Corporate entrepreneurship as a paradigm for successful competition and growth.

Abstract

Recent emphasis has been on entrepreneurship in small and medium enterprises rather than large organization as propounded by Schumpeter.This theoretical paper examines corporate entrepreneurship as a paradigm for successful competition and growth. The study extends existing research on corporate entrepreneurship by specifically addressing a developing economy context and contingencies within which companies will not only survive but thrive.With the onset of intensifying global competition, there is an increasing need for corporate organizations to become more entrepreneurial. The pathways of innovation through corporate venturing and strategic entrepreneurship to increase competitiveness with the efforts aimed at the rejuvenation, renewal, and redefinition of organizations, their markets, or industries are discussed. There is a provocative conclusion that companies need to foster an entrepreneurial culture as a platform on which corporate entrepreneurship can be built.Policy makers should not only encourage SMEs but redirect policies to enhance entrepreneurship in large organizations.