An entrepreneur is someone who translates a creative thought into an innovative process, product, procedure, strategy or service. They are risk takers who trust their potential. They turn their creativity into reality by pursuing their dreams and transforming a vision into a strategic plan. They strike out on their own and build small businesses.

An intrepreneur is someone who displays the same characteristics as an entrepreneur but remains with an organization as an employee. They generate enterprise for the organization rather than for their own small business. In today?s workplace, the benefits of entrepreneurship can be combined with the economies of scale enjoyed by large organizations by cultivating a culture of intrepreneurship.

Like entrepreneurs, intrepreneurs:

? Take risks. They will try new methods, experiment with new ideas, present emergent thoughts, incubate new products and formulate novel procedures. They generally will be more adaptive and enjoy change. They are not always easy to manage, but they are valuable assets and well worth the effort. Leaders hoping to encourage intrepreneurship have to be both patient and flexible. Some days will seem like recess at a preschool, but imagination, excitement and motivation will result.

? Trust themselves. Intrepreneurs have confidence in their abilities and judgment. They will find solutions to problems and present their ideas with self-assurance. This allows the organization to tap into the full potential of the collective expertise and experience of the human resource.

? Learn from mistakes. When intrepreneurs fail there is a consequence, so they want to learn as much as they can from it. They will dissect the process and study the outcomes. There is no time for excuses and recriminations. There is only time to fix it, learn from it and move on.

People should be held accountable, but instead of a punitive atmosphere there should be an attitude of assessment and learning. This will encourage the kind of risk taking that progressive organizations need to thrive and grow. It will also take away the fear in the workplace that can inhibit communication, innovation and improvement.

? See opportunities. When problems come up, intrepreneurs will study the patterns and seek opportunities. Intrepreneurs are students of circumstances and will look for ways to increase business or improve the business they have. They will seek alternatives and work toward innovation.

? Display passion. Intrepreneurs love what they do, the product they sell, the organization they are a part of, the service they provide or all of the above. This leads to excitement and enthusiasm, which increases organizational loyalty and longevity.

? Provide a unique experience for their customers. Intrepreneurs identify with their company, its products and/or its services. They have a stake in shaping its form and know how to present it to customers with confidence, pride and assurance. This translates into a more global view of the organization, and customers will benefit from the personal interest of the Intrepreneur.

This inventory of characteristics is powerful. In the new workplace, leaders encourage their employees to think like entrepreneurs and run their departments like small businesses. It increases the sense of individual accomplishment and enhances the bottom line. Here are some positive steps to accomplish this:

? Encourage people who display the characteristics of the entrepreneur.

? Recruit people with entrepreneurial backgrounds.

? Provide incentives for creative ideas and release time for the development of new products and services.

? Generate a looser, free-flowing culture, where people are encouraged to take risks. Periodically declare a recess or sponsor retreats where brainstorming can occur and people can give birth to ideas.

? Encourage everyone to get involved in the activities of their department.

? Share financial data so that individuals can see the impact of their decisions on the bottom line.

? Promote people who take risks and learn from their mistakes.

But beware: employees who exhibit a predisposition to entrepreneurship can become frustrated in a medium-sized to large organization. Their creativity begins to wane under the structure of bureaucracy, and their zest for new ideas dissipates during the day-to-day routine of their jobs. Some people will strike out on their own and start new businesses. Some people will suppress their entrepreneurial spirit and deny their potential. Still others will never discover theirs. Engage the entrepreneurs in your organization. Transform them into intrepreneurs and harvest their positive energy.

Elaine Beaubien is professor of business at Edgewood College and CEO of Management Training Seminars ? www.elainetrain.com.