Meaning of entrepreneur and Intrapreneur

The word entrepreneur is derived from a French word. However they are the ones who perform the functions of entrepreneurship. They launch new ventures. They are creative individuals. They have vision and inspiration to create new business. They identify new business opportunity and take advantage of it. They are the risk takers and better informed and possess greater experience. Above all, they are achievement oriented individuals driven to seek new challenges and accomplishment. However, in more precise terms, it is a visionary individual who takes risks starting something new through assembling and coordinating various resources for the sake of uncertain rewards.

The term Intrapreneur refers to corporate entrepreneur. It is a person within the large organization who handles new ventures based on innovation. He emerges from within an existing organization structure. Big organizations possess financial resources, skills and marketing systems to successfully commercialize innovations. Intrapreneur should be creative, visionary and flexible. They must be able to work within the existing corporate structure and climate, Top management commitment to intrapreneurship is a must.

A salaried employee serves an existing business for the sake of fixed rewards. He implements the decisions made by the owners of the business. He is a servant. A salaried employee does not invest his money in the business and at the same time he doesn’t need to bear the risks. In fact, he gets a fix sum of money every hour or month as stated during the time, he is appointed in the organization. He does not innovate. He translates ideas into practice. He executes plans and has high concern about his status. Whatsoever, the number of salaried employees can vary according to the needs of the business. The tenure of service is fixed according to the age or years of service