Home Depot, IKEA, and Accenture are examples of major companies with innovation labs.
The labs are designed to attract the brightest minds in technology, giving them a place to channel their entrepreneurial spirit with the security of working for an established organization.
Companies benefit as well, because they’re less likely to lose their top talent to the startup world.
Alphabet, Google’s parent company, has a famous innovation lab called X.
Visit Business Insider’s homepage for more stories.
“It’s like being an entrepreneur,” said Tomas Chamorro-Premuzic, “minus the risk.”
Chamorro-Premuzic, a psychology professor at Columbia University and the chief talent scientist at Manpower, was referring to “intrapreneurship.” It’s a general term for acting like a company founder, but within the confines of an established organization — typically in what’s called a corporate innovation lab. Think X, Alphabet’s research and development team that’s also been called a “moonshot factory.”
Across industries, intrapreneurial opportunities have grown relatively common. And while few are as glamorous as traditional entrepreneurship can seem — you are, after all, working for The Man — there can be practical benefits for both individuals and organizations.
Specifically, Chamorro-Premuzic mentioned money. As a startup founder, you never know “if you’re going to be bankrupt in one or two years,” he said, adding that “the likely outcomes for founders or entrepreneurs are very bleak.” Working under the umbrella of a major corporation provides financial and job security, since you aren’t constantly hunting for funding.
The business case for intrapreneurship, according to Chamorro-Premuzic, is simply that companies aren’t losing their most driven and most talented people to the startup world. Instead, companies dangle the prospect of relative freedom and creativity and hope that aspiring entrepreneurs will snatch it up.
To be sure, intrapreneurship has its detractors. In 2017, Anderee Berengian listed on VentureBeat all the companies that …read more
Source:: Business Insider