Coprorate Entrepreneurship

CORPORATE ENTREPRENEURSHIP



“Corporate Entrepreneurship also known as Intrapreneurship is an organizational initiative to enhance innovative abilities of their employees”

CE is a process whereby an individual or a group of individuals, in association with an existing organization, create a new organization or initiate renewal of innovation within that organization.

Why corporate entrepreneurship:

From HR side:
A measure to retain well nurtured talent within the organizational talent

Remove the glass ceiling of personal growth
You can have a cake and eat it too situation

Business related benefits:

1.Cost related advantages to the business derived from outsourcing

Several fixed investments and costs will be shifted out of the organization in the process of a strategic outsourcing of processes
2. To be able to tap the internal energies and creativity :
This domain will be open to the internal entrepreneurs- the entrepreneurs within the organizations
3. This is a win-win situation to all
The company-

(i) is able to retain extraordinary and exemplary managerial talent within the orbit of the organization as they are still with the organization and doing what otherwise they are doing

(ii) Off- load the processes which could be outsourced and reduce costs to a considerable extent

(iii)In some cases derive the benefits of small enterprises- several incentives, concessions and benefits available to small enterprises

(iv) More resources to focus on core competencies as the out sourcable processes get outsourced to the Intrapreneurs

(v) Shifting threats of disruptive technologies or changes in external environment
Insulating the business from the threat of failure or the image related issues if the new product fails in the market.

This is seen in entertainment business particularly in film business- well known film companies/directors will not be doing totally new or off-beat films on the main banner instead they encourage their assistant directors/ co-producers financiers, distributors to try-out the new experiments and support the new ventures.

“The entrepreneur should not create clouds of overconfidence which blurs the realities and lead to failures which are deliberate”

Conditions that favor the blossoming of corporate entrepreneurship:

The dynamic and highly competitive business environment which demands constant innovations and ability to adapt to change

Creation and maintenance of conducive atmosphere by top management-

HR policies and practices
Physical facilities for experimentation
Incentives for innovation
Integrating intrapreneurship with career growth in organizations
Right training and development facilities
Incubation facilities for innovation


Role of B-Schools:

The roots of this lie in educational institutions particularly management institutions-

The B-Schools to inculcate the culture of making job creators rather than job seekers

Make Entrepreneurship and Intrapreneurship as a vital under current in the learning process by -
(i) designing core courses and specialization courses
(ii) Facilitating continuous interaction with successful entrepreneurs
(iii)Facilitate incubation centres
(iv)Networking with external support agencies
(v) Initiate steps to partner with leading companies and organizations which are promoting entrepreneurship development

There is lot of funding available from agencies like Department of Science and Technology and host of other government and non-government organizations
The present day business environment is highly conducive for entrepreneurship and intrapreneurial initiatives

Make best use of your two year training to be ready to become entrepreneurs and intrapreneurs.

All the best