Introduction

Firms have to operate in a constantly changing environment day by day. Therefore, competitive
advantage of firms’ is influenced by technological, social, political, economic, legal, and global
environmental conditions. Creating new product/service, and technology is crucial for many firms. To
create newness requires both creativity and entrepreneurial perspective. Innovation performance is a
critical element to form competitive advantages. So, firms have to develop a corporate
entrepreneurship strategy for struggle. Corporate entrepreneurship is an antecedent of innovation.
According to Kelley (2011) commercialization of corporate entrepreneurship and innovation is a new
growth source for firms. Corporate entrepreneurship is developing new ventures or taking advantage of
new opportunities in the external environment and creating economic value (Parker, 2011).

The concept of corporate entrepreneurship has evolved since Schumpeter’s (1961) definition. Morris et
al. (2008) define corporate entrepreneurship as the integration of corporate venturing and strategic
entrepreneurship. Corporate venturing dimension has three implementation modes. These are internal
corporate venturing, cooperative corporate venturing, and external corporate venturing. Strategic
entrepreneurship subdimensions are strategic renewing, sustainable regeneration, domain redefinition,
organizational rejuvenation, and business model reconstruction.

Corporate Entrepreneurship (Intrapreneurship) is a process used to develop

new businesses, products, services or processes inside of an existing
organization to create value and generate new revenue growth through
entrepreneurial thought and action.
Corporate entrepreneurship sets the context for innovation and
growth. It provides a systems view of the resources, processes and
environment that are needed to support, motivate and engage the
organization in entrepreneurial thinking and action
TYPES OF CORPORATE ENTREPRENEURSHIP
Crossing rugh and low levels of both employees' desire to exploit
entrepreneurial activities
and top managements' perception for the need for entrepreneurial activities
result in four cells. Each
of the four cells will be discussed to show that based on the conditions that
exist within each cell, one
specific type of C.E. either exists or will evolve in the firm.
Cell 1: Status-Quo
In this cell, neither top managers nor operational participants exhibit any
entrepreneurial behavior. Top managers are unlikely to encourage any
autonomous strategic behavior on the part of the employees because they do
not see any need for it. This can happen, tor example, in times of little
environmental changes or when the managers do not recognize the changes
or even when they reject the changes. Employees also have no desire to take
risks and exploit entrepreneurial opportunities.
A good example of status-quo organizations is a defender type organization.
Miles and Snow (1978) suggest that defender type organizations are often
active in a naITowlliche with which the top management is quite conversant.
Such organizations, they add, are characterized by fonnal rules, standardized
procedures, clear and narrow work roles for employees

The Challenges Associated With Corporate

Entrepreneurship
New businesses are always full of risks, which is why it is important to have a flexible and
easily adaptable work environment in order to succeed. It is only through an attitude of
change that new businesses do well, but unfortunately, this may not sit well with the
organization as a whole.
These characteristics of new businesses have a number of challenges. We will be
discussing three of those challenges for the purposes of this article.
1. Lack of Strong Data
New businesses seldom have hard data to back their products or technologies. This is
especially the case if your business is dealing with some high-end product or technology
that isn’t yet being widely used in the market.
The challenge here is to gather information and gain insights on a market that doesn’t yet
exist. It is not enough to depend upon financial forecasts, as that can lead to huge errors in
calculations.
This is one of the biggest challenges when you plan to start up a new business in some
cutting edge field or industry.
2. High Risks
No matter what kind of business you may be wanting to start, you will be faced with a huge
amount of risk – even if you are backed up by a strongly established organization.
Starting a new business requires constant innovation and development of ideas. Although
this may seem exciting, innovation or anything new and unconventional, for that matter,
comes with a huge amount of risk.