Business – 1.1 Enterprise – The role of entrepreneurs and intrapreneurs | e-Consult
1.1 Enterprise – The role of entrepreneurs and intrapreneurs (1 questions)
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Model Answer:
Intrapreneurship is the practice of encouraging employees to act like entrepreneurs within an existing organisation, developing new ideas, products or processes while using the company’s resources.
- Innovation acceleration: Intrapreneurs generate fresh ideas that can lead to new products or services, keeping the business ahead of market trends.
- Employee motivation and retention: Providing autonomy and creative freedom boosts morale, reduces turnover and retains talent.
- Revenue diversification: Successful intrapreneurial ventures open additional income streams, reducing reliance on core offerings and enhancing financial stability.