What is 'intrapreneurship'?

Intrapreneurship refers to the practice of fostering an entrepreneurial spirit within a large organization. This concept encourages employees to act like entrepreneurs while operating within the structure of the organization. By giving employees the freedom to innovate and create new products or services, companies can harness internal talent and ideas to drive business growth and adaptation in a rapidly changing market.

This approach not only motivates employees by allowing them to take ownership of their projects but also leads to the development of innovative solutions that can significantly benefit the organization. Intrapreneurship is crucial for companies looking to maintain a competitive edge and can lead to enhanced employee engagement and satisfaction by valuing their contributions and enabling creativity within the corporate framework.

The other options do not accurately capture the essence of intrapreneurship. Investing in external startups, closing down underperforming departments, and strategies for maintaining employee satisfaction are distinct practices that do not reflect the core idea of fostering innovation internally as intrapreneurship does.