Strategies in Building Corporate Entrepreneurship

Abstract

Corporate Entrepreneurship (CE) had been increasingly recognized by many scholars as an effective strategy in ensuring better organizational performance and sustained competitiveness in today’s marketplace.  There were two types of corporate entrepreneurship including corporate venturing and strategic entrepreneurship.  The CE process started from identifying the opportunity, defining the business concept, assessing the resources requirements, acquiring the necessary resources, implementing the concept, and harvesting the venture.  A CE strategy was manifested through four elements: developing the vision, encouraging innovation, structuring for the work environment, and developing independent venture teams.  In implementation of CE, there were some limitations in fostering employees’ behavior, for examples, lack of time, lack of appropriate timing in allocation of resources for use, and lack of seed capital.  Therefore, it was of importance in creating the entrepreneurial culture of CE that was, for instance, operating on the frontiers of technology, allowing trial and error, and rewarding to employees who contributed their innovative ideas and efforts to the organization.