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Corporate Entrepreneurship Essay

1002 Words5 Pages

Corporate entrepreneurship refers to the act of starting a new venture or initiating an out of the box development in an already established organisation or social entity. Innovation and creativity in an organisation have come to be known as very important characteristics for facilitation of growth in an organisation. Corporate entrepreneurship is the channel through which the creativity of the employees can be garnered to conceive and launch a new business that is separate from the parent company but leverages on its assets, capabilities and resources. Even though it might involve external capabilities and resources, it is incredibly dependant on the parent company for a significant amount of resources and employees’ time since internal teams typically manage such projects. Research has shown that companies which focus on new business creation are able to grow their operating profits at a faster rate than their competition.
Entrpreneurship is essential for generating employment, fostering a holistic development of an individual through social well being and for the economy as a whole. We have seen several examples of the rags-to-riches entrepreneurs; Mark Zuckerberg and Larry Page are the recent torch bearers.
Given the advantages associated with corporate entrepreneurship, it is a harsh truth that employees do not yet act entrepreneurially in most organisations. There are several dissuading factors.
The most important and direct cause is organisational support. In the

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