Interest in intrapreneurship has resulted from events occurring on social, cultural, and businesslevels.There is an increasing interest in doing your own thing. Individuals frequently desire to createsomething of their own. They want responsibility and want more freedom in their organizations.Frustration can develop and result in the employee becoming less productive or leaving theorganization. This has recently caused more discontent in structured organizations. Whenmeaning is not provided within the organization, individuals often search for an institution, suchas entrepreneurship, that will provide it.Intrapreneurship is one method for stimulating and capitalizing on those who think thatsomething can be done differently and better, such as Xerox Corporation’s commitment to XeroxTechnology Ventures.It is important to instill the intrapreneurial spirit in an organization in order to innovate and grow.In a large organization problems occur that thwart creativity and innovation. This growth anddiversity that can result are critical, since large corporations are more efficient in a competitivemarket than are smaller firms. The resistance against flexibility, growth, and diversification canbe overcome by developing a spirit of entrepreneurship, called Intrapreneurship, within theexisting organization.There are social, cultural, and business pressures for Entrepreneurship. Hyper competition hasforced U.S. companies to focus on new product development and increased productivity.Reductions in large corporation’s staff are being absorbed in the workforce, particularly in smallbusinesses. Entrepreneurial endeavors consist of four key elements.1.2.3.4.KEY TERMSNew business venturing refers to the creation of new business within an existingorganization.Organizational innovativeness refers to product and service innovation with anemphasis on development and innovation in technology.Self-renewal reflects the transformation of organizations through the renewal ofthe key ideas on which they are built.Proactiveness includes initiative and risk taking, as well as competitiveaggressivenessAdministrative domainThe ways managers make decisionsBusiness planThe description of the future direction of the businessCorporate cultureThe environment of a particular organizationEntrepreneurial domainThe ways entrepreneurs make decisionsEntrepreneurial processThe process through which a new venture is created by an entrepreneurEntrepreneurial cultureThe environment of an entrepreneurial-oriented organizationEntrepreneurshipEntrepreneurship within an existing business organizationOpportunity identificationThe process by which an entrepreneur comes up with the opportunity for a new ventureOpportunity parametersBarriers to new product creation and developmentTop management commitmentManagers in an organization strongly supporting Entrepreneurship