Entrepreneurship and Intrapreneurship

Entrepreneurship and Intrapreneurship

Introduction

Intrapreneurship is a term which is composed of the two words "Intra Corporate" and entrepreneurship. It is also called internal entrepreneurship, and it refers to the entrepreneurial behavior of employees in companies and public institutions. The employees should conduct themselves as if they are entrepreneurs within the organization that they are working in. The term was coined in 1978 by Gifford Pinchot and since the mid-1980s, academic research on intrapreneurship is being conducted, and the phenomenon is practiced in many organizations. The concept of entrepreneurship and entrepreneurial spirit is engaged as an economics sub discipline with the establishment of new or the creations of new organizations in response to identified opportunities and as an expression of specific founder personalities that carry a personal capital risk (Kaushik & Bhatnagar, 2009). In modern entrepreneurship literature, there are broader approaches. Entrepreneurship is more than setting up, and efficient use of resources, it includes creative elements such as identification of opportunities, finding new business ideas and their realization in the form of new business models and not all accounts include the ownership function. Entrepreneurship may be practiced within existing businesses by non-owners. The product that I have chosen for this assignment is a bike that can be folded into a backpack.

Discussion

Part 1: Product Idea

Mountaineering is one of the most thrilling and fun filled hobby for many people. The buzz in the mountaineering comes from the ability of the person to clamber over the high terrains, mountains and peaks. They climb over nay terrain with only a single objective in their mind, which is the summit. Descending is one of the hardest things on the joints of the climbers. It is, however, a necessary evil. Mountain biking, on the other hand is quite different from mountaineering. Descending mountains for the mountain bikers ...