Corporate Entrepreneurship: Innovation in Global, Corporate Environments

Richard Stachel and Lou Musante

A chapter in Innovation - Research and Development for Human, Economic and Institutional Growth from IntechOpen

Abstract: Innovation is critical to the growth of organizations as well as to the generation of ideas and opportunities for individuals, communities, and nations. Its outputs have the potential to benefit our lives personally and expand economic vitality globally. Many might connect innovation mostly closely with startup organizations. This chapter, however, investigates innovation in large, global, corporations, the biggest drivers of innovation. It does so through the lens of corporate entrepreneurship, a practice that encourages innovators to function as entrepreneurs within the confines of these companies. This chapter investigates the study and practice of corporate entrepreneurship through the authors' research, including reviews of the literature and primary research. It investigates the history of corporate entrepreneurship, difficulties faced by innovators in these large organizations, and the three levels of innovation they create. It further introduces readers to the authors' corporate entrepreneurship model. It discusses the various aspects of the model and examines the use and perceived value of each aspect. Finally, the authors offer recommendations on accelerating innovation in these environments and provide suggestions for future research. The objectives of this chapter are to provide readers with an overview of corporate entrepreneurship, its challenges, and methods utilized to mitigate those challenges.

Keywords: corporate entrepreneurship; innovation; core innovation; adjacent innovation; transformational innovation; research and development; R&D; corporate venturing; strategic renewal; disruptive innovation; outside the core innovation (search for similar items in EconPapers)
JEL-codes: O32 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:311045

DOI: 10.5772/intechopen.111805

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