Entrepreneurship Vs Intrapreneurship
Introduction
In the realm of entrepreneurial theory, researchers have progressed from the early work in the field to a multi-disciplinary, vibrant and extensively delineated area of study. These distinct areas of study now house their own body of research, leveraging off the base knowledge of entrepreneurship, but each adding niched understanding to how the world understands the theory surrounding entrepreneurship. Some of these niched areas include the thinking around social entrepreneurship, technopreneurship, global entrepreneurship, the effects of enterprise development on entrepreneurship, and many more. An interesting area of entrepreneurial theory is corporate entrepreneurship, which will be the focus of this paper.
What is Corporate
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Under entrepreneurship, the entrepreneur (or the entrepreneurial team) are the primary owners of the idea or concept that they conjure up, having used their various capitals to unearth the business concept. The entrepreneur will be the primary owner of the business, and thus the all potential upside benefits are reward for the entrepreneur and are potentially unlimited. Conversely, negative business performance can lead to ruin in the entrepreneur’s personal capacity.
In the realm of corporate entrepreneurship, the company owns the concept along with its related intellectual rights. Given this, the company bares all the risk of failure, although an element of personal career failure and internal reputational risk may follow the individual. Then entrepreneur often doesn’t not own equity in the business, but will often negotiate a small percentage of the equity as reward for a successful concept. These rewards are not unlimited however, and there is also more room for failure as losses will generally be absorbed by the
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The researcher further suggests that proactiveness is characterized by an elevated level of awareness of the pertinent external trends affecting the organisation, and that actions are executed in anticipation s opposed to in response of these trends. Covin and Slevin (1989) opined that proactiveness can be used in references to organisations that strive to lead rather than follow. Parker and Collins (2010) conducted empirical testing on kinds of proactive behavior, classifying them into three kinds as
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