Dynamics of Corporate Entrepreneurial Initiatives: A Literature Review
DOI:
https://doi.org/10.47672/ije.888Keywords:
Corporate entrepreneurship, corporate venturing, organizational rejuvenation, innovation.Abstract
The competitive landscape in many industries today is marked by intense competition among existing players and the emergence of many focused competitors targeting specific segments of the market. In addition, the macro environment is characterized by rapid technological progress in many fields resulting in current solutions to customer problems becoming obsolete. These changes have highlighted the need for companies to become more entrepreneurial. Institutionalizing entrepreneurship, therefore, is a major challenge for the companies in the current competitive scenario. This study examined the dynamics of corporate entrepreneurship. From the review of extant literature, it was indicated that there was improved firm performance which was linked to corporate entrepreneurship. For companies that initiated actions to which competitors responded to, the firms had a tendency to be ahead of other competitors in introducing novel ideas or products and the companies strived in identifying new markets to sell products. Also, risk taking, innovativeness, competitive aggressiveness and organizational factors were key determinants of firm performance. It is recommended that empirical studies should be carried out using various criterion variables within different industrial sectors in Nigeria so as to test the validity of the concepts reviewed in this paper.
Downloads
References
Aktan, B., & Bulut, C. (2008). Financial performance impacts of corporate entrepreneurship in emerging markets: A Case of Turkey. European Journal of Economics, Finance and Administrative Sciences, 12. Journal of Business Venturing, 8(4), 319-340
Barney, J.B. (1991). Firm resources and sustained competitive advantage. Advances in Strategic Management, 17, 203-227.
Block, Z., & MacMillan, I.C. (1993). Corporate venturing: Creating new businesses within the firm. Boston: Harvard Business School Press
Brazeal, D. V. (1993). Organizing for internally developed corporate ventures. Journal of Business Venturing, 8(1), 75-90.
Christensen, Clayton, M., & Raynor, M. E. (2003). The innovators solution: Creating and sustaining successful growth. Boston, Massachusetts: Harvard Business School Press.
Clark, N. D. (2010). Innovation management in SMMEs: Active innovators in New Zealand, Journal of Small Business and Entrepreneurship, 23 (4), 601-619
Covin, J. G., & Covin, T. (1990). Competitive aggressiveness, environmental context, and small firm performance. Entrepreneurship Theory and Practice, 14(4), 35-50.
Covin, J. G., & Miles, M. P. (1999). Corporate entrepreneurship and the pursuit of competitive advantage. Entrepreneurship: Theory and Practice, 23(3), 47-63.
Covin, J.G., & Slevin, D.P. (1990). Competitive aggressiveness, environmental context, and small firm performance. Entrepreneurship Theory & Practice, 7V (4):35-50.
Dess, G. G., Lumpkin, G. T., & McGee, J. E. (1999). Linking corporate entrepreneurship to strategy, structure, and process: suggested research directions. Entrepreneurship Theory and Practice, 24(1), 85-102
Dess, G.G., Ireland, R.D., Zahra, S.A., S.W., Floyd, Janney, J.J., & Lane, P.J. (2003). Emerging issues in corporate entrepreneurship. Journal of Management, 29(3) 351-378
Fiol, C., & Lyles, M. (1985). Organizational learning. The Academy of Management Review, 10(4), 803- 813.
Golder, P. N., & Tellis, G. J. (1993). Pioneer advantage: Marketing logic or marketing legend. Journal of Marketing Research, 30, 158-170.
Guth, W.D., & Ginsberg, A. (1990). Corporate entrepreneurship. Strategic Management Journal, 11, 5-15.
Hamel, G. & Prahalad, C. K. (1989). Strategic intent. Harvard Business Review, 67(3), 63-76
Hornsby, J.S., Kuratko, D.F., & Zahra, S.A. (2002), Middle managers' perception of the internal environment for corporate entrepreneurship: Assessing a measurement scale. Journal of Business Venturing, 17 (3), 49-63.
Huse, M., Neubaum, D. O., & Gabrielsson, J. (2005). Corporate innovation and competitive environment. International Entrepreneurship and Management Journal, 1(3), 313-333.
Ireland, R. D., & Webb, J. W. (2007). Strategic entrepreneurship: Creating competitive advantage through streams of innovation. Business Horizons, 50, 49-59.
Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). A Model of strategic entrepreneurship: the construct and its dimensions. Journal of Management, 29(6), 963-989.
Ireland, R. D., Hitt, M. A., & Vaidyanath, D. (2002). Strategic alliances as a pathway to competitive success. Journal of Management, 28, 413-446.
Ketchen, J.R., Snow, D. J., & Ireland, R. D. (2007). Strategic entrepreneurship, collaborative innovation, and wealth creation. Strategic Entrepreneurship Journal, 1, 371-385.
Kim, W. C., & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review, 82(10), 76-84.
Kraus, S., & Kauranen, I. (2009). Strategic management and entrepreneurship: Friends or foes? International Journal of Business Science and Applied Management, 4(1), 37-50.
Kuratko, D. F., Montagno, R. V., & Hornsby, J. S. (1990). Developing an intrapreneurial assessment instrument for an effective corporate entrepreneurial environment. Strategic Management Journal, 11(5), 49-58
Kuratko, D. F., & Audretsch, D. B. (2013). Clarifying the domains of corporate entrepreneurship. International Entrepreneurial Management Journal, 9:323-335.
Kuratko, D.F., & Audretsch, D.B. (2009). Strategic entrepreneurship: Exploring different perspectives of an emerging concept. Entrepreneurship Theory & Practice, 33 (1), 1-17.
Lassen, A. H. (2007). Corporate entrepreneurship: An empirical study of the importance of strategic considerations in the creation of radical innovation. International Research Journal, 5(2), 109-131.
Leonard-Barton, D. (1992). Core capabilities and core rigidities: A paradox in managing new product development, Strategic Management Journal, 13, 111-126.
Lumpkin, G., & Dess, G. G. (2001). Linking two dimensions of entrepreneurial orientation to firm performance: The moderating role of environment and industry life cycle. Journal of Business Venturing, 429-451.
Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 135-172.
Lumpkin, G.T., Cogliser, C. C., & Schneider, D.R. (2009). Understanding and measuring autonomy: An entrepreneurial orientation perspective. Entrepreneurship and Theory in Practice 33(1), 47-69.
Margretta, J. (2002). Why business models matter. Harvard Business Review, 80(5), 86-92
Merrifield, D. B. (1993). Intrapreneurial corporate renewal. Journal of Business Venturing, 8(5), 383-389.
Miles, M.P., Munila, L.S., & Darroch, J. (2009). Sustainable corporate entrepreneurship. International Entrepreneurship and Management Journal, 5(1), 65-76.
Miller, D. (1983). Entrepreneurship correlates in three types of firms. Management Science, 29, 770-791.
Mintzberg, H., Ahlstrand, B. &Lampel, J. (1998). Strategy Safari a guided tour through the wilds of strategic management. Free Press, New York.
Moreno, A. & Casillas, J. C. (2008). Entrepreneurial orientation and growth of SMEs: A casual model. Entrepreneurship and Theory in Practice, 32(3), 507-528.
Morris, M. H., & Kuratko, D. F. (2002). Corporate entrepreneurship. Mason, OH: South-Western College Publishers
Naman, J. L., & Slevin, D. P. (1993). Entrepreneurship and the concept of fit: A Model and Empirical Tests. Strategic Management Journal, 14(2), 137-153.
Nielson, C., & Borger, K., (2003). Internal capabilities, external networks, and performance: A study of technology-based ventures. Strategic Management Journal, 22(6/7), 615-640. Entrepreneurship Theory and Practice,24(1), 37-48
Rauch, A., Wiklund, J., Lumpkin, G., & Frese, M. (2009). Entrepreneurial orientation and business performance: An assessment of past research and suggestions for the future. Entrepreneurship Theory and Practice, 33(3), 761-787.
Russell, R. D. (1999). Developing a process model of intrapreneurial systems: A cognitive mapping approach. Entrepreneurship Theory and Practice, 24(1), 65-84.
Sharma, P., & Chrisman, J. J. (1999). Towards reconciliation of the definitional issues in the field of corporate entrepreneurship. Entrepreneurship Theory and Practice, 24(1), 11-27.
Sharma, P. (2004). An overview of the field of family business studies: Current status and directions for the future. Family Business Review, 17(1), 1-36.
Stopford, J. M., & Baden-Fuller, C. W. F. (1994). Creating corporate entrepreneurship. Strategic Management Journal, 15(7), 521-536
Tidd, J., Bessant, J., & Pavitt, K. (2001). Managing innovation: Integrating technological, market and organizational change, 2nd edn. Wiley, Chichester.
Venkatraman, N. (1989). Strategic orientation of business enterprises: The construct, dimensionality, and measurement. Management Science, 35(8), 942-962.
Venter, A., Rwigema, H. & Urban, B. (2008). Entrepreneurship: Theory in practice, 2nd edition. Cape Town: Oxford University Press Southern Africa (Pty) Ltd
Wang, C. (2008). Entrepreneurial orientation, learning orientation and firm performance. Entrepreneurship Theory and Practice, 32(4):635-656
Wiklund, J. (1999). The sustainability of the entrepreneurial orientation"”Performance relationship. Entrepreneurship Theory and Practice, 24(1), 37-48.
Zahra J.D. (1996). Reinventing public administration. Public Administration Review, 56(3), 245-246.
Zahra, S.A., Nielsen, A. P. & Bogner, W. C. (1999). Corporate entrepreneurship, knowledge, and competence development. Entrepreneurship Theory and Practice, 24(1), 169-189
Zahra, S. (1991). Predictors and financial outcomes of corporate entrepreneurship: An exploratory study. Journal of Business Venturing, 6(4), 259-285.
Zahra, S. A., & Covin, J. G. (1995). Contextual influences on the corporate entrepreneurship"”performance relationship: A longitudinal analysis. Journal of Business Venturing, 10(1), 43-58.
Zahra, S. A., & Garvis, D. M. (2000). International corporate entrepreneurship and firm performance: the moderating effect of international environment hostility. Journal of Business Venturing (15), 469-492.
Zahra, S. A. (1993). Environment, corporate entrepreneurship, and financial performance: A taxonomic approach. Journal of Business Venturing, 8(4), 319-340.
Zahra, S. A., Filatotchev, I. & Wright, M. (2009). How do threshold firms sustain corporate entrepreneurship? The role of boards and absorptive capacity. Journal of Business Venturing, 24(3), 248-260.
Zahra, S.A., Kuratko, D.F., & Jennings, D.F. (1999). Entrepreneurship and the acquisition of dynamic organizational capabilities. Entrepreneurship Theory & Practice, 23 (3), 5-10.
Zajac, G., & Glass, G. (2000). The external validity of experiments. American Educational Research Journal, 5, 437-74.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Adim, Chidiebere Victor, Poi, Godwin
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
