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Explain the term ‘intrapreneur’ - Leaving Cert Business - Question (A) (i) - 2010
Question (A) (i)
Explain the term ‘intrapreneur’. An intrapreneur engages in entrepreneurial activity/comes up with new ideas within the business in which s/he is employed. Intrap... show full transcript
Worked Solution & Example Answer:Explain the term ‘intrapreneur’ - Leaving Cert Business - Question (A) (i) - 2010
Step 1
Explain the term ‘intrapreneur’
Answer
An intrapreneur is an employee within a company who takes on entrepreneurial tasks, acting as a catalyst for change and innovation within the organization. Unlike traditional entrepreneurs who manage their own businesses, intrapreneurs work within existing companies and leverage the company's resources to develop new ideas, products, or processes. They are granted the freedom to think creatively and take risks in pursuit of projects that can lead to business growth and success.
Step 2
Illustrate, using examples from the above text, how ‘intrapreneurship’ benefits Castlewest Hotel and Conference Centre.
Answer
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Recent Success: David Jones, the Head Chef, was recognized as 'Employee of the Month' for introducing a popular 'Lunch to Go' menu, demonstrating how intrapreneurship fosters innovation in food services.
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New Products/Markets Identified: Intrapreneurs are pivotal in identifying new products and services that enhance business offerings. For instance, employees constantly seek ways to improve hotel operations and guest experiences.
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Business Growth/Success/Profitability: Employees like Judy O’Brien, the Assistant Manager, provide regular updates on new procedures that enhance operational efficiencies, thus contributing to the hotel's growth and profitability.
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Workplace Improvement: By encouraging staff to suggest ideas for improvements, the hotel creates a more engaged workforce. This involvement not only improves staff motivation but also enhances the overall efficiency and service quality of the hotel.