PGDM develops an intrapreneurial mindset for effective leadership roles

The business world increasingly recognises the importance of fostering entrepreneurial innovation within organisations, emphasising the need to attract and invest in employees with intrapreneurial skills.

What is ‘Intrapreneurship’?

While many work for a pay cheque, some professionals distinguish themselves through their unwavering dedication. These motivated individuals, or ‘intrapreneurs’, demonstrate a sense of ownership, setting them apart.

The top 5 advantages of having intrapreneurs in an organisation

Here are the key benefits of intrapreneurship and why companies are leveraging it in 2024:

• Attracting top talent through intrapreneurship

  Companies nurturing intrapreneurship are perceived as innovative and creative, attracting to job seekers, especially Millennials. A 2021 study showed 39% of millennials possess a strong entrepreneurial spirit compared to 29% of Gen Z. With Millennials expected to make up nearly 40% of the workforce by 2025, fostering intrapreneurship is vital. It also demonstrates a commitment to valuing employees, a trait appreciated by potential hires.

• Boosting employee morale and productivity

  Intrapreneurship enhances employee morale and productivity. Gallup reports engaged employees are more productive and less likely to leave, yet 65% of the US workforce remains disengaged. Intrapreneurship fosters creativity and innovation, aligning employees with business goals, making work meaningful, and granting greater autonomy, thus boosting productivity and well-being.

• Enhancing employee retention

  Intrapreneurship improves employee satisfaction and retention, by empowering them to pursue passions and develop leadership, creativity, and problem-solving skills. A November 2023 LinkedIn survey revealed 53% of employees were considering leaving their jobs, highlighting the need for meaningful work.

• Driving company revenue and growth

  Intrapreneurship enables organisations to quickly seize market opportunities, driving growth and establishing industry leadership. Companies like Apple exemplify the success of an innovative culture.

• Encouraging widespread innovation

  Innovation often begins with a few intrapreneurs. Encouraging these innovators to involve others and share achievements highlights the importance of innovation, motivating the entire organisation to adopt new approaches and drive change.

The Indian intrapreneur behind HUL’s intrapreneurial culture!

In September 2008, the collapse of Lehman Brothers and the global financial crisis hit HUL hard, stalling performance and dropping its share price. Despite this, Nitin, empowered by the company’s intrapreneurial culture, set bold new goals. He aimed to add 500,000 points of sale (PoS) per year, focusing on remote areas, despite HUL’s existing 1 million PoS points of sale and 15,000 annual expansions. This led to a strategic partnership with TATA Docomo to distribute SIM cards in rural India while cutting costs.

Becoming an intrapreneur involves taking risks and driving innovation within an organisation. The Post Graduate Diploma in Management (PGDM) supports this by emphasising skills such as innovation, crisis management, leadership, and design thinking, making it popular for advanced management education.

The success of management programmes depends on the institution offering them. S.P. Jain Institute of Management and Research (SPJIMR), India’s no.1 ranked private B-school by the Financial Times MiM Rankings 2023, offers a two-year PGDM that takes a transformative approach to management education.

SPJIMR achieves this by advancing ‘wise innovation’, a purposeful and impactful approach to innovation. It involves a deep understanding of the broader effects of innovative efforts, crucial for becoming a successful intrapreneur and business leader.

Approved by AICTE and accredited by NBA and AMBA, SPJIMR’s PGDM is consistently among India’s top 10 management programmes. It blends classroom learning with immersive experiences, live projects, industry engagements, and simulations. This comprehensive approach develops leadership and intrapreneurship skills through intellectual humility, reflection, contextualisation, compassion, and responsible action.

The PGDM programme helps participants develop professional skills, set career goals, and prepare for industry engagement. The Global Fast Track (GFT), an International Immersion programme, offers experiential learning at top global business schools and exposure to multinational organisations, enabling students to become global thought leaders and successful intrapreneurs.

Learn more about the innovative pedagogy of the PGDM programme!