INNOVATION THROUGH INTRAPRENEURSHIP

Changing Mindset Through Intrapreneurship

Objective of this Training Seminar:
To introduce the concept of Intrapreneurship to corporate organizations to help them position themselves more competitively in the global market. Whilst it was a norm for corporate organizations to compete on quality, price and customer service two decades ago, these factors are no longer a competitive advantage for the corporate organizations of today. Organisations today have to develop a sustainable competitive advantage that is unique in itself and is not imitable or easily copied. Intraprenesuship give organizations this unique advantage. This seminar introduces participants to the concept of strategic renewal and the birth of new businesses, the two core elements of Intrapreneurship.

Key Learning Benefits:

Participants are taught FIVE core concepts in this seminar: 1. The concept of Intrapreneurship and the benefits of practicing Intrapreneurship 2. How to identify and groom an Intrapreneur the drivers of Intrapreneurship within an organization 3. How to be creative and innovative within the organization by using specific models and tools that can be applied in a structured and simplified manner 4. How to establish an Intrapreneurship Environment within the organization 5. How to overcome barriers and obstacles to the practice of Intrapreneurship within the organization

What is Intrapreneurship: Whilst there are several definitions to define Intrapreneruship by eminent scholars, the one that defines it succinctly and simply is: the extent to which organizations introduce new products, services or processes, and new business ventures within their organizations by being innovative, proactive and risk-taking.

What will an organization with Intrapreneurs look like:

1. The mindset of employees will be different employees will be thinking creatively and acting innovatively. 2. Creativity and Innovation will form the basis of new ideas, services and processes within the organization 3. There will be a system in place to groom Intrapreneurs to spearhead strategic renewal and the birth of new businesses 4. Employees will be empowered to experiment with new ideas and failures will be allowed 5. There will be a reward system to reward idea people within the organization 6. Employees of the organization will be proactive rather than reactive to the changes in the environment 7. The organization will be dynamic in the introduction of new or modified products, services and processes factors which give the organization a competitive advantage in the market 8. The organization will be market drivers as opposed to being driven by the market

Why do Companies practice Intrapreneurship?

(1987 Survey by Block and Subbanarasimha of 43 U.S. and 149 Japanese Companies)

Reasons for Intrapreneurship

U.S. Companies (%) 70 76 46 30 35 3

Japanese Companies (%) 57 73 15 17 28 24

Maturity of the base business To meet strategic goals To provide challenges to managers To develop future managers To survive To provide employment

Track Record of Companies that practice Intrapreneurship:

(Reference: The Innovators 1988; Innovation 1990). Intrapreneurship has proved successful for many international organizations over a broad industry spectrum. Examples include: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 3M Johnson & Johnson Merck Motorola Citicorp Hewlett-Packard Intel IBM General Electric Allied Corporation Rubbermaid Procter & Gamble Du Pont Woolworth Raychem Corporation

Training Methodology:
The methodology in delivering this program is critical as the target audience have been in many other programs of similar nature and are looking for something different and unique which is interesting and inspiring to learn. For all purposes they are bored of classroom learning as they probably feel sleepy and lethargic after a short span of time. To overcome this problem this seminar/workshop will be modified to have more activity-based selfawareness learning and less I Talk, You Listen and Learn. This will be in the proportion of 80% activity based learning and only 20% lecture based learning. To achieve the learning objectives, special care and extra time is needed to ensure that lessons are effectively learnt and then being able to be practiced by the participants. The 4Ps of Accelerated Learning will be applied to ensure quick grasp of the fundamental principles and ensure high levels of fun learning. The session will be presented as a seminar/workshop interposed with multiple activities to ensure high momentum. In totality, the Program will be presented as a lively, fun and exciting session such that the participants will pass positive and encouraging words of commendation to their colleagues who will attend after them.

Highlight of the Programme:

The Food Game which brings out the EIC in organizations

Course Outline:
DAY 1:
Intrapreneurship: Defining Intrapreneurship Questioning Intrapreneurship Three Important Factors in Intrapreneurship Innovativeness Proactiveness Risk-Taking What is Intrapreneurship The EIC Model Causes for Interest in Intrapreneurship Corporate Culture versus Intrapreneurial Culture

Environment: Creating an Intrapreneurial Climate Twelve Enabling Factors

Highlight of the Programme: The Food Game

DAY 2:
Intrapreneur: Who is an Intrapreneur? Myths about Intrapreneurs Critical Roles that Intrapreneurs Play Characteristics of an Intrapreneur Questionnaire: Are You an Intrapreneur? Questionnaire: Are You an Achiever? 3Ss: Secrets of Success of Successful Intrapreneurs

Innovation: Defining Innovation Defining Creativity Distinguishing the Difference between Creativity & Innovation Types of Innovation How Innovation Actually Happens The Crucial Roles in Innovation Finding a Good Idea The Importance of Sponsors Checklist for Choosing a Sponsor Questionnaire: Diagnosing Your Climate for Innovation

Barriers & Obstacles: Barriers and Obstacles that hinder Intrapreneurship Tearing Apart Barriers and Obstacles The Companys Intrapreneurial Past What Can YOU Do?

Establishing Intrapreneurship within the Organisation The 8 Steps

TABLE 2: CONTENT AND DELIVERY FRAMEWORK FOR 5-DAY EDW MODULES 1. Elements of entrepreneurship development 2. Risk Taking 3. Goal setting and planning 4. Business planning framework and guidelines 5. Market Study 6. Access to market 7. PEQs Validation -entrepreneurship role modelled 8. Presentations by relevant Organisations 9. Access to finance readiness & Bank Interviews 10. Getting results 11. Action planning FEATURES Achievement Motivation Training (AMT) Self study instruments PEQ tracking - Stamp book Adult and experiential learning methodology Competency based training with Goal setting and action planning Presentations by relevant Organisations Individual assignments Field assignment Draft Business plan preparation for accessing credit Market research and presentation skills Rapid Bankers Appraisals COMPETENCIES
Workshop will build the capacity of participants to: a) effect positive attitudes to their enterprises b) exhibit entrepreneurial behaviour for business success c) think and behave in achievement oriented manner d) perceive and act on business opportunities e) set challenging and attainable business goals f) start and run a new business g) improve on existing business h) use multiple sources of information i) develop business plans j) reduce resistance to change k) apply reasonable standards of excellence in their performance l) build up confidence to achieve in business m) make good presentations n) be steadfast in the face of daunting challenges o) improve interpersonal competence Market study & present action Prepared draft business plan PEQ Stamp book

Certification

For leaders, encouraging people to think like entrepreneurs is key to maintaining a competitive edge. This article lists 34 ways to help people in your organization think creatively and become in-house entrepreneurs - or "intrapreneurs."

1. Drive out fear of failure. Fear is the innovation killer. 2. Put together in-house teams to track the competition, with each team focusing on one product or service niche. Hold quarterly update meetings for all teams. 3. Hire a consultant to track competitive trends on a regular basis. Ask him or her to present findings in a completely unvarnished fashion. Tell him his job is to push people out of complacency. 4. Regularly ask people: "If we could provide any additional product or service, what would it be?" 5. Send people from different levels of the organization to trade shows; create a regular forum for people to report on trade show highlights. Make sure that people from different departments attend. 6. Create a team of inter-departmental "imagineers." Ask them to come up with a new product or service idea (consistent with your company's purpose, values and vision) in one month. 7. Conduct regular focus groups of your customers. Screen new products from your competitors as well as your own products. 8. Put a suggestion box on your web site. Offer a trip to Bora Bora as a reward for the best idea. 9. Set a goal of creating one collaborative venture with another company. 10. Ask employees to talk openly about the things they think the company does well. Ask them to do more of it. 11. Ask employees to talk openly about the things they think the company doesn't do well. Ask them what they would do to change it. Implement the most worthwhile suggestions right away. 12. Set objectives and performance standards for innovation. E.g. each manager will be responsible for creating something that adds value to the company each month. 13. Create an in-house venture capital pool and invite people to submit business ideas and business plans. 14. Provide in-house "genius grants" for in-house geniuses. 15. Create a company wide "ideas for improvement" incentive program. 16. Emphasize the importance of innovation in hiring policies. 17. Encourage departments to engage in scenario planning. Make sure they answer the question: "What would we do if our two largest competitors merged..."

18. Become an expert in the licensing of new technology. 19. Create a new customer acquisition team. Charge the team with identifying and contacting one new customer each day. 20. Monitor state and federal R&D activities. 21. Form an advisory board consisting of people whom you'd most like to buy your products or services. Don't rest until they are your customers. 22. Create a program so that staff can rotate through internal departments and learn about life in other parts of the company. 23. Form an intern exchange program with a local university lab. Your employees work there for three months, their students work at your company. 24. Hold an offsite planning session dedicated to innovation. Hold it someplace where there are no chairs and ask people to arrange the meeting space. 25. Celebrate innovation! 26. Allow people time to goof off and get silly. Create a fun environment for people to work in. 27. Publicize innovations in your company newsletter. 28. Contact a business broker or investment banker. Tell them you're interested in acquiring a company that's as entrepreneurial as yours in the same market as yours. If none is available, wait 6 months. Repeat the process. 29. Create an in-house class in creative thinking. 30. Tell people it's okay to fail. Then tell them again. 31. Implement a sabbatical program for employees. 32. Hold an annual in-house innovation fair. 33. Identify inventors in the community with whom your company would like to form a relationship. Create an inventor relations program. 34. Hold a party where people come dressed up like their favorite inventors. Give out prizes.