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Intrapreneurship & Entrepreneurship

Essay by   •  April 26, 2012  •  Research Paper  •  1,074 Words (5 Pages)  •  2,613 Views

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Part 1: Product Idea

Using the Unit 1 product example from your Discussion Board, begin your paper with the following:

* What is your product, and why do you feel the product you have selected is innovative within its industry?

* How was the product introduced to the market, and which approach was used--entrepreneurship or intrapreneurship?

* Give a description of 2 advantages, 2 disadvantages, or 2 challenges resulting from using the particular approach?

Part 2: Business Model

Then, create a scenario that illustrates what might have happened had the following occurred:

* The intrapreneurial product been brought to market through entrepreneurship.

* The entrepreneurial product been brought to market through intrapreneurial means.

* Explain the different risks, skill sets, organizational assets, funding, and keys to success that would have been necessary to accomplish this different approach.

Introduction

A need to make old products better and make them like new again, brings entrepreneurs with new innovative ideas and make sure they are careful when creating their business approach to succeed in the market. They must make the decision between Intrapreneurship and entrepreneurship to help their items be successful and if they can take the time out and see if they can sacrifice money and time.

Air Grill's innovative product

The reason Air Grill is an innovative product is because it takes a product that is old and make it better by redesigning it to be better than its predecessor. The first fire bellow was created with two pieces of flat wood boards that are put together with a piece of leather that acted as a lung to gather and blow air. The Air Grill does not look like the old fire bellow but it looks, performs, and feels different than the older blower. The Air Grill looks similar to a fishing reel and does not hold air, rather than pump air back and forth like the bellow does, just turn the reel and it will give a constant flow of air as long as the reel is being turn (Air Grill, 2010).

Air Grill Entrepreneurs

Because of the passion of entrepreneurs going out camping, lead to the creation of the Air Grill. The Air Grill was brought into the market in 2004, and quickly became popular with campers and brought their sales from just the website to other retailers, mail order catalogs, and hardware stores in America (Air Grill, 2010).

Advantages of Entrepreneurship

There are two advantages to entrepreneurship that have helped the Air Grill in its creation. The success of the business come from the inventors of Air Grill, even though there are challenges in getting a business started, the Air Grill inventors have found success with the campers and barbequing field. The success is not shared as this was an entrepreneurial endeavor as to an intrapreneurial approach where the success is shared. Having independence as an entrepreneur was a good advantage for the Air Grill innovators, as they look for new designs or create products that help people enjoys camping and barbequing (Lambing & Kuehl, 2007). The entrepreneurs realized a need and invented a product that will cut the time it takes to start a fire when camping or barbequing. Though both

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