Intrapreneurship Analysis

Every entrepreneur just starting out will surely face the risk of failure, but “real entrepreneurs treat business failure as a milestone on the road to success” (Zwilling, 2012, para. 2). Learning from mistakes, and using the knowledge gained from making them just puts us on the path to new ideas and innovations. Entrepreneurs fail for many reasons: having no written plan that aids in turning your vision into a business is amongst them. Doing market research that is written by experts in the field is a good place to begin planning how your particular innovations will be successful in the marketplace. Many things must be considered before moving ahead with production and manufacturing a new product or idea. Knowing the cost of production and the materials needed to produce products will help to set the market price on goods, but if a product is expensive to make then problems could arise when marketing the item. An entrepreneur may have a very good product, but obviously if the public cannot afford it, the product will not sell. It is only common sense that if the customer cannot afford it, the business will fail. Anyone can come up with ideas, but the idea itself is worthless unless they find a way to accomplish it. This means being willing to take risks, because investors will financially back people up, but not just their ideas.

When hiring new employees it is crucial to hire the people who have the ability to deal with risks and uncertainty, and that can function efficiently in high stress, and risk filled work environments. They advance and make decisions quickly regardless of whether they have all the resources or information on hand. The intrapreneur I would be looking for is one who is task driven and takes direct responsibility to follow my vision and reach my goals. This person will have sound judgment and “common sense in their decisions and actions and is able to cut through and resolve problems that divert others” (Hadzima, 1994-2005, para. 5)....