Module 1 • The entrepreneur


What is intrapreneurship? Intrapreneurship is the practice of enthrepreneurship by employees within an organisation or a business.


Features of Entrepreneurship vs Intrapreneurship Entrepreneurship involves innovation, the ability to take risk and creativity. An entrepreneur will be able to look at things in new ways. He will be able to think out of the box. He will have the capacity to take calculated risk and to accept failure as a learning point.


An intrapreneur thinks like an entrepreneur looking out for opportunities, but which benefit the organisation or business he or she is working for. Intrapreneurship is a unique way of making organisations or businesses more profitable when imaginative employees entertain entrepreneurial thoughts. This will enhance their own career in this business.


It is in the interest of any business to encourage intrapreneurs. Intrapreneurship is a modernistic method for businesses to reinvent themselves and improve performance.


1.2 Requirements (Skills)


There are three essential requirements for becoming a successful entrepreneur. They are:


1 Technical requirements


Recognising an unfulfilled need in the community and trying to fulfil that need would require that the entrepreneur has the necessary knowledge. If


DID YOU KNOW


“The Greatest gifts in life don’t go to the most gifted, but to the most persevering.” Prof. Lovemore Mbigi


the unfulfilled need in the community is the need for computer repairs, then the potential entrepreneur must have this technical expertise to become a successful entrepreneur.


2 Business requirements


Starting and running a business successfully requires a number of key business-related skills. Such skills would include the ability to produce the product or provide the service, marketing the product or service, making sure your accounting and administration is being looked after, employing people and keeping them motivated.


3 Management requirements


Managing the process of starting a business and making sure it stays profitable requires four very important management functions namely planning, organising, leadership and control. A successful entrepreneur will rely heavily on these requirements.


1.3 Characteristics of an entrepreneur


Although everyone is a potential entrepreneur, not everyone wants to be an entrepreneur. We differ from one another: our circumstances, abilities, expectations and dreams are not the same. However, the following characteristics can be identified in most entrepreneurs.


E-LINK


Watch this clip of Steve Jobs giving advice to entrepreneurs. http://www.youtube.com/ watch?v=gxo2rGr7Yfg


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