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Jeff Bezos, the founder of Amazon, in Amazon’s 2018 year-end financial addressed to all the stakeholders, clearly stated that “One thing I love about customers is that they are divinely discontent.” Adding more to his address, he said, “people have a voracious appetite for a better way, and yesterday’s ‘wow’ quickly becomes today’s ‘ordinary’. I see that cycle of improvement happening at a faster rate than ever before.” Bezos further identifies three major company principles that drive Amazon to be both innovative and intrapreneurial in their approach to growth. These three factors are:
The above-mentioned work principles are at the core of Amazon’s corporate entrepreneurship. Every market initiatives, products and services launched from the Amazon stable bears this sense of great value and trust derived from the corporate spirit of promoting in-house entrepreneurs.
Amazon Case Study - Let’s take a look at the case study on Amazon’s Drone Deliveries.The brainchild behind this whole new delivery mechanism was Daniel Buchmueller, the co-founder of Amazon Prime Air. An engineering evangelist with multiple patents, Daniel spearheaded the drone project leveraging Amazon’s resources to develop this drone delivery concept. To facilitate speedy prime deliveries, Amazon started testing the drone for deliveries way back in 2013.
After a lot of research and back-end work, the company finally filed its petition for FAA approvals in 2019. The basis for such innovation was to make the deliveries seamless and speedy for prime customers staying in outskirts and areas with low population density. It was in August 2020 last year that the company received its Federal approval to establish a drone delivery fleet.
From the above case study, it can be safely concluded that survival and success depend on how well an organization adapts to the changing dynamics of the market. Here are the top ways in which companies greatly benefit from intrapreneurship.
With market competition intensifying every moment and shifting customer priorities, how can an enterprise create an environment that enables innovators and entrepreneurs to continue to research and create?
Here are some of the best ways that can be adopted by enterprises to foster in-house entrepreneurs.
One might wonder how opting for an academic course like SURGE (Successful Renewal in Growing Enterprises) strengthen the entrepreneurial spirit within an organization. It is important to consider that SURGE is a corporate entrepreneurship programme developed by IIM Calcutta and IIM Calcutta Innovation Park .This programme establishes a deep connection between individual entrepreneurship and one's role within an organizational setup. Those enrolling for the course get a first-hand understanding of how an entrepreneur can generate a new business case whilst working within the scope of his role. Furthermore, entrepreneurs get all the access to toolkits required to drive entrepreneurial endeavours within the organization. So, encouraging managers and employees to enrol for this course and support them while they are pursuing it can be the greatest game-changer for an organization.
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