CAN CORPORATE ENTREPRENEURSHIP BE PRATICED WITHIN AN ORGANIZATIONAL UNIT?

Abstract

After years of downsizing and restructuring, top managers are once again thinking about growth. Corporate entrepreneurship is quickly becoming a weapon of choice for many of these large companies. This research is based on an effort to find out if corporate entrepreneurship be practiced within an organizational unit? The major problem of the research is: Hindrances in the practice of corporate entrepreneurship within an organizational unit? And how can it work in the present unpredictable environment of Pakistan? The core of this study can be explained through the Descriptive Study and with the help of quantitative data, the data was investigated. The middle management of 3M Pakistan was the respondent of the study as it was identified whether they have freedom to bring new ideas and new businesses for the company or not.. Through research finding it was observed that change is the only constant thing But, it is not as easy as it seems to be. Organizations are not willing to change because of the resistance they can have from the employees. From the research, it was evident that 43% organizations are open to change whereas, 57% are resistant towards change. Moreover, organizations need to be competitive, adaptive and open to change in today’s environment. There are only 36% organizations that practice corporate entrepreneurship whereas, 64% organizations still inhibit corporate entrepreneurship. While interviewing the targeted organization, it was evident that some individuals really do have the right stuff to identify, develop, and implement a new business venture from start to finish. There are people who are good at the creative opportunity identification and shaping phases, for them, the fun is in the conceptualization piece, not the implementation piece. Thus, any corporate entrepreneurship process must be first framed around the question whether a company wants to develop corporate entrepreneurship processes or corporate entrepreneurs. The results of the research were that corporate entrepreneurship can be practiced within an organizational unit. However, cultural change has to happen before the fruits of entrepreneurial interventions can be realized. But, they must also be seen in the light of the overall approach to training entrepreneurs. Clearly, researchers are right when they claim that organizational culture plays a key role in a company’s ability to develop corporate entrepreneurship. But, successful ventures can develop in non-entrepreneunal companies with the right kind of tactical interventions. Perhaps, it only takes a critical mass of switched-on corporate entrepreneurs, with some championing at the senior level, to start to see results.