The financial crisis stemming from the subprime lending debacle in the United States has spread globally.

Indonesia may start feeling the pinch of the economic meltdown in the U.S. and in some European countries as early as next year, dragging down fairly outstanding growth in Southeast Asia's largest economy, according to experts.

Indeed, next year’s market will be definitely different from today’s and yesterday’s. Minister of Finance Sri Mulyani, in an investor gathering this week, revised the economic growth forecast for next year to between 4.5 percent and 5 percent from the Indonesian state budget target of 6 percent. Meanwhile, the state budget assumptions for the rupiah and inflation for next year are no longer feasible in view of the sharp depreciation of the rupiah against the dollar over the past several weeks. The budget assumed the rupiah at Rp 9,100 against the dollar and the year-to-year inflation at 6.2 percent.

Besides, increasing interest rates aimed to control inflation will be crimping consumption in the country of 220 million people and gradually will erode company’s profits.

Unquestionably this global economic turmoil is creating deep and substantial changes for companies in Indonesia . Managers have to be aware of these changing scenarios and they have to design strategies to jump out of this crisis.

Some big companies have already restructured their operations in fundamental and meaningful ways. These companies believe that “traditional managers” are not appropriate any longer during this crisis. Given the complex economic turmoil and hyper competitive markets, it is urgent for traditional managers to adopt innovative, creative and entrepreneurial approaches to jump out of the crisis and to get sustainable profits.

Hence “Manager-Intrapreneur” was born to perfect the old concept of traditional managers, whose scope of works is limited to planning, organizing, leading and controlling. Manager-Intrapreneur is a concept whereby companies behave entrepreneurially to become more competitive and productive in the marketplace. Every manager nowadays must equip himself with innovative thinking and entrepreneurial spirit Some companies already have entrepreneurial approaches before. The founder started the business with full of entrepreneurial spirit, but the spirit has slowly eroded under the weight of size, bureaucracy, complex processes and hierarchy. These companies often hunger for some of the spark, speed, risk taking bravery, and innovation, that they once had. Therefore, these companies should seek ways of reinventing or stimulating their entrepreneurial roots again. Manager-Intrapreneur is the answer. Manager- Intrapreneur encompasses a set of activities, attitudes, and actions that are believed to help companies recapture some of the lost magic. Both entities will be happier.

Companies that practice Manager-Intrapreneur approach :

Research has shown that the very successful Fortune 500 Companies such as 3M, Johnson & Johnson, Merck, Motorola and Citicorp have successfully used Manager-Intrapreneur approach to transform existing mature business units, to provide challenges to managers and to “survive” in the global market.

Let’s take a look at 3M, one of the companies that has obtained the rewards of Manager –Intrapreneur approach. 3M has a standard policy that allows all employees to work on developing their own business ideas at least 15 percent of the time they are at work. One of the big breakthroughs was the concept of Post-It-Notes which was pioneered by an employee that wanted something that wouldn't fall out to mark pages in his hymn book at church. In 1974, Art Fry, who directed the choir in his church, couldn't keep his hymns marked properly in his choir book. After attempting various methods, he decided he would try using some non-permanent adhesive that was the result of an earlier failed invention at his workplace. By placing this adhesive on the back of his markers, he found he could keep the notes secured in place and then easily peel them off when he was done. Today, Post-It Notes can be found on almost every desk in Indonesia, and the invention continues to be one of 3M's top-grossing products.

How to develop Manager-Intrapreneur in your companies ?

These are some methods that breakaway companies could do to foster Manager-Intrapreneur approach :

• Providing ways for Manager-Intrapreneurs to stay with their companies by creating Decentralized Units of Corporate Organizations or Strategic Business Units (SBUs).

• Managers are allowed to do the job in their own way, a variety of options in jobs, innovation efforts, alliances, and exchanges, without always seeking permission

• Tolerance of risk, failure, and mistakes: Is risk-taking encouraged? Are people allowed to learn from mistakes?

• Manager-Intrapreneurs receive "incentives" in the internal enterprises they create.

The most important factors for long-term success in business are people and their invaluable knowledge bank. We cannot buy or steal it, but we can create an environment where employees feel they are free to use their creativity and innovation to improve the standing of their employer in the market. People and what they know are the most critical factors for success. If they quit, these people could be our future competitors.

Dare to take the risk of losing these people ?

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