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EducaPrint Ltd is a business publishing schoolbooks in Ireland - Leaving Cert Business - Question A - 2013
Question A
EducaPrint Ltd is a business publishing schoolbooks in Ireland. John O'Leary, the Production Manager, suggested introducing some of its traditional print books in eB... show full transcript
Worked Solution & Example Answer:EducaPrint Ltd is a business publishing schoolbooks in Ireland - Leaving Cert Business - Question A - 2013
Step 1
Explain the term ‘intrapreneurship’.
Answer
Intrapreneurship involves entrepreneurial activity within the business where employees come up with new ideas and take personal responsibility, which may turn into profitable activities. Intrapreneurs tend to be inventive, creative, and innovative; they are constantly seeking opportunities for growth, enhancing the business, and improving business processes without jeopardizing financial risk.
Step 2
Outline methods of promoting intrapreneurship in EducaPrint Ltd.
Answer
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Empowerment: Encouraging employee participation fosters creativity by giving employees greater freedom on how to execute their jobs, enhancing their real power, responsibility, and authority.
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Create a culture: Establish an environment where it is okay to make mistakes. This helps employees to feel secure in their roles and more willing to innovate.
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Financial rewards for effort and creativity: Utilize a mix of pay, incentives, and benefits such as bonuses or profit-sharing schemes as a reward for innovation.
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Teamwork: Promote collaboration among employees through brainstorming sessions, which can enhance creativity.
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Resource provider: Ensure that resources are available to employees to pursue their innovative ideas. This involves allocating time and finances.
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Training program: Invest in training for employees and management to equip them on implementing an intrapreneurial culture within the business.