054VJ CORPORATE ENTREPRENEURSHIP – A FRAMEWORK FOR COMPETITIVENESS Dr. Vinnie Jauhari Associate Dean Institute for International Management & Technology Udyog Vihar Phase IV Gurgaon 122 001 E mail : firstname.lastname@example.org Ph. : 98 100 32324 Fax : (0124) 6397784 ________________________________________________________________________ ABSTRACT Corporate Entrepreneurship has of late evoked interest from practitioners of management and academicians. It refers to entrepreneurship in established firms. It comprises of those set of activities characterised by innovation, proactiveness and risk taking which manifest themselves in the form of mergers and acquisitions, franchising, licensing, contracting, R&D, divestment among others. Exploring the theme of corporate entrepreneurship has relevance as it attempts to find out how the organizations sustain their growth through entrepreneurship. An analysis of these issues in a scholastic mode has the advantages of outlining certain approaches which can be instructive to other organizations seeking to chart out a path. A possible replication of strategy with suitable adaptations is also a real possibility for organizations seeking to chart out a path. This paper attempts to put across a conceptual framework of Corporate Entrepreneurship which has emanated out of analysing about fifty studies in similar area. This framework has been proposed by identifying gaps in the already existing paradigm of corporate entrepreneurship. This conceptual framework highlights an interface between individual, organization, environmental factors, process of entrepreneurship and performance of the organization. The study in conclusion contributes to the attempt of heightening the clarity and features of the domain specific characteristics of Corporate Entrepreneurship and performance. A judicious balance between the use of qualitative and quantitative techniques has facilitated proposing an application oriented method of extrapolation of data which may be of use to other organizations with similar features as the ones studied.
INTRODUCTION This paper has proposed a conceptual framework for corporate entrepreneurship and which has been developed by identifying gaps in earlier research. The framework has been empirically tested through 180 respondents in six high tech organisation operating in the Electrical & Electronics industry. SIGNIFICANCE OF ENTREPRENEURSHIP AS A PROCESS There have been citations in the literature on the importance of an organisation being entrepreneurial. The relevance of entrepreneurship and innovation as a mechanism for growth has been a widely accepted concept (Drucker, 1985 b; Kanter 1983; Peters and Waterman, 1982; Pinchot, 1985; Slevin and Covin, 1990). Covin and Slevin (1991) write that entrepreneurship is studied for a variety of reasons but the overriding reason for the current interest in the topic is the widespread belief that entrepreneurial activity stimulates general economic development as well as economic performance of individual firms. From macro social considerations (promotion of economic growth in the developed and the developing countries) and organisational level considerations (improvement of organisational performance), a further study of vigorous modes of management may have high social relevance. Scholl hammer (1982) writes that entrepreneurship is the key element for gaining competitive advantage and consequently greater financial rewards. In a competitive environment, entrepreneurship is an essential element in the long range success of every business organisation, small or large, new or long established. Firms adopt entrepreneurial postures in the hope and under the assumption that the associated behaviours will help to create or sustain a high level of performance (Cornwall and Perlman, 1990). Peters and Waterman (1982) identify the following effects of engaging in entrepreneurial activities. 1) 2) 3) Increased employee motivation and task...
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