To understand corporate entrepreneurship, we must first look at its parent, “start-up” entrepreneurship.
Entrepreneurs are generally associated with start-up businesses.
Heroes of culture, determination, and risk-taking seem to allow them to do amazing things — Bill Gates, creating Microsoft, Henry Ford, the mass produced automobile, and Jeff Bezos, founding Amazon.com.
Corporate Venturing : Involves starting a business within a business, usually sourcing from a core competency or process.
A bank, for example, which has a core competency in transaction processing, turns this into a separate business and offers transaction processing to other companies who need mass processing of information.
Intrapreneuring: An attempt to take the mindset and behaviors that external entrepreneurs have, and inculcate these characteristics into their employees. Sometimes the company wants every employee to act like an entrepreneur..
Organizational Transformation: T ransformation results in the development of new business opportunities. If the transformation involves innovation, a new arrangement or combination of resources, and results in the creation of sustainable economic value.
Autobytel has forced GM and others to put up their own websites in direct competition with their own dealers.
Nortel Networks, a leader in high growth, high-technology sector, recognizing that it’s extremely difficult to initiate new businesses outside the existing divisions, created the Business Venture Programme