What is corporate entrepreneurship

Entrepreneurship is the activity of carrying out business or financial activity with the view of earning profit by a person or group of person and it starts from point zero and takes a lot of efforts. The act of doing entrepreneurship inside an already in-build organization is known as corporate entrepreneurship. A corporate entrepreneurship is also known as Intrapreneurship and has both advanced knowledge and financial support along with all beneficiary circumstances.

In order to support new business growth and innovation an organization needs a framework and corporate entrepreneurship is the answer to it. It creates revenue and value through multiple entrepreneurial thoughts and action. Corporate entrepreneurship forms a pillar for innovation and growth with the correct use of the resources available. This motivates the organization to contribute towards more such new ideas in the view to earn profit.

Advantages that corporate entrepreneurship provides is that it increases its productivity, financial growth, investment returns, employees engagement through a greater performance. In short it supports the organization. A corporate entrepreneurship is comprised of three main components and those are:

1. People: one of its strongest components are the experienced and good quality of people who possess leadership quality to complete and carry out any given decision.
2. Place: the next component is an eligible work environment where the entrepreneurial ideas can be conducted easily. The place should be free for learning and growing.
3. Process: the process of conducting the entrepreneurial thinking and action should be strong enough to support.

Now, if we talk about the goals of corporate entrepreneurship then it aims to build capabilities that help’s the organization to accelerate business growth. Around 65percent of innovative companies’ initiates corporate entrepreneurship or intrapreneurship.

Future of Intrapreneurship

Now this question arises is many that what could be the possible future of corporate entrepreneurship or intrapreneurship.  Intrapreneurship has survived for decades now and has seen huge growth. With more innovative ideas and planning it is expected a steep slope of rise in future. The current pandemic situation has forced everything to change and people are adapting to it. This adaptation is also a part that Intrapreneurship teaches us. For the first time we all are experiencing such a huge change and working according to it. This adaptability is also a key component of corporate entrepreneurship as it is all about change. Yes, it is a bit difficult to predict what will be the future scenery but things are expected to change in future. Intrapreneurship might seem a bit challenging for the moment but as soon as everything falls into place, intrapreneurship will also begin to rise again.

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