Published on March 10th, 2021 | by Sunit Nandi0
Advantages Of Having Intrepreneurs For A Company
Business conditions are changing rapidly and many businesses find that startups and innovative rivals are posing a challenge to them, affecting the growth and profit of their business. It is usually difficult for the business to motivate their employees to innovate and do something different, since the employees are assured of a monthly salary, if they do the tasks which are assigned to them. Hence increasingly companies are preferring to hire intrapreneurs and some of advantages of having intrepreneurs in your company are discussed below.
The business owner and managers have a particular way of looking at the way the business is functioning, the systems and processes. Since they have been using the system for many years, they find it difficult to detect flaws in the system or improve it. One of the main advantages of hiring an intrapreneur, is that the person does not have any kind of preconceived notions about the business. Hence he will be able to look at the business without any prejudices, to give his honest opinion on the problems in the business. Resolving these problems will improve productivity and employee morale.
Employees are aware that their career will depend to a large extent on how their managers and other seniors will rate them. Hence they will always try to create a positive impression on their manager, seniors, ensure the manager and others are not offended. So even if the employee is facing problems or feels that there are flaws in the procedures, systems, they may not tell the manager. In comparison, the employees are aware that the intrapreneur will not be doing their performance appraisal, or affect their career, so they are likely to be more honest about their problems. This feedback can help in improving the systems and procedures in the organization.
In many reputed companies the employees have been working in the same organization for many years, some of the employees have never worked in any other organization in their life. Each organization has different procedures and systems, in various departments, and some of the procedures, systems in other organizations are more efficient, help in saving time, money and prevent fraud. Since the intrapreneur is usually a contractor or freelancer, they have worked with a large number of businesses and noted the different procedures which are followed. So it is easier for the intrapreneur to identify the systems which are not efficient, and recommend improvements incorporating the best practices.
Adapting to changing conditions
The business conditions and technology are always changing yet most employees are extremely busy with their routine work, that they do not have the time or inclination to remain updated with the latest technology, competition, changes in economy. In some cases, delays in adopting a new technology or business trend can cause losses for the business. Hence it is advisable to hire an intrapreneur, the internal entrepreneur, who is only focusing on innovation and growth, monitoring the business environment, technology used, and competition, so that the business will adapt faster.