Intrapreneurship: A New Lens on Developing Capability in the Rising Generation

Protecting all forms of family enterprise wealth across generations is increasingly challenging and complex, and yet vitally important, not only to the families who own enterprises but to the communities in which they operate and the broader global economy. If enterprising families hope to maintain their relevance, they must anticipate change, innovate their enterprises, and ensure the rising generation is positioned to succeed, with the right skills and capabilities to collaborate and manage transitions effectively. Therefore, families need to foster a new form of intrapreneurship in their enterprises, one that includes a broad-based owner’s mindset well beyond the typical “business-only” thinking. This chapter provides a comprehensive description of this type of intrapreneurship, identifies why being intentional about such development within the family enterprise matters, and offers practical suggestions for how families might go about developing intrapreneurial capability across generations. The concepts and ideas in the chapter are illustrated through a case example with the Stevensons who have a highly successful business, but haven’t yet delegated much leadership responsibility to the next generation despite the founders being in their mid-60s. The chapter explores how the Stevensons have recently committed to taking a more intrapreneurial approach, with the help of outside resources.