Intraprenuers and Entreprenuers free essay sample

Intrapreneurship or also known as Corporate Entrepreneurship is the act or behaves like an entrepreneur but only in a large organisation rather than a market as a whole. Nowadays, intrapreneurship known as a practise of management that integrates risk taking and innovation. Intraprenuer is a person in a large organization who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation. The intraprenuer is basically an entrepreneur who works for a company. All business needs intraprenuers since they are considered as powerhouses in a company who creates new businesses, which keep a company or organisation moving forward. Intraprenuers also motivates colleagues and keep the profits up. Employees in an organisation like marketing executives or in other position who engaged in large project are encouraged to behave like an intraprenuer. These can be done by trying things until successful and also learning from failures. This will not expose those employees who behave like an intraprenuer to the risks that usually will affect entrepreneurs. We will write a custom essay sample on Intraprenuers and Entreprenuers or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Generally an intraprenuer focuses on innovation and creativity and also makes an idea profitable while working in an organisation. Hence, intraprenuers are referred as inside entrepreneur who tries to achieve the organisation goal. And also his or her main job is to turn the project into profitable venture. There are some intraprenuers in banks too. Intraprenuers is actually important for banking organisation since they do innovations and add revenues to organisation and also increase motivation among other intrapreneurial employees. As an intraprenuer they become a leader and not as a follower in their organisation and they become the first one when it come to get latest project rolling. In banking organisation, an intraprenuer will take risk to volunteer themselves in leading a new project. For example, Abdul Razak bin Mohammaad Dali Senior General Manager, Public Affairs Division who become a leader in Public Islamic Bank by running advertisement projects to increase Public Bank customer rate and banking revenue. An intraprenuer also need to accept changes for organisations sake. They do not afraid of new technologies or new method and processes and learn to adapt to new changes so, they don’t fall back and keep up updating their knowledge. Public Bank also occasionally undergoes changes mostly in terms of technology since they need to upgrade new technology for banking effectiveness and customer convenience. While the senior employees or intraprenuers in bank not might used to new technologies and still accept it as a major change for the bank and their career. For example, Mr Tan Teck Kong who currently working as General Manager, Information Technology Division joined Public Bank in 1983 and was appointed as a Director in 2000 to head the Bank’s IT Division. Since, he is the director of IT Division in Public Bank Mr Tan Teck Kong makes changes in Public Bank in terms of technology and did not refuse to accept the growth of the technology in the organisation. An intraprenuer also must always be ready to listen to other employee’s idea on how to improve the organisation and its finance. The employees rank in the company should not be considered but only the idea they are giving to improve the organisation. Because even an employee’s rank is not high but he or she might contribute a feasible idea about how the company should progress to improve the work progress. Then the idea should be supported after the idea is approved. There are also other campaigns and projects held in Public Bank. For example, Public Bank has launched Public Bank Esso Mobil Gold Credit Card around 2011. This card allows the card holders to enjoy 8% cash rebate at any Esso or Mobil Service Station and also bonus of 0. % for other retail purchases. Entrepreneurship is behaving or act of being an entrepreneur which is a person undertakes innovations and business in an effort to transform those innovations into economic goods. The efforts will result in creating a new organisation or sometimes revitalize an existing company. An entrepreneur is usually will be in top rank in an organisation or company like a manager or owner and make money through initiative and risk. They monitor and controls the business activities in their organisation and usually be the decision maker. An entrepreneur usually is a sole-proprietor or partner and owns equal or majority shares in a company. A successful entrepreneur has attributes like leadership skills, management skill and a very strong team building abilities. This is the key attributes that led them to success and creating a new business or company. There are many types of Entrepreneurs but we will only look into three basic or general types of Entrepreneurs. a) Social Entrepreneur – a social entrepreneur is an entrepreneur who is motivated by his/her desire to help or improve social, educational and economic conditions. This type of entrepreneurs will not give priority to profit but give importance social and economic conditions. Social Entrepreneurs will develop innovative solutions to global problems. b) Serial Entrepreneur – a serial entrepreneur is an entrepreneur who frequently comes up with new business and ideas. For instance, they will start new business and usually the business will is not related with the entrepreneur’s previous business. They give priority for profits than any other conditions. Serial Entrepreneurs have higher rate of risk, innovation and also achievement. c) Lifestyle Entrepreneur – the lifestyle entrepreneur also will not give priority to profit but places their passion when launching a business. They combine personal interests and talent with the ability to gain profits from their business. This kind of entrepreneurs may decide to be self-employed to get more personal freedom, family time and more time to work with business that inspire them. There are entrepreneurs in Malaysia who become Malaysia’s top richest people. One of the successful entrepreneurs in Malaysia is Tan Sri Dato Sri Dr. Teh Hong Piow is the Chairman of Public Bank. He is a respected entrepreneur with banking career experience of more than 60 years. He starts his banking career in 1950 as a Bank Clerk in Overseas-Chinese Banking Corporation Limited. He then quickly promoted to rank officer in just five years. This shows his skills in banking and how hardworking person he is. He then later joined as Manager in Malayan Banking Berhad in 1960. Tan Sri Teh later he was promoted to the position of General Manager at a young age of 34 which is on 1964. On 1966, Tan Sri Dato Sri Dr. Teh Hong Piow founded Public Bank after he left Malayan Banking. Since then he worked so hard to develop his business into a modern and financial institution. He made the Public Bank with a wide network of 251 domestic five overseas branches.