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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 refers to the entrepreneurial activities that take place within a business organization. It involves employees who generate new ideas and take personal responsibility for their implementation, which may lead to profitable results for the organization.
Intrapreneurs are characterized by being innovative, creative, and resourceful. They actively seek opportunities to grow and enhance the business by improving processes or developing new products, all while mitigating financial risk typically associated with entrepreneurial ventures.
Step 2
Outline methods of promoting intrapreneurship in EducaPrint Ltd.
Answer
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Empowerment: Encouraging employee participation allows staff to take control of their work by giving them authority and responsibility. This fosters creativity since employees can explore innovative solutions.
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Create a culture that encourages risk-taking: By establishing an organizational culture where making mistakes is acceptable, employees feel more secure to propose new ideas without fear of failure. John O'Leary's leadership could support this mindset.
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Financial rewards for creativity: Offering financial incentives for innovative ideas can motivate employees to contribute creatively to the business. Profit-sharing or bonuses for successful initiatives can be effectively utilized.
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Teamwork: Fostering collaboration among employees can spark creative thinking. A supportive environment encourages sharing and refining ideas as a team.
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Resource provision: Allocating resources for innovation projects enables employees to develop their ideas without constraints. This could include access to tools, mentorship, and training.
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Training program: Implementing training sessions for both employees and management on how to foster an intrapreneurial culture can better equip them to contribute and support innovation in the company.