Lecture Contest: The Entrepreneurial and Intrapreneurial Mind (Lesson 05)

GOOD AFTERNOON

I hope everyone would be fine and how was your day.I am here to particaipate in the contest which has a topic Lecture Contest: The Entrepreneurial and Intrapreneurial Mind (Lesson 05) and this most informative contest was organized by the posting community is Steem Entrepreneurs.I am very thankful for organizing this contest for us.I will try to write this post in a good way because all my friends can understand it easily.

So lets go to the contest,

[desinged by canva]

Differences Betweens Entrepreneurial and Managerial Decision Making Styles.

Entrepreneurial and the managerial decision making have styles differ to primarily in the focus and to approach. Entrepreneurs can tend to take more risks or emphasizing innovation and a growth. Their is decisions are often to quick driven by the need to the seize of opportunities and they were rely on their vision for a long term success. Entrepreneurs are an comfortable with the uncertainty and to make a decisions with an a limited data that is trusting their instincts to guide with them.

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In the contrast managerial decision that making is more to structured and for conservative. Managers that are focus on the maintaining stability and an efficiency within a existing operations. They are typically rely on the data analysis that established processes and a collaboration with a teams to minimize risks. Managers to make decisions to based on the resources and that is constraints available for aiming to optimize the performance rather than a disrupt in the status quo.

While an entrepreneurs prioritize for the exploration and new ventures or managers emphasize control and consistency and incremental that improvements within an organization. Both the styles are an essential but suited to a different phases of the business development.

Why Companies Like Xerox Foster Intrapreneurship.

Encouraging Innovation and the Competitiveness:

Companies like an Xerox foster intrapreneurship to the drive innovation and to stay competitive in fast changing of markets. Employees act as the entrepreneurs that promoting a new ideas that can lead to the breakthrough products or a services.

Harnessing Employee Creativity:

By an encouraging intrapreneurship the Xerox taps into the creativity and an talent of its workforce that allowing for internal growth without any relying on the external sources for an innovation.

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Retaining Top Talent:

Intrapreneurship helps to retain the talented employees by making them to feel empowered and that motivated in to contribute the meaningfully to the companys success.

Reducing Stagnation:

A culture of the intrapreneurship ensures that the company can remains a dynamic constantly exploring to the new solutions and an preventing stagnation.

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Adaptability and Growth:

This approach can allows the companies like Xerox to adapt to the market that demands while still utilizing their existing in resources and to expertise efficiently.

What are the four key elements of intrapreneurship and how do they help businesses grow?

Four important Key Elements of the Intrapreneurship:

1. Innovation:
   Encourages the employees to develop a new ideas and the solutions for leading to fresh products or a services that can be expand business offerings.

2. Risk-Taking:
   Intrapreneurs are the empowered to take a calculated risks which can be lead to breakthroughs and a competitive advantages.

3. Autonomy:
   Giving the employees independence fosters to creativity and a quick decision making or speeding up the innovation for process.

4. Resource Support:
   Providing resources like a funding and time to ensures that the intrapreneurial projects have the tools that needed for success.

These elements can help the businesses to grow by driving innovation or adapting to the market changes and to creating the new revenue streams.

I am inviting my friends,

@sana-khan01,@pandora2010 and @sohanurrahman.

I am very thankful for reading my post.

@isha-rehman

Allah Hafiz