Corporate Entrepreneurship and Organizational Performance Theoretical Perspectives, Approaches and Outcomes

Abstract

Corporate entrepreneurship has been of interest to scholars and practitioners due to its beneficial effect on firm performance and competitiveness. It is a concept that is fast gaining importance and is the panacea of the future for corporate organizations operating in a dynamic and competitive environment. The quest for competitive advantage and improved performance can no longer be found simply in lower costs, or higher quality, or better services. Instead, it lies in adaptability, flexibility, speed, aggressiveness and innovativeness, all aspects of entrepreneurship. The increasing demand for faster product development, more features in smaller products, higher and uniform quality, stability and lower prices, demands for an entrepreneurial and flexible company with the right environment and systems that stimulate entrepreneurship it its employees. The concept of intrapreneurship is characterized by new business venturing, innovativeness, self-renewal and pro-activeness. In a supportive environment, employees have the opportunity to work independently, are given tremendous latitude and are expected to generate and implement new ideas to enhance firm performance. Firm performance as a result of corporate entrepreneurship results from development of new products and services, improvement of old ones; new and improved processes and systems which improve efficiencies. Therefore, firms with high corporate entrepreneurial intensity experience better performance in form of growth and profitability.

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