two-thirds of working adults (64 percent) say they could be more entrepreneurial in their careers, and 7 in 10 (70 percent) say their organisation could do more to foster an entrepreneurial culture.
Of the 71 percent of working adults who cited employer barriers to behaving like an entrepreneur in their companies, more than half (54 percent) say their organisation is slow to change, 47 percent say employees are not encouraged to step outside their scope of work and 46 percent believe leadership is not open to new ideas.
“Employees who embrace an entrepreneurial mindset can excel given the right guidance and training opportunities,” said Rodriguez. “While training is important, it is equally important for employees not to rely on their employer to manage their career. Employees should be constantly looking for ways to grow and tie their responsibilities to the company’s success.”
According to working adults, one of the best ways to achieve an entrepreneurial culture is to encourage creative thinking and suggestions (36 percent). Other suggestions from workers to employers include: brainstorming to address organisational challenges (25 percent), sharing the company vision and goals with all employees (25 percent), encouraging involvement in projects outside day-to-day tasks (24 percent), and promoting risk-taking where failure is accepted (22 percent).
“Intrapreneurs invest in the success of their company beyond their individual achievements and identify creative solutions to address organisational needs,” added Rodriguez. “They are proactive agents continuously looking for opportunities to grow within their career through innovation, self-renewal, and new business venturing.”