Corporate Entrepreneurship programs : practices and their implications in developing economies

Abstract

Corporate Entrepreneurship is driven by external demands and internal leadership. However, this process is difficult to implement in firms because it often conflicts with the core of corporate activities and the accumulated experience of the organization is insufficient to provide proper guidance for managers. On the other hand, currently, the knowledge base in this area is incomplete and fragmented. It lacks a coherent structure that would allow organizations to achieve productive outcomes. Therefore, developing an integrated perspective to support firms in installing a corporate entrepreneurship structure and, at the same time, develop managers for this task can be an useful topic from the point of view of both established and emerging organizations. The research question is can we develop a structure with key elements to help managers in the development of corporate entrepreneurship and how to address it in a practical way to install in Latin American countries? To accomplish it, the methodology considers the analysis based on scientific publications and technical books, along with a complementary research through personal interviews and study cases of large corporations and Chilean companies. The thesis delivers key elements, such as program structures, processes, and leadership. The main lesson is that these programs could be both disciplined and flexible. "Develop innovation with framework and consistency" is strongly recommended. A second one is that the alignment with the corporate strategy or basic guidelines is a must for these kinds of programs. Thirdly, the support of top management is crucial, and the development of initiatives for changing top and middle manager mindsets. Finally, companies should seek a balance with innovation portfolio (inorganic, radical and incremental), knowledge management, and networking initiatives (open, private).