Entrepreneurship, Intrapreneurship and Social Entrepreneurship

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“Entrepreneurship, Intrapreneurship and Social Entrepreneurship”
Abstract
The paper is going to analyse the meaning of entrepreneurship in the business environment. It is going to
further evaluate three different types of entrepreneurship used by people worldwide. Independent
entrepreneurship is the simplest form of entrepreneurship that works with a profit-making motive,
Intrapreneurship is dependent entrepreneurship and social entrepreneurship works for a social cause.
Furthermore, the paper is going to evaluate similarities and differences between the three types of
entrepreneurship on the basis of four pillar of entrepreneurship.
Introduction
The purpose of this essay is to enlighten the reader about the facts related to entrepreneurship present in
the environment. Entrepreneurship refers to the act of creating a business or businesses while building and
scaling it to generate an optimum amount of profit. In the process of entrepreneurship, a person organizing
a new start-up is called an entrepreneur who makes use of available market opportunities along with
optimum amount of risks to grow and succeed in the target market. Further, the below mentioned paper is
going to evaluate the three different types of entrepreneurship present in the environment that are
independent entrepreneurship, intrapreneurship and social entrepreneurship. Along with this, it also
discusses about the four key dimensions of entrepreneurship and its similarity and differences as well.
Further, it should be noted that an entrepreneur differentiates itself from a business by adequately
capturing the right amount of risks for the business and changing them into opportunities to progressively
grow in the target market. Further, the four dimensions of entrepreneurship explain difference in
similarities in each of the process of entrepreneurship (Kirzner, 2015). More details about the paper are
discussed below:
Independent Entrepreneurship
There is as such no particular definition about independent entrepreneurship in the legislation. It refers to
the entrepreneurship activities of private or independent firms where the entrepreneurship process is most
important. Independent entrepreneurship contributes to the economy of nation in terms of providing
flexible jobs and value added initiatives in the environment. In the process of independent
entrepreneurship a person is obliged to work for their profits and losses, their growth rate is not dependent
on the actions of any other source. Independent entrepreneurship is the most basic form of
entrepreneurship under which an entrepreneur makes use of opportunities and risks present in the
environment to grow and succeed as well (Dees, 2017). A person opening his own new start-up by using
resources and capabilities present in the environment can be called as an independent entrepreneur. This
type of entrepreneur is not dependent on any other person or source for the growth of the business.
Intrapreneurship

Further, intrapreneurship refers to the act of behaving like an entrepreneur while working in large
organizations. Under intrapreneurship, an employee makes use of brainstorming ideas to help the
organization grow and succeed in the international market. Intrapreneurship is practice of corporate
management style that makes use of risk taking and innovative approaches in the business. This type of
entrepreneurship style make the employee work innovatively but not for their own organization but for the
organization in which they work (Kuratko, 2016). That is why this type of entrepreneurship is called
dependent entrepreneurship as the employees innovating the business structure are dependent on the top
level management of the company. An intrapreneur present in an organization only focuses on the
transforming the business functions so as to attain profitability and innovate the organizational
environment as well. The biggest example of this type of entrepreneurship is Wipro Company under
which a small vegetable company became a software outsourcing powerhouse. An intrapreneur is both
leader as well as an employee for the organization (Burns, & Dewhurst, 2016).
Social Entrepreneurship
Additionally, social entrepreneurship refers to the process of using start-up companies and other
entrepreneurs to develop resources and funds for a social cause. An entrepreneurship without a profit
making means is called social entrepreneurship. This type of entrepreneurship is initiated for a social
cause only. This type of concept is applied on different organization irrespective of their size,
organizational structure, culture etc. A for profit entrepreneur measure its growth through the prices of the
stock, profitability, investment, capital value etc. but in case of social entrepreneurship, a social
entrepreneur measure its growth through the completion of positive goals organized by the company
(Read, Sarasvathy, Dew, & Wiltbank, 2016). Further, profit making social organizations might be
established to support the social as well as cultural goals of the organization but not as an end in itself. For
instance, a company that aims to provide home, shelter and employment services to homeless people may
organize a restaurant to complete its objective to provide employment by raising funds as well
(Burkholder, Stam, & Hulsink, 2016).
Four Pillars of Entrepreneurship
The fact should be noted that different types of entrepreneurship activities present in the environment are
based on four pillars that are environment, people, process and outcomes. The above mentioned three
types of entrepreneurship are also differentiated in the environment based on these four pillars only. The
environment pillar explain the organizational system or culture in which different types of
entrepreneurships are favourable to work. Further, the person aspect explain the right type of personality
trait required for becoming an entrepreneur in the environment as a businessperson can never become an
entrepreneur and an entrepreneur can never act as a business person in the society (Gawke, Gorgievski, &
Bakker, 2017). The third aspect is process that requires analysing the different types of process organized
by different types of entrepreneurs in the business society. Lastly, the fourth aspect of outcome analyse the
result of different types of entrepreneurship present in the environment. Furthermore, elaboration of