Entrepreneurship and Intrapreneurship – Difference between Entrepreneur and Intrapreneur

Hola viewers! We are here again with a mesmerizing blog post that most of you observe as a typing error. But the fun fact is that it is not just a typing error. Most of you would be aware of the word Entrepreneur or what is Entrepreneurship. But how many of you have come across the word Intrapreneur? Hardly a few of you. Before we dive into the difference. How about we start by establishing what the two ideas have in common. So, let us start with the article on “Entrepreneurship and Intrapreneurship – Difference between Entrepreneur and Intrapreneur”.

Who is an Entrepreneur? What is Entrepreneurship?

To start with, an Entrepreneur is an individual who can set up business/organizations, facing financial challenges in the expectation of extending out imaginative solutions for the issues of the world and making profits. An entrepreneur runs their own company or start-up. They have the responsibility and the complete freedom to work on the betterment of their idea and keep it away from the worse.

Entrepreneurship is the ability and status to create, organize and maintain a business enterprise, alongside any of its uncertainties to make a profit. Entrepreneurship is the creation or the abstraction of value. The most brilliant example of entrepreneurship is the beginning of a new startup.
In the field of financial aspects, the term entrepreneurship is utilized for an entity that can interpret innovations or advancements into services and products. In this sense, entrepreneurship describes exercises concerning both established firms and new startups.

Now let us talk about the other half of our topic, which is Intrapreneur.

What is Intrapreneur? What is Intrapreneurship?

An Intrapreneur has the energy and conviction of an entrepreneur. However, it is responsible for bringing imaginative thoughts and solutions inside a company. The Intrapreneur accordingly doesn’t confront the dangers involved in entrepreneurship. Yet additionally, It will not get to limitless independence.

Intrapreneurship is known as the act of a corporate administration style that coordinates risk-taking and advancement strategies, just as the award and motivational methods, which are all the more generally considered similar to the region of Entrepreneurship. Intrapreneurship is like behaving like an entrepreneur while working with an MNC.

Now you know about what are Entrepreneurship and Intrapreneurship. So, let’s have a look at the difference between Entrepreneur and Intrapreneur

Difference between Entrepreneur and Intrapreneur

The main difference between Entrepreneur and Intrapreneur is that Entrepreneur is a freelancer and the only leader of the operation, and an Intrapreneur is an employee who devotes his/her time and experience for the betterment of their MNC’s.

Entrepreneur

Meaning: An entrepreneur builds their own business with an innovative concept they dreamt of for years.

Objective: To research and bring new things to the market.

Capital and Resources: Any Capital and resources are entirely raised by an
entrepreneur. Fundraising usually means seeking financing from investors and venture firms.

Main Motives: Independence, creation, Financial Gain, and innovation.

Risk: An entrepreneur face every type of risk whether it is financial or any other.

Time orientation: No time-bound.

Works for: Entrepreneur works separately to become a leader in the business field, and they primarily their clients well.

Intrapreneur

Meaning: An Intrapreneur is a company employee who uses their entrepreneurial skills for the growth of the company’s business, services, and product betterment.

Objective: To directly upgrade the maintainability and strength of the company in which they are working.

Capital and Resources: Any kind of capital or resource that is necessary for the project handled by the company.

Main Motives: To support the incomes and benefits of the organization they work for by rolling out significant improvements to the organization and how they work.

Risk: In this case, the company owns the major part of the risk. However, inconsistency and poor work progress may lead the intrapreneur to lose their job.

Time orientation: Self impose time limits.

Works for: An intrapreneur works for a company. They bag some freedom that an entrepreneur has. Intrapreneurs have total control over the project to which they are assigned by the company.

Well, Entrepreneurship and Intrapreneurship are slightly related to each other.

These differences are illustrious of the different kinds of environments in which these entrepreneurs and intrapreneurs work in. The risk in both cases is different. As far for the Intrapreneurs, the risk is minimal, and they are provided with a high salary as compared to the individual working independently. Both Entrepreneurs and intrapreneurs share some common traits including Leadership, Intelligence, and Adaptability. After knowing these differences, you should have a clear image in mind about what role suits you.

Intrapreneurship Projects That Made a Difference

Apple: A group of intrapreneurs (worked on the idea by Steve Jobs) worked independently to develop the Mac computers and the iPhone.

Intel: Intel is known for investing in silicon valley entrepreneurship. As in
1998, they decided to invest in their ideas. As per the reports, out of 400
ideas about 20+ ideas reached the final stage. The most successful venture was Vivonic Fitness Planner by Paul Scagnetti.

Google: Would you believe the fact the GMAIL is a result of intrapreneurship
too? Yes, it is true. The creator of Gmail was Paul Buchheit, who worked
independently to build the opening version. That is what intrapreneurship can outcome in.

WRAP UP

Since you know about the contrast between Entrepreneurship and Intrapreneurship, you should likewise know – the two of them are achievers by their own doing. Also, the core of their characters is their capacity to improve – without which – you wouldn’t read this!

I hope you love my article on “Entrepreneurship and Intrapreneurship – Difference between Entrepreneur and Intrapreneur”. And if you find it insightful, then do offer us feedback.

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