Unleash Innovation: PGDM Programs & The Rise of Intrapreneurship

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The Rise of the Intrapreneurship: How PGDM Programs Foster Innovation and Creativity within Organizations

24 Jun 2024
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Have you ever encountered a colleague who stands out not just for their efficiency, but for their remarkable dedication? Someone who doesn’t need constant supervision, consistently over-delivers, and extends a helping hand to other teams with valuable insights? While many work for a paycheck, these driven individuals operate as if the company were their own, embodying a sense of ownership and commitment that sets them apart. Who are these people? What fuels their exceptional drive? How can they inspire the rest of the team?

Someone capable of acting like an entrepreneur with the backing of their company by discovering, evaluating, and exploiting new business opportunities..
~ Gifford Pinchot (1985), the father of the term, and author of a white paper called ‘Intrapreneuring’.

In recent times, the business world has increasingly recognized the value of entrepreneurial innovation, leading to a greater focus on attracting and investing in employees who demonstrate these skills internally.

Organizations need the creativity and innovation of an entrepreneur in an intrapreneur

A study by McKinsey revealed that the average lifespan of companies listed in the S&P 500 Index was 61 years in 1958, but today, a company’s lifespan is typically less than 18 years. The study further predicts that by 2027, 75% of the current S&P 500 companies will be vanished entirely.

This research highlights that a business’s successful strategies today may not remain effective in the future. With continuous investment in creativity and innovation, and the professionals who excel in this realm, companies can stay relevant in the market.
Why?

As employees, intrapreneurs are dedicated to driving creation and change within a company. Their role involves innovating with new ideas, projects, and processes, occasionally bending the rules and going beyond standard protocols to foster the company’s evolution and growth.

Intrapreneurs work and lead with the producer mindset. They run their department, team, or company with an abundance mentality, an attachment to true principles, and a fearless and informed faith in people and quality..
~ Oliver DeMille, business author, educator, and speaker.

By investing in in-house innovators, companies are essentially investing in their future. The value intrapreneurs bring has become crucial for the company’s long-term survival and success.

The perks of having intrapreneurs in an organization

Here’s a list of all the benefits of intrapreneurship, making it easier for you to understand why it’s no surprise for companies leveraging intrapreneurship in 2024.

Boosted Employee Morale and Productivity
- With a deeper sense of purpose, employee morale and productivity increase as employees seek to innovate, solve problems, and grow individually.
Attraction of Top Talent
- The chance to innovate and make an impact in the workplace is a compelling benefit, enabling the attraction of top talent.
Enhanced Employee Retention
- Employees who have a voice and contribute to new opportunities and ideas are more likely to be engaged, satisfied, and less inclined to leave.
Increased Organizational Revenue and Growth
- While new ideas come with challenges and failures, a steady stream of innovative concepts will help organizations grow, expand into new industries, and achieve significant success.
Company-Wide Focus on Innovation
- A culture of intrapreneurship fosters a more supportive environment. Employees will feel empowered by leadership to take bold initiatives.
Improved Agility
- In a fast-moving world, agility is crucial. Intrapreneurship offers this quality as teams anticipate future trends, build forward-looking solutions, and think creatively.
Optimal Use of In-House Talent and Knowledge
- Intrapreneurship taps into the qualities, skills, and knowledge of the existing workforce, potentially creating top innovators within the company.
It does not end here! This is just the tip of the iceberg! There are multiple ways in which having intrapreneurs on board can prove to be beneficial for the company.

Some of them are –

Attracting Top Talent Through Intrapreneurship

Companies that foster intrapreneurship are viewed as having innovative and creative qualities that attract many job seekers, especially Millennials. This generation, known for its entrepreneurial spirit, sees intrapreneurship as a major draw. In a 2021 study, 39% of Millennials were identified as having a high entrepreneurial spirit, compared to 29% of Gen Z. By 2025, Millennials will comprise nearly 40% of the workforce, making it crucial for organizations to build a foundation of intrapreneurship now. Additionally, promoting intrapreneurship demonstrates that you value and listen to your employees, a trait highly valued by potential hires.

Boosting Employee Morale and Productivity

Intrapreneurship significantly enhances employee morale and productivity. According to Gallup, engaged employees are more productive and less likely to leave. However, 65% of the US workforce is not engaged, highlighting a critical need for inspiration. Intrapreneurship meets this need by encouraging creativity and out-of-the-box thinking, thereby inspiring employees. This engagement aligns employees with business goals, making their work more meaningful and providing greater autonomy, which further boosts productivity and well-being.

Enhancing Employee Retention

Happy employees are less likely to leave, and intrapreneurship plays a vital role in this. By empowering employees to pursue their passions and develop skills in leadership, creativity, and problem-solving, intrapreneurship creates more meaningful work experiences. LinkedIn’s November 2023 survey found that 53% of employees were likely to leave their current jobs, underscoring the importance of retaining talent through engaging work.

Driving Company Revenue and Growth

Intrapreneurship facilitates innovation, uncovering new ways to improve efficiency and develop new products and services. This agility allows organizations to quickly capitalize on market opportunities, fostering growth and establishing industry leadership. Companies like Apple have achieved immense success through an innovative culture, demonstrating the powerful impact of intrapreneurship.

Encouraging Widespread Innovation

Innovation often starts with a few intrapreneurs who can influence the broader workforce. To harness the full benefits of intrapreneurship, it’s essential to encourage these innovators to involve others and share their successes. Showcasing the achievements of intrapreneurs underscores the value of innovation, motivating the entire organization to embrace new ways of working and drive transformation.

Become a creative and innovative intrapreneur!

Here’s a captivating story of Sony’s intrapreneur Ken Kutaragi & PlayStation.

Ken began his career at Sony in Japan in 1975 as an electrical engineer at Sony Sound Labs. His interest in gaming technology was sparked when he bought a Nintendo game console for his daughter and noticed the sub-par sound quality. He realized that a digital chip dedicated to sound could significantly enhance the gaming experience.

While maintaining his position at Sony, Ken worked as an external consultant for Nintendo, developing the SPC7000 sound chip for their games. His work eventually led to the development of a CD-ROM-based system for Nintendo. However, when Nintendo opted not to pursue the CD-ROM system, Ken identified a market opportunity for Sony in the gaming sector.

Ken’s intrapreneurial spirit drove him to advocate strongly for Sony’s entry into the electronic gaming industry. Despite opposition from senior management, Sony’s CEO at the time, Chairman Ohga, recognized Ken’s innovative mindset and supported his vision. This backing allowed Ken to lead the development of what would become the PlayStation.

The PlayStation was a tremendous success, capturing a significant portion of the gaming console market and selling over 70 million units by the late 1990s. By 1998, the PlayStation contributed to 40 percent of Sony’s operating revenues, cementing its place as a major player in the gaming industry.

Insane, isn’t it?
Are creativity and innovation innate, or can they be developed too?

Well, there are management programs like the PGDM (Post Graduate Diploma in Management) that are centred around developing concepts like innovation, developing problem-solving skills, creativity, Design Thinking, crisis management, and Business design. The curriculum of this program is also industry-relevant making them one of the most popular choices for those seeking cutting-edge management education.

That being said, the program alone might not move mountains. It is also the B-school that you must keep in mind before enrolling!

Among the top MBA colleges in India, SOIL Institute of Management’s 2-year PGDM program represents a bold and transformative approach to management education. It is designed to cultivate business leaders who excel in problem-solving and creativity.
How?

The program emphasizes Design Thinking and Innovation, offering a specialization in Business Design alongside traditional specializations in Marketing, Analytics, Human Resources, and Finance.
To learn more about SOIL’s PGDM program, Download Brochure!

“SOIL Institute of Management has put together a curriculum for their 2 year MBA – PGDM in Business Design which will prepare graduates for the modern business world.”

– Anil Sachdev
Founder & CEO, SOIL

Curriculum & Learning Design

5

Experiential
Immersions

400+

Hours of Course
fieldwork

30%

Outside the classroom experiences

The PGDM experiential learning immersion is meticulously crafted by the program committee to provide students with the opportunity to explore corporate life while studying. Students engage in live projects, assessing the real-world impact of their solutions. Each semester includes at least one experiential activity, ensuring continuous practical learning.

Check out the curriculum structure for the PGDM Program designed by SOIL.

FAQs
What is the importance of intrapreneurship?

Intrapreneurship is crucial as it boosts employee morale and productivity, attracts top talent, enhances employee retention, drives company revenue and growth, and fosters a culture of innovation. By investing in intrapreneurs, companies ensure they are continuously evolving and staying competitive in the market.

What is innovation in intrapreneurship?

Innovation in intrapreneurship involves creating and implementing new ideas, projects, and processes within an organization. Intrapreneurs take the initiative to develop unique solutions and improve existing operations, contributing to the company’s growth and success.

How does intrapreneurship help innovation?

Intrapreneurship fosters a culture of creativity and problem-solving, encouraging employees to think outside the box and develop innovative solutions. This approach leads to continuous improvement and helps organizations stay ahead of industry trends and challenges.

How to use entrepreneurial creativity for innovation?

Entrepreneurial creativity can be harnessed by providing employees with the autonomy to explore new ideas, encouraging risk-taking, and supporting a collaborative environment. Organizations can also offer training and resources to help employees develop their creative skills and apply them to real-world challenges.

How are innovation and creativity exercised by intrapreneurs?

Intrapreneurs exercise innovation and creativity by identifying opportunities for improvement, developing new products or services, and streamlining processes. They often challenge the status quo, experiment with novel approaches, and inspire their colleagues to think creatively and contribute to the company’s success.

What is the relationship between innovation and intrapreneur?

The relationship between innovation and intrapreneurship is symbiotic. Intrapreneurs drive innovation within an organization by continuously seeking ways to enhance products, services, and processes. Their entrepreneurial mindset and proactive approach ensure that the company remains dynamic and competitive.

What is the role of an intrapreneur in organizational growth?

Intrapreneurs play a pivotal role in organizational growth by spearheading new initiatives, improving efficiencies, and driving strategic change. Their efforts result in the development of innovative solutions that can open up new markets, increase revenue, and ensure the long-term sustainability of the company.

How might a company encourage intrapreneurs to contribute innovative ideas?

A company can encourage intrapreneurs by creating a supportive environment that rewards creativity and risk-taking, providing opportunities for professional development, and establishing platforms for idea-sharing. Regularly recognizing and celebrating innovative contributions also fosters a culture of continuous improvement.

What is the difference between intrapreneurship and entrepreneurship?

Intrapreneurship involves employees within an existing organization who innovate and drive change, leveraging the company’s resources and support. Entrepreneurship, on the other hand, refers to individuals who create and manage their own business ventures, taking on financial risks to bring their ideas to market independently.

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What is the importance of intrapreneurship?

What is innovation in intrapreneurship?

How does intrapreneurship help innovation?

How to use entrepreneurial creativity for innovation?

How are innovation and creativity exercised by intrapreneurs?

What is the relationship between innovation and intrapreneur?

What is the role of an intrapreneur in organizational growth?

How might a company encourage intrapreneurs to contribute innovative ideas?

What is the difference between intrapreneurship and entrepreneurship?

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PGDM Batch 2025-27 Orientation Start Date - 20th June 2025

5

400+

30%

What is the importance of intrapreneurship?

What is innovation in intrapreneurship?

How does intrapreneurship help innovation?

How to use entrepreneurial creativity for innovation?

How are innovation and creativity exercised by intrapreneurs?

What is the relationship between innovation and intrapreneur?

What is the role of an intrapreneur in organizational growth?

How might a company encourage intrapreneurs to contribute innovative ideas?

What is the difference between intrapreneurship and entrepreneurship?

Never miss a beat. Get Blog updates regularly in your inbox

PGDM Batch 2025-27 Orientation Start Date - 20^th June 2025