difference between entrepreneurship and intrapreneurship ?

The word "entrepreneur" has French origins, dating back to the 18th century. It comes from the verb "entreprendre", which means "to undertake". An entrepreneur is someone who starts their own business or enterprise, taking on financial risks in the hope of profit.

 

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There are many examples of entrepreneurial businesses, ranging from small businesses to large corporations. Some well-known entrepreneurs include Bill Gates, Steve Jobs, and Mark Zuckerberg.

The word "intrapreneur" was first coined in the 1970s by Dr. Gifford Pinchot III. It comes from the combination of the words "intra", meaning within, and "preneur", meaning entrepreneur. An intrapreneur is someone who innovates and takes risks within a larger organization.

Just like entrepreneurship, there are many examples of intrapreneurial businesses. Some well-known intrapreneurs include James Dyson and Airbnb co-founder Joe Gebbia.

So what's the difference between entrepreneurship and intrapreneurship? Let's take a look at some key differences:

What is entrepreneurship.

The word "entrepreneur" has its origins in French, and it literally means "one who undertakes." In the 18th century, economists began using the term to refer to people who started new businesses.

What entrepreneurs do.

Entrepreneurs are people who identify opportunities and then create or seize them. They start new businesses or new products or services within existing businesses. Entrepreneurship is often associated with risk-taking, and indeed many entrepreneurs take risks in pursuit of their goals. But entrepreneurship is not just about taking risks; it's also about creativity, hard work, determination, and perseverance.

Examples of entrepreneurial businesses.

There are many famous examples of entrepreneurial businesses, from tech startups to small local businesses. Some well-known entrepreneurs include Steve Jobs, Bill Gates, Mark Zuckerberg, and Oprah Winfrey.

What is intrapreneurship.

The word "intrapreneurship" was coined in the late 1970s by Gifford Pinchot III, an American management consultant. It is a combination of the words "internal" and "entrepreneur." Intrapreneurs are employees who think and act like entrepreneurs within a company.

What intrapreneurs do.

Intrapreneurs are innovators who create new products, services, or processes within an organization. They are risk-takers who are not afraid to fail. They are often passionate about their work and have a strong vision for what they want to achieve. Intrapreneurs typically have a high level of autonomy and responsibility within their organization.

Examples of intrapreneurial businesses.

One example of an intrapreneurial business is Google's experimental "20 percent time" policy, which allows employees to spend 20 percent of their time working on projects of their choice. This policy has led to the development of some of Google's most popular products, including Gmail and Google Maps. another example is 3M's "15-percent solution," which allows employees to spend 15 percent of their time working on personal projects. This policy has resulted in the development of some of 3M's most successful products, including Post-it Notes and Scotch tape.

Differences between entrepreneurship and intrapreneurship.

Risk. One of the biggest differences between entrepreneurship and intrapreneurship is the level of risk involved. When starting your own business, you are taking on a much greater risk than if you were to pursue an entrepreneurial opportunity within an existing company. While there is no guarantee of success with either option, the risks associated with entrepreneurship are generally much higher.

Subsection 3.2 Reward. The potential rewards of entrepreneurship are also typically much higher than those associated with intrapreneurship. This is because, as the owner of your own business, you will reap all the benefits if your business is successful. With intrapreneurship, you may be able to achieve a high level of success within your company, but you will ultimately be limited by the size and scope of the organization.

Subsection 3.3 Time frame. Another key difference between entrepreneurship and intrapreneurship is the time frame involved. When starting your own business, it can take years to see any significant return on investment (ROI). In contrast, an intrapreneurial opportunity within an existing company can often be up and running much quicker, and begin generating a positive ROI much sooner.

Subsection 3.4 Support. Finally, another key difference between entrepreneurship and intrapreneurship is the level of support available. When starting your own business, you are essentially on your own when it comes to finding funding, customers, and employees. With intrapreneurship, you have the backing of an established company, which can provide invaluable resources and support in pursuit of your entrepreneurial goals.

Conclusion

The main difference between entrepreneurship and intrapreneurship is the level of risk involved. Entrepreneurs are typically more willing to take risks than intrapreneurs, as they are often rewarded with greater rewards if their businesses are successful. Intrapreneurs, on the other hand, often have less to lose if their businesses fail.

Both entrepreneurship and intrapreneurship can be rewarding experiences, but it is important to understand the difference between the two before deciding which path to take. Entrepreneurship can be a risky proposition, but the potential rewards can be great. Intrapreneurship often requires less risk, but the rewards may not be as great.