Question

4:42 11 46 Back Quiz 3 Time left 00:27:... > W.L. GORE Idea: W.L Gore (who most people know from Gore-Tex fabric) gives employees "dabble time" or 10% of their work day to develop new ideas and work on personal projects. One employee, Dave Myers, identified that one of their products, PTFE a coating for push-pull cables, could be used for comfortable to use guitar strings. Benefit: The coated strings proved to only be marginally more comfortable but they kept their tone longer than conventional guitar strings. After W.L. Gore launched them under the brand name ELIXIR Strings, they are now the No. 1 selling acoustic guitar string. Question: (04 + 06 = 10 Marks) What are the differences be 'Entrepreneurship' and 'Intrapreneurship'? Read the above case to find the intrapreneur to describe the characteristics of that intrapreneur according to the case.

Answer 1

Entrepreneur and Intrapreneur share similar qualities like Conviction, Creativity, Zeal and Insight. Mostly, these two terms are used interchangeably. However, they are different.

Entrepreneur is a person who takes a considerable amount of risk to own and operate the business, with an aim of earning returns and rewards, from that business. He is the most important person who envisions new opportunities, products, techniques and business lines and coordinates all the activities to make them real. On the contrary, an Intrapreneur is an employee of the organization who is paid remuneration according to the success of the business unit, for which he/she is hired or responsible.

The primary difference between an entrepreneur and intrapreneur is that the former refers to a person who starts his own business with a new idea or concept, the latter represents an employee who promotes innovation within the limits of the organization.

Case Study:

In the given case W.L.Gore is the Entrepreneur (since he started his own business with his own idea / concept) and Dave Myers is the Intrapreneur (since he is an Employee who thinks innovatively for W.L.Gore's Company).

Dave Myers identifies innovatively that one of their products, ePTFE a coarting for push-pull cables, could be used for comfortable to use guitar strings and which also keep their tone longer than conventional guitar strings.