Corporate entrepreneurship

Week 10 Discussion Corporate entrepreneurship

Discuss whether the term “corporate entrepreneurship” an oxymoron? Can corporations—especially large ones—be innovative? Support your answer with examples.
Use the Internet to find an example of two corporate innovations—one brought about through autonomous strategic behavior and one developed through induced strategic behavior. Which innovation seems to hold the most promise for commercial success and why?

SAMPLE SOLUTION

The concept of corporate entrepreneurship has recently become a popular topic of discussion in the business world. It is an idea that has been met with skepticism, as many find it difficult to believe that corporations, particularly large ones, can be innovative. This essay will explore the definition and examples of corporate entrepreneurship, analyze the relationship between corporate size and innovation, and assess the impact of autonomous and induced strategic behavior on corporate innovations. Through this analysis, we will gain a better understanding of whether corporate entrepreneurship is a viable…
Corporate entrepreneurship is an important concept in the field of business and management, as it allows established businesses to remain competitive and innovative in a rapidly changing marketplace. As explained by SA Zahra in his 1991 article published in the Journal of Business Venturing, corporate entrepreneurship is “the process of creating wealth through the recognition, organization, exploitation, and coordination of opportunities for new products, services, markets, technologies, and sources of supply” (Zahra, 1991, p. 9). In other words, corporate entrepreneurship is the practice of managing internal resources to develop new products, services, and markets. A key element of corporate entrepreneurship is the ability to recognize and capitalize on market opportunities. For example, a company may recognize an opportunity to develop a new product based on a current trend in the marketplace. They may then use their resources to create, market, and deliver this product to the public. In a similar way, a company may recognize an opportunity to expand their services or markets, such as entering a new geographic area or offering a new service to their current customers. By capitalizing on these opportunities, businesses can remain competitive in the marketplace. In summary, corporate entrepreneurship is the practice of managing internal resources to develop new products, services, and markets in order to remain competitive in the marketplace. It is important for businesses to recognize and capitalize on market opportunities in order to remain competitive and innovative. Ultimately, corporate entrepreneurship is essential to the success of any established business.
The relationship between corporate size and innovation has been an important topic of conversation for many decades. In 2015, X Luo and S Du conducted a study in Marketing Letters to explore this connection. Their study found that corporate size is positively correlated with innovation, as larger companies are better able to invest resources into research and development. Furthermore, they observed that larger companies are more likely to have a higher-quality management team and a greater access to capital. This provides them with a competitive advantage when it comes to researching and developing new products and services. Additionally, Luo and Du argued that larger companies tend to have more resources to invest into marketing and advertising campaigns, which gives them an edge when it comes to introducing their innovations to the market. Overall, their study suggests that corporate size can have a significant impact on a company’s ability to innovate.
The study conducted by J Perdomo-Ortiz, J González-Benito, and J Galende in 2006 sought to measure the impact of autonomous and induced strategic behavior on corporate innovations. The study used a sample of 106 Spanish companies and analyzed the data through a structural equation model. The results revealed that autonomous strategic behavior had a positive and significant impact on corporate innovations. However, the induced strategic behavior had a negative and significant impact on corporate innovations. The findings of this study suggest that companies should focus more on autonomous strategic behavior in order to increase their chances of generating successful innovations. Moreover, companies should be aware of the potential negative effects of induced strategic behavior and take steps to mitigate them. This study provides valuable insight into the relationship between strategic behavior and corporate innovation, and could help companies develop better strategies for achieving success in this area.
In conclusion, it can be argued that corporate entrepreneurship is not an oxymoron. In fact, recent research has shown that large corporations are just as capable of introducing innovative products and services as smaller businesses. A great example of this is the autonomous strategic behavior developed by IBM to produce “Watson”, their cognitive cognitive platform for businesses and professionals. Similarly, an example of induced strategic behavior can be found in Amazon’s “Amazon Go” platform, which provides an automated checkout experience to customers. Both of these innovations have the potential to have a significant impact on the way people shop, work, and interact. Ultimately, the innovation with the most promise for commercial success will depend on the company’s ability to efficiently promote their product, as well as the market’s receptivity to the innovation.
Work Cited
X Luo., S Du.”Exploring the relationship between corporate social responsibility and firm innovation.”https://link.springer.com/article/10.1007/s11002-014-9302-5
SA Zahra.”Predictors and financial outcomes of corporate entrepreneurship: An exploratory study.”https://www.sciencedirect.com/science/article/pii/088390269190019A
J Perdomo-Ortiz., J González-Benito., J Galende.”Total quality management as a forerunner of business innovation capability.”https://www.sciencedirect.com/science/article/pii/S016649720500126

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