Innovation is the cornerstone of a successful business, yet it often eludes large companies due to bureaucracy and rigid processes. With intrapreneurship, companies give themselves the freedom to take risks and be more innovative and creative.
Today, organisations that actively promote intrapreneurship allow their employees to spend up to 20% of their time on ideas that are unrelated to their regular roles. Intrapreneurship pays enormous dividends for companies because employees have permission to think big and go beyond the status quo—two essential ingredients for creating new innovative products, services and business models.
Steven Pezim explains why it is critically important to ensure that the organisation's culture accepts, nurtures and encourages intrapreneurship.