Practicing Intrapreneurship: Assess, Build, Lead, Present

1. Module No.5 Practicing Intrapreneurship www.feenics.eu

2. Structure of Module No.5 • The module content is focused on a number of key aspects, related to practicing intrapreneurship: • provisional assessment of intrapreneurial initiatives; • assessing the potential impact of intrapreneurial initiatives; • building, leading and motivating intracompany intrapreneurship teams; • presenting the merits of one’s intrapreneurial ideas. www.feenics.eu

3. Learning objectives • After following Module No.5, training participants should be able to: • Perform a provisional assessment of the feasibility of an intrapreneurial initiative. • Assess its potential impact on themselves, on their fellow workers and on the company/organisation they work in. • Build, lead and motivate a team of fellow workers to implement an intrapreneurial idea within a company/organisation. • Present and defend the merits of their intrapreneurial ideas/initiatives and effectively work the management to put them to practice. www.feenics.eu

4. Intrapreneurial initiatives – provisional assessment (1/2) • Intrapreneurs are innovating from within the organisations they work for. • Intrapreneurial actions bear the risk of the unpredictable outcome. • Thus, the provisional assessment of intrapreneurial initiatives would serve the purpose of justifying the relevance and feasibility of an intrapreneurial idea. www.feenics.eu

5. Assessing intrapreneurial idea’s INTERNAL FACTORS Provisional assessment against EXTERNAL FACTORS Making the right CONCLUSIONS POSITIVE conclusion: GO ON with putting the idea to PRACTICE! NEGATIVE conclusion: RESHAPE the idea and ASSESS AGAIN! Intrapreneurial initiatives – provisional assessment (2/2) ASSESSING INTRAPRENEURIAL IDEAS Figure 1. Intrapreneurial ideas’ assessment approach www.feenics.eu

6. Assessing intrapreneurial initiatives’ potential impact (1/2) • While being an intrapreneur can be good for your career and personal development, it can also be highly beneficial for your organisation. • However, not all companies embrace intrapreneurs. • Thus, an important aspect of a prospective intrapreneurial idea’s assessment is related to the impact it would have on: • yourself; • your co-workers; • the organisation itself. www.feenics.eu

7. Assessing intrapreneurial initiatives’ potential impact (2/2) Table 1. Assessing the positive and negative potential impact of an intrapreneurial initiative www.feenics.eu

8. Learning activity No.1 • Try to come up with an idea, that you think might be a game-changer for a particular organisation. • After you have formulated the idea, try to assess its feasibility, taking into account the external and internal factors. • Based on the results of the assessment, would you go on with implementing the idea? • Now, try to make an impact assessment of the above idea at individual, group and company level. • For each of the levels above, try to identify the key factors, which might lead to positive or negativeoutcomes. www.feenics.eu

9. Building, leading and motivating intracompany intrapreneurship teams (1/4) • From in intrapreneurial perspective, it is to the benefit of every organisation to function as a collaborative team, as this: • promotes in-house innovation; • improves goal-setting; • inspires better decision making and • calls forth the highest level of performance from each team member. www.feenics.eu

10. Building, leading and motivating intracompany intrapreneurship teams (2/4) • The essentials of a successful intrapreneurial team, which motivate long-term commitment among team members are: • create a culture of trust; • be accountable; • increase clarity; • establish alignment; • reward ability; • resolve conflicts; • increase commitment. www.feenics.eu

11. Building, leading and motivating intracompany intrapreneurship teams (3/4) • The process of learning to work together effectively is known as team development. • Experience has shown that teams go through definitive stages during their development to become high performing. • In order to know what to expect from the performance of a team, the intrapreneurial leader shall be aware of the different stages of team development. www.feenics.eu

12. performing Team Effectiveness Building, leading and motivating intracompany intrapreneurship teams (3/4) forming adjourning norming Figure 2. Stages of team-development storming Source: Bruce Tuckman, “Tuckman's stages of group development” www.feenics.eu

13. Presenting the merits of the intrapreneurial idea and putting it to action (1/2) • Once you have an idea that excites you and you are convinced of its feasibility and positive impact, it's time to pitch it to your boss or leadership team. • This can be a challenging step, because it means putting yourself, and your idea, on the line. • A very useful tool to do this is the so-called elevator pitch – this is a brief, persuasive speech which you can use to create interest in a new project, idea, or product. www.feenics.eu

14. Presenting the merits of the intrapreneurial idea and putting it to action (2/2) • Tips for an effective elevator pitch: • keep it short and sweet; • say it in a mirror; • memorise it and practice; • show your passion; • identify your desired action. • While putting your idea to action, you and your manager might need to bear in mind the following objectives: • keep things collective; • transparency and accessibility; • everybody benefits. www.feenics.eu

15. Learning activity No.2 • Take your idea from Learning Activity No.1 and try to write an elevator pitch of maximum 150 words to present the idea to your boss or leadership team. In your elevator pitch, try to answer the following questions: • What is the problem you are addressing? • How is your idea going to solve it? • What would be the benefits and risks, associated with putting it to action? • What do you need to get started? • What is it going to take to make your idea work? • What time, financial and human resources do you expect it to consume? • When do you expect to have any results? www.feenics.eu

16. Lessons learnt (1/2) • Intrapreneurs are people who think and act like entrepreneurs, while working for a larger organisation. • To be an intrapreneur, you need to put your individuality to good use to develop innovative new products or ideas that can benefit your company. This will increase both your job satisfaction and your value as an employee. • Start by looking for ways to add value and help your company by identifying problems and bottlenecks that need to be dealt with and make an assessment of the feasibility and potential impact of your ideas. • Try to find support among your co-workers for the new idea that you’ve come up with – this will later help you gather and develop a dedicated team to implement the new initiative. www.feenics.eu

17. Lessons learnt (2/2) • When you find an idea that you believe in, prepare yourself, so that you can pitch it convincingly and confidently to your boss or leadership team. • Finally, start turning your concept into reality by running pilot studies and well-managed projects. If all goes well, you'll be rolling out company-wide initiatives in no time. • Don’ forget, in order that your idea turns out to be a really big success, you and your manager might need to bear in mind a number of objectives, such as ‘keeping things collective’, ‘ensuring transparency and accessibility’ and ‘having everybody benefit’. www.feenics.eu

18. Thank you for your attention! www.feenics.eu