Beyond the Books: How an ‘intrapreneurship mindset’ can separate you from the crowd.
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The document discusses the concept of intrapreneurship, highlighting the traits and mindset that differentiate intrapreneurs from conventional employees. It emphasizes the importance of understanding one's organization and industry while navigating barriers such as risk aversion and bureaucratic cultures. The USQ Ignition Project aims to cultivate an entrepreneurial mindset among students and provide practical skills to foster innovation within established organizations.
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Beyond the Books: How an ‘intrapreneurship mindset’ can separate you from the crowd.
- 3. CRICOS QLD 00244B | NSW 02225M TEQSA: PRV12081 How an ‘intrapreneurship mindset’ can separate you from the crowd with Dr Paul Newbury Senior Project Coordinator Ignition (Entrepreneurship) Project
- 4. Dr Paul Newbury Senior Project Coordinator, USQ Ignition Project Qualifications: PhD University of Queensland PGDip Strategy & Innovation University of Oxford PGDip Entrepreneurship University of Cambridge MBA Deakin University MInfoTech QUT BCommerce Griffith University CPA CPA Australia GAICD Australian Institute of Company Directors Industry & Academia:
- 5. Session Overview 1. USQ Ignition Project 2. What is ‘intrapreneurship’? 3. Traits of successful intrapreneurs 4. Applying an ‘intrapreneurship mindset’ 5. Know your organisation and industry 6. Barriers, obstacles and challenges 7. Questions and discussion
- 6. Ignition (Entrepreneurship) Project Purpose: Provide opportunities for students to: • cultivate an entrepreneurial mindset; and • develop skills to create, nurture & grow business ideas. Entrepreneurship 101 Series • Startup Essentials (6 x videos & 2 webinars) • Perfect Your Pitch (2 webinars & startup pitch competition) • Other topics under development (e.g. digital marketing etc) Various Startup Events (Online & on-campus, e.g. bootcamps) 3 Year USQ Entrepreneurship Strategy Website https://www.usq.edu.au/entrepreneurship
- 7. What is Intrapreneurship? “Intrapreneur is an entrepreneur within an already established organisation.” (Pinchot, 1985) “The intrapreneur focuses on innovation and creativity, and transforms an idea into a profitable venture, while operating within the organisational environment. Thus, intrapreneurs are ’inside entrepreneurs’ who follow the goal of the organisation. (Pinchot, 1978) “Intrapreneurs are the "secret weapon" of the business world”(Koch, 2014) Video 1: Foster corporate entrepreneurship
- 8. What are some characteristics of an intrapreneur? • Drive change • Abide by set rules and/or guidelines • Problem solver • Narcissistic
- 9. Traits of Successful Intrapreneurs 1. Freedom to act, not money, is the key to their motivation. 2. Don’t wait for the change, they drive it! 3. They seed and nourish their ideas until ready to be shown. 4. Visualise and map solutions 5. In turbulent times, they find new strategic directions. 6. They are authentic and have utmost integrity. Video 2: 6 Traits of Intrapreneurs
- 10. 5 Ways to apply an intrapreneur mindset in your organisation 1. Understand your own company!!! 2. Evolve your organisation from the inside out (‘organisational ambidexterity’) 3. Don’t be afraid to experiment 4. Build informal leadership as the resident problem solver 5. Move away from command-and-control leadership
- 11. Know Your Industry Sector Attributes: • A knowledge base, technologies and an existing or potential demand. • A set of actors carrying out market and non- market interactions through processes of communication, exchange, cooperation, competition and command. • The interactions are shaped by formal and informal institutions; • The system undergoes processes of change and transformation through the co-evolution of its elements. (Adapted from Malerba, 2002) Sectoral Systems Model
- 12. DEMAND INSTITUTIONS Formal: Informal: TECHNOLOGY & KNOWLEDGE Traditional Paradigm: Emerging Paradigm: ACTORS & NETWORKS Actors (Firm & Non-firm): Networks: SECTORAL SYSTEM MODEL (TEMPLATE) Industry Sector: _________________ For what? By Whom? Measures? Historical Trend? Future Trajectory? Sectoral change/evolution ??? Challenges to assumptions ???
- 13. Technology & Knowledge Traditional Paradigm: Linear Electricity Supply Chain * Large power station (Coal/Gas/Hydro) * Transmission (High voltage monopoly) * Distribution (poles & wires monopoly) * Retail/Supply Emerging Paradigm: Integrated Customer Centric Model * Distributed renewable generation * Distributed battery storage * Smartgrid / smartmeter * Energy efficiency * Demand management * Electric vehicles Institutions Formal: (i.e. rules of the game) * Energy market related (AEMO, NEM, AER plus other State based) & Ofgem, GEMA (UK) * Government policy makers (Energy, Industry, Enviro protection, Treasury, Building codes etc * Industry & technology related: ESAA, ENA, safety, electrical stds, training , certifications etc Informal: (i.e. Norms, shared routines/mental modes) * Incumbents (DNSPs etc culture, risk tolerance ) * New entrants (entrepreneurial, future visioning) Actors & Networks Firms: * Generators TNSPs, DNSPs & Retailers * New entrants & suppliers * Commercial/industrial customers Other Actors: * Residential & non-firm customers * Investors/Owners (Private/Public) * Energy Regulators (AER/Ofgem) * Govt policy makers (State & National) Networks: * Industry (e.g. ENA, ESAA etc) * Consumer groups (EUAA etc) * Other (e.g. media, enviro, unions etc) EXAMPLE 1: SECTORAL SYSTEM – AUSTRALIAN ELECTRICITY INDUSTRY Demand Electricity Source: • Electricity grid • Distributed renewables Sectoral Evolution o Transition to low carbon energy systems o Govt policies reset (energy/environment) o Innovation stimulus: renewables, EE, DSM o Consumer choice ↑ o Competition from new entrants ↑ o Rapid diffusion of Solar PV o Electricity grid demand ↓ o Electricity price per kWh ↑ o Emerging ‘game changers’: • batteries + solar PV = demand ↓ • batteries + eVehicles = demand ↑ o Regulatory /policy reforms underway Challenge to Institutional Assumptions o Longevity of traditional tech paradigm o Cost comparable alternative to grid o Natural monopoly status of DNSPs/TNSPs o Bargaining power of consumers o Business model sustainability o Investments based on 40 year asset life o Electricity consumption trends o Penetration rate for solar PV o Role of storage in network design o Industry attractiveness to investors
- 14. What do you think are the biggest obstacle or barriers for an intrapreneur? • Too many rules • Company resistant to change • Risk aversion • All of the above
- 15. The biggest challenge for intrapreneurs is dealing with the "Corporate Immune System". This expression means that corporate organisational structures such as bureaucracy, hierarchy, rules etc. do not support intrapreneurial culture and behaviour. Barriers, Obstacles & Challenges
- 16. Examples: 1. Organisational culture 2. Resistance to change 3. Innovation culture 4. Risk aversion 5. Silos and collaboration 6. Performance culture Corporate Immune System
- 17. Concluding Remarks • Intrapreneurs focus on innovation and creativity to transform ideas into profitable ventures, while operating within the organisational environment. • Graduates now given greater responsibility earlier in career! • Understanding your industry and the challenges your organisation faces is how you identify ideas and opportunities! • You may encounter obstacles: ‘corporate immune system’ • “Intrapreneurs are the "secret weapon" of the business world” (Koch, 2014)