Sustainable corporate entrepreneurship: Evolving and connecting with the organization
AbstractCorporate entrepreneurship necessarily entails both risk and high levels of uncertainty; yet, established organizations are typically positioned as efficient engines that function best via cautious and routine progress, which can hinder attempts to inject innovative ideas into mature businesses. As such, conscious effort is required to build a corporation's capacity for sustainable entrepreneurship. While a few exceptional companies have built and maintained an enduring capability for entrepreneurship, the majority of firms possess a general resistance to these initiatives. Commitment to entrepreneurship may cycle between high or moderate support for the activity, to floundering interest or disbanded initiatives, as conditions in the internal and external environment shift. This cycling pattern, unfortunately, prevents the development of enduring capabilities. Herein, it is revealed how companies can progress their entrepreneurial capabilities over time, adjusting and improving them as the firm learns and adapts to change. To accomplish this, companies must develop strategic objectives to guide entrepreneurs, a management structure to support their work, and processes that inform assessment and decision making. Through an Evolve and Connect model, these three contexts can adjust to shifts in the external environment and the changes and progress happening within the organization. Over time, however, managers need to maintain a link between entrepreneurial activity and the organization's mainstream.
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Bibliographic InfoArticle provided by Elsevier in its journal Business Horizons.
Volume (Year): 54 (2011)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/bushor
Corporate entrepreneurship Entrepreneurial strategy Organizational structures for entrepreneurship Innovation process management;
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