The term intrapreneurship was first coined in the 1980s. Though the term has existed in the business world for decades now, there still seems to be a bit of confusion regarding the meaning of the term. Many of you may assume both an entrepreneur and an intrapreneur have the same responsibilities. This may be true to a certain extent as they tend to share some similarities. But on the large, both entrepreneur and intrapreneur are different from each other.
The Difference Between An Entrepreneur And An Intrapreneur
Both the positions may share some similarities with each other but then at the same time they are also different from each other.
You must have gone through the terms entrepreneurship and intrapreneurship many times. Though both of these terms are almost similar, there are great differences between the two. Entrepreneurship and intrapreneurship both are related to the same field. Here are the basic differences between the two.
1. The main difference between entrepreneurship and intrapreneurship lies in its definition. When we speak about entrepreneurship, it means an individual and independently owned business where the entrepreneur himself take the leadership to control the organization or the company. On the other hand, intrapreneurship is where a person is an employee of an organization and serves it to reach the company goals.
2. In entrepreneurship, the owner spends and allows the respective amount of money to develop and grow the organization. But when it comes to intrapreneurship, the employees are hired and paid according to their respective job positions.
3. Entrepreneurship runs with the idea and money of the entrepreneur himself. The intrapreneurship function is to follow, innovate, and find out new ideas to make the dream of entrepreneurship come true.
4. An entrepreneur controls and uses his resources or find out for the resources to get resources. On the other hand, the intrapreneurship uses the organization's resources and needs to record the full budget for the actual documentation for the future.
5. An entrepreneur is responsible for the actual growth and creation of new projects, acceptance, hiring policies, remuneration, and everything. Fundraising is one of the main activities of the entrepreneur. In the case of intrapreneurship, the individuals are responsible for following the policies and terms of the agreement made by the company. The employees are not directly responsible for collecting funds for the company.
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