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This paper examines and also gives credence to the potency of intrapreneurship as a launch - pad for organizational re – engineering that is considered as the vitally needed catalyst for economic growth and development. Intrapreneurship refers to employee initiatives in organizations to undertake something new, without being asked to do so. It is a process by which individuals-either on their own or inside organizations-pursue opportunities without regard to the resources they currently control. Major activities related to intrapreneurship include opportunity perception, idea generation, designing a new product or another recombination of resources, internal coalition building, persuading the management, resource acquisition, planning and organizing. Key behavioural aspects of intrapreneurship are personal initiative, active information search, out of the box thinking, voicing, championing, taking charge, finding a way, and some degree of risk taking. It discusses the similarities and differences between intrapreneurship and independent entrepreneurship. Organisations employing intrapreneurial strategies have a competitive edge, which also boosts economic development. Clear reward systems and strategies must be in place to ensure that the intrapreneur is adequately compensated |
