And the advantages of intrapreneurship are plenty. Small Business Economics, 45(2), 447463. https://doi.org/10.1111/etap.12120, Camelo-Ordaz, C., Fernndez-Alles, M., Ruiz-Navarro, J., & Sousa-Ginel, E. (2012). The effect of international venturing on firm performance: The moderating influence of absorptive capacity. Journal of Business Venturing, 17(3), 253273. From this view, some authors have considered that cross-cultural research has the potential to expand the concepts and theories that have been developed in a single cultural setting (Antoncic & Hisrich, 2001). Similarly, studies published elsewhere in conference proceedings and doctoral theses have been excluded to avoid overlap as they are often the first step before publication in a journal and also to ensure that we include the most rigorous and definitive version. Bring a business perspective to your technical and quantitative expertise with a bachelors degree in management, business analytics, or finance. In the case of Dess et al. Journal of Business Venturing, 24(6), 588600. However, since entrepreneurial activities are essential for companies to adapt to environmental changes, a greater appreciation of the factors that determine such activities should have both theoretical and practical implications (Zahra et al., 1999). The second is strategic entrepreneurship, which corresponds to a broader array of entrepreneurial initiatives which do not necessarily involve new businesses being added to the firm (Kuratko et al., 2011). Corporate Governance- International Review, 24(3), 200221. The conflicting cognitions of corporate entrepreneurs. https://doi.org/10.1007/s11187-011-9348-1, Marvel, M. R., Griffin, A., Hebda, J., & Vojak, B. https://doi.org/10.1002/smj.937, Parker, S. C. (2011). 2 provides a conceptual framework summarizing and synthesizing the most relevant concepts. This limits our understanding of accumulated knowledge in this area and hampers the development of further research. (2020); Covin et al. In addition, and related to the points above regarding types of ownership and goal variety, studies of the consequences of CE also need to explore social as well as financial, and economic outcomes in relation to ownership goals. Second, we also contribute by identifying relevant inconsistencies, ambiguities and gaps in previous literature that have prevented a more detailed understanding of certain areas within the CE field. Lignite production is predominantly used for electricity generation in the Company's own power . For the same reason, the Marketing and Consumer research journals were also dismissed. https://doi.org/10.1007/s11365-013-0255-6, Hornsby, J. S., Bloodgood, J. M., Hayton, J., & Kuratko, D. F. (2013b). Corporate entrepreneurship, knowledge, and competence development. https://doi.org/10.1007/s11187-019-00198-x, Kuratko, D. F., & Audretsch, D. B. In addition to the size of CE projects, complexity is also a dimension of CE. Intrapreneurship or entrepreneurship? - ScienceDirect (1997); Phan et al. (1999); Covin et al. Similarly, Minola et al. SMEs radical product innovation: The role of internally and externally oriented knowledge capabilities. Plambeck, N. (2012). https://doi.org/10.1002/smj.851, Foss, N. J., Lyngsie, J., & Zahra, S. A. Emphasis has been placed on the different forms and dimensions of CE, such as: Corporate venture capital (Rind, 1981); International CE (Zahra & Garvis, 2000); Corporate venturing (Zahra, 1996b); Social intrapreneurship (Kistruck & Beamish, 2010); Franchising (Dada et al., 2012); Innovation based CE (Kelley et al., 2009; Wadhwa et al., 2016); or, Strategic renewal (Glaser et al., 2015; Zahra, 1993, 1996a). About us. https://doi.org/10.1111/ijmr.12070, Lumpkin, G. T., & Dess, G. G. (1996). Table 3 shows that, for instance, the 18 articles published by Zahra have produced 5787 citations in SSCI, which represents 17.1% of the total citations produced by the 310 articles studied. The emerging trends and under researched areas of CE that we have identified open up further avenues for scholarly exploration. (2021); Schild et al. From an organizational dimension, corporate entrepreneurship can be understood as an intrapreneurial behavior that blends together a myriad of strategic components of an organization, such as corporate culture, firm resources, and capabilities. You need to think about how big is the market, how many resources do they need to create something, what could the payoff be. In this regard, the concept of CE has evolved over time and several definitions have appeared. JMS at 50: Trends over Time. Small Business Economics, 45(2), 383402. When does corporate venture capital add value for new ventures? This analysis was performed using VOSviewer (Mourao & Martinho, 2020; van Eck & Waltman, 2010). A full-time MBA program for mid-career leaders eager to dedicate one year of discovery for a lifetime of impact. From a quantitative point of view, research describes, measures and counts the main results of the analysis. However, when youre in a big company you dont have freedom because you do have a lot to lose. A corporate venture is typically characterized by the launch of a new (often risky) project, the relative autonomy of the project, and the fact that the project is being developed internally. This review analyzes the articles published in the corporate entrepreneurship field and presents the futureresearch agenda. Journal of Management Studies, 58(1), 126. Journal of Business Venturing, 21(4), 541567. While they lose lots of money on those new businesses, Google structures the investments in a way so the company can see where the money is going and pinpoint losses. Engagement of family executive members in intrapreneurship in the https://doi.org/10.5367/000000009790012291. Specifically, 310 papers published in the top and highly cited journals in the business, management and entrepreneurship fields are examined. Read Michael Cusumanos The Puzzle of Japanese Innovation and Entrepreneurship. Corporate entrepreneurship and real options in transitional policy environments: Theory development. Journal of Business Venturing, 7(1), 4771. Moreover, most of these articles focus only on specific dimensions of the CE phenomenon, and thus do not provide an overall perspective on the literature in this field. Intrapreneurship base in an organization is a concept by which corporate employees at any level of the company - identify and construct a unique business model that offers significant growth opportunities for their company. https://doi.org/10.1007/s11187-019-00304-z. One of the biggest mistakes is falling victim to being a one-trick pony, Cusumano said. Building on key findings of the content analysis we have just presented, Fig. Overall, we develop a model (Fig. https://doi.org/10.1177/0266242610376078, De Silva, M., & Wright, M. (2019). The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. Other popular or related terms include organizational entrepreneurship, intrapreneurship, corporate venturing, and strategic entrepreneurship. Strategic Management Journal, 38(3), 487505. Hence, as shown in Fig. (2014); Yang et al. Politico-economic factors associated with interest in starting a business: A multi-country study. Opportunity structures in established firms entrepreneurship versus intrapreneurship in mutual funds. Entrepreneurship Theory and Practice, 36(1), 141170. Kuratko, D. F., Morris, M. H., & Covin, J. G. (2011). https://doi.org/10.1287/orsc.11.4.448.14602, Shepherd, D. A., Covin, J. G., & Kuratko, D. F. (2009). However, there is a significant difference between them. https://doi.org/10.1016/j.jbusvent.2008.10.012, McCain, K. W. (1983). Hence, it is based on the idea that authors cite those documents they consider to be relevant for their research (Post et al., 2020). RWE Power AG, with headquarters in Essen and Cologne, Germany, is a company of the RWE Group. https://doi.org/10.1016/j.jbusvent.2008.12.001, Salvato, C., Sciascia, S., & Alberti, F. (2009). The relationship between CE and firm performance has also attracted considerable research interest over the past four decades. (2020); Di Lorenzo and Van de Vrande (2019); Dushnitsky and Lavie (2010); Eckhardt et al. (2017); Brumana et al. Entrepreneurship research (19852009) and the emergence of opportunities. (2009); Plambeck (2012); Ravasi and Turati (2005); Rigtering et al. https://doi.org/10.1007/s11192-009-0146-3, Verbeke, A., Chrisman, J. J., & Yuan, W. (2007). Considerations When Fundraising for Corporate Ventures. Journal of Management, 40(5), 12971333. A non-degree, customizable program for mid-career professionals. https://doi.org/10.1111/corg.12145. Global Entrepreneurship Monitor: Special report on entrepreneurial employee activity, GERA. However, research has primarily focused on the financial consequences of entrepreneurial activities (which may be easier to measure) and, therefore, there is a need to study the non-financial goals of CE initiatives (Zahra, 1991). This limits the capacity of these studies to provide an integrative framework that summarizes and captures the state-of-the-art literature in the CE field. Management Science, 27(7), 770791. (2013). However, citations may be used for other purposes such as to criticize another authors work or to mention ones own articles, or are simply gratuitous citations. Corporate entrepreneurship and financial performance: The case of management leveraged buyouts. https://doi.org/10.1016/0883-9026(87)90018-8, Bloodgood, J. M., Hornsby, J. S., Burkemper, A. C., & Sarooghi, H. (2015). (2009); Amoroso et al. Strategic Management Journal, 33(1), 122. Following Pinchot (1985), Stam refers to intrapreneurship or entrepreneurial employee activity as the development of new business activities by an employee; hence, it follows a bottom-up approach. (2015); Bloodgood et al. 1.2 Internal Corporate Venturing (ICV) for Sustainability (2008); Zahra et al. Inventive. (2016); Hill and Birkinshaw (2014); Jennings and Lumpkin (1989); Jones and Butler (1992); Keupp and Gassmann (2009); Kim et al. Earn your masters degree in engineering and management. A lot of times people believe that entrepreneurship is strictly associated with startups; thats not how we look at it, Aulet said. Entrepreneurship Theory and Practice, 23(3), 169189. Sathe, V. (1985). Despite the appeal of such claims, we need to study them carefully in the context of CE. Authors may refer to other articles to explain, justify or build their own ideas. Journal of Business Venturing, 23(2), 195220. https://doi.org/10.1016/S0149-2063(03)00086-2, Ireland, R. D., Covin, J. G., & Kuratko, D. F. (2009). (2006). Thats what gets people excited and motivated, Cusumano said. Corporate Venture Capital Funds (CVC) are increasingly mainstream, accounting for 26% of all U.S. venture capital deals in the first half of 2020, according to Pitchbook. In the 1990s, papers deepened analysis of the antecedents of CE activity (Zahra, 1991). Project failure from corporate entrepreneurship: Managing the grief process. https://doi.org/10.1080/08985620903183710, Grossman, A., Okhmatovskiy, I., & Wright, M. (2016). (2015) consider CE in the form of innovation in family firms. Combine an international MBA with a deep dive into management science. In addition, in 64% of the articles reviewed in Table 1 at least one of the authors is from a US university (198 out of 310). Understanding this life cycle may clarify how the form of CE might change with increased organizational experience and time (Guerrero et al., 2021). 636656. Academy of Management Perspectives, 34(3), 300310. https://doi.org/10.1177/0266242613516139, Wadhwa, A., & Kotha, S. (2006). (2020). From a top management team perspective, managers are considered to have multiple and critical roles in CE activity, mainly because they are centrally involved in the defining processes of both the corporate venturing and strategic renewal forms of CE (Kuratko & Audretsch, 2013). Conceptualizing corporate entrepreneurship strategy. Recent data reports that the value of corporate venture capital deals has hit a record high in 2020, up 24% from the year before, with major investments into e-commerce and remote Entrepreneurship Theory and Practice, 34(1), 105130. Small Business Economics, 45(2), 245253. (1992); McGrath (1995); McGrath et al. Researching entrepreneurship in family firms. Guth, W. D., & Ginsberg, A. (2012); Wales et al. (2021); Haynes et al. (2017); Simba and Thai (2019); Simon et al. Journal of Product Innovation Management, 32(3), 310318. In this regard, systematic literature reviews are particularly appropriate approaches to highlight the key contents from the literature in a structured way. The changing scope of the CE concept over the decades has helped to enlarge the research agenda. Journal of Business Venturing, 31(6), 628642. In this regard, some previous research has used interchangeably different terms, such as, intrapreneurship (Pinchot, 1985), corporate venturing (McMillan, 1986) or corporate internal entrepreneurship (Schollhammer, 1982) as synonyms of CE (Antoncic & Hisrich, 2001; Parker, 2011). https://doi.org/10.1177/104225879401800403, Grande, J., Madsen, E. L., & Borch, O. J. (2009); McDougall et al. Finally, following past practice in the literature (e.g., Ramos-Rodriguez & Ruiz-Navarro, 2004; Schildt et al., 2006; Wallin, 2012), Fig. Corporate Intrapreneurship, An Overview | SpringerLink Journal of Small Business Management, 57(sup2), 397416. A definition of corporate entrepreneurship. A few introductions to special issues have been published in the last years (Corbett et al., 2013; Kuratko et al., 2015; Minola et al., 2021; Phan et al., 2009). Corporate Entrepreneurship | SpringerLink Non-degree programs for senior executives and high-potential managers. One way to make doing new things easier is through incentive programs. (2007); Simsek et al. In addition, several studies focused on the differing nature of CE activities compared with those of independent entrepreneurship (e.g., Parker, 2011). (2007). Entrepreneurship Theory and Practice, 38(5), 9811000. 2, future research should integrate both approaches as some entrepreneurship and innovation activities fit within the definition of both concepts. Understanding these forms will help in establishing their usefulness to companies and the conditions leading to their success. (2020); Patzelt et al. First, we develop a systematic literature review of 310 papers published in the top journals of the management and entrepreneurship fields and we analyze and discuss key aspects in the CE literature (such as, the most cited articles, authors and topics of analysis). Differences in classification were resolved by discussion between the authors. The impact of private equity on firms patenting activity. https://doi.org/10.1016/j.jbusvent.2009.07.003, Pettit, K. L., & Crossan, M. M. (2020). The evolution of the small business and entrepreneurship field: A bibliometric investigation of articles published in the International Small Business Journal. Corporate entrepreneurship refers to entrepreneurial activities, such as innovation, venturing, and strategic renewal, within existing firms (Zahra, 1996). Conversely, a qualitative analysis (e.g., content analysis) of the results includes the study of the main topics and trends, generally by explaining whether and how the content of the topic has evolved over time (Clark et al., 2014). Overall, the literature has highlighted at least three different types of factors at different levels that can influence CE: individual, company related and environmental. (1988); Ohe et al. https://doi.org/10.1111/jsbm.12269, Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). Further, how do these conflicts affect CEs success? Prior knowledge and the discovery of entrepreneurial opportunities. Hence, we contribute by summarizing and synthesizing the main findings in previous literature. Entrepreneurial finance meets organizational reality: Comparing investment practices and performance of corporate and independent venture capitalists. Corporate entrepreneurship: Current research and future directions Research at the marketing interface to advance entrepreneurship theory. We conducted a systematic literature review and used a bibliometric approach to analyze and describe the findings. Past studies from several complementary fields, such as strategy, finance, entrepreneurship or marketing, have contributed to a better understanding of complex and dynamic entrepreneurship within established organizations (Hornsby, et al., 2013). International Small Business Journal, 30(5), 513535. The idea behind corporate entrepreneurship goes back to the mid-1970s. (2010); Grande et al. That one business, that one focus, is eventually going to be under attack and the profits are going to eventually erode.. Corporate Entrepreneurship vs Intrapreneurship | ResearchGate (2007); Vozikis et al. Journal of Business Venturing, 8(4), 319340. Corporate entrepreneurship strategy: extending our knowledge boundaries through configuration theory. California Management Review, 43(2), 95116. https://doi.org/10.1111/j.1540-6520.2005.00068.x, Behrens, J., & Patzelt, H. (2016). https://doi.org/10.1002/(SICI)1097-0266(199703)18:3%3C207::AIDSMJ864%3E3.0.CO;2-Q, Block, Z., & Ornati, O. (2016). Through intellectual rigor and experiential learning, this full-time, two-year MBA program develops leaders who make a difference in the world. Entrepreneurship and Regional Development: Casillas and Moreno (2010); Fayolle et al. But private ownership is more nuanced and includes family firms, venture capital and private equity backed firms, and even socially owned and hybrid enterprises that may engage in CE related activities (Zahra et al., 2009). Intrapreneurship is an important concept and an essential element in organizational growth and economic development. Based on the entrepreneurial orientation construct, researchers usually classify CE into three to five dimensions (Covin & Slevin, 1991)new business venturing, product, service and process innovativeness, self-renewal and proactiveness (Guth & Ginsberg, 1990; Lampe et al., 2020; Zahra, 1993) are the most common. The objective is to streamline the creation of new, inventive business models never used before, eliminating the numerous risks of running a business as an entrepreneur. Chances are there's a handy example of intrapreneurship stuck to your desk: the Post-it note. The past and the future of international entrepreneurship: A review and suggestions for developing the field. Among such organizations, there is an acceptance of risk and an understanding that the outcomes of innovation are uncertain (Bloodgood et al., 2015). European Economic Review, 86, 147160. (2015); Braune et al. BMW i Ventures invests in high-performance companies and helps them execute quickly by delivering agile precisionensuring real-world impact on hardware, software, sustainability . Stanford University professor Robert Burgelman has written on the topic multiple times in the last 30 years, as has MIT Sloans Edward Roberts. It also provides a synthesis of topics that the literature has considered to be relevant but that have not been studied in detail. CE is widely considered important for facilitating a firms efforts to exploit its current competitive advantages and explore new opportunities and the competencies required to pursue them successfully. Journal of Business Venturing, 26(1), 1934. Table 5 summarizes our discussion by presenting some examples of future research questions on CE. In addition, studies using global datasets are not very common in CE research since only 11.2% of the articles use data with information for 3 or more countries (22 out of 196). Antecedents of corporate entrepreneurship in SMEs: Evidence from an emerging economy. (2021); Ramirez-Pasillas et al. The Company employs about 8.800 people and operates three opencast lignite mines in the Rhineland area. https://doi.org/10.1111/etap.12147, Bettinelli, C., Sciascia, S., Randerson, K., & Fayolle, A. https://doi.org/10.1016/0883-9026(95)00128-X, Zahra, S. A., & Covin, J. G. (1995). The journals are part of the Business and Management categories. Middle managers and the translation of new ideas in organizations: A review of micro-practices and contingencies. (2010); Fini and Toschi (2016); Gupta and Batra (2016); Messeghem (2003); Shu et al. There are many industries that cant be revolutionized by an internal startup. Guest editorial: The role of corporate entrepreneurship in the current organizational and economic landscape. (2011); Belderbos et al. The life cycle dimension of CE activities has not been sufficiently studied, highlighting the need for further research on the topic. Research has shown that different types of previous professional experiences increase the likelihood of engaging in CE initiatives (Dokko & Gaba, 2012). Hence, the oldest paper dates back to 1969 (Westfall, 1969) and the most recent were published in 2021 (the search ended in November 2021). Even though some authors have explained that CE can be relevant for large corporations as well as small and medium sized enterprises (Carrier, 1994; Zahra et al., 2000), there are few studies focusing on the different sizes of corporate entrepreneurial projects (an exception is Nason et al., 2015). Corporate venture capital and the balance of risks and rewards for portfolio companies. We define the term as the process by which teams within an established company conceive, foster, launch and manage a new business that is distinct from the parent company but leverages the parent's assets, market position, capabilities or other resources. These articles on the right focus mostly on corporate venture capital, which appears as a separate topic within CE literature, and are published more often in strategy and management journals than in entrepreneurship ones (Dushnitsky & Lenox, 2005; Wadhwa & Kotha, 2006, among others).
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