Corporate entrepreneurship refers to an approach where opportunities are pursued through implementation, and the primary means: Corporate Entrepreneurship Capability Case Study, IUMW, Malaysia
|University||International University of Malaya-Wales (IUMW)|
|Subject||Corporate Entrepreneurship Capability|
Corporate entrepreneurship refers to an approach where opportunities are pursued through implementation, and the primary means to achieve this is through corporate venturing. Corporate venturing encompasses the organizational systems, processes, and practices that focus on creating businesses in existing or new fields, markets, or industries. It leads to various outcomes such as creating new businesses, seizing opportunities, establishing enterprises, and fostering innovation (Shin and Cho, 2020). Corporate venturing not only enables the development of new capabilities and innovative value but also maximizes the utilization of existing assets and capabilities (Hill & Georgia).
Successful corporate entrepreneurs prioritize qualities of openness and curiosity toward new experiences rather than relying solely on brilliant ideas. These entrepreneurs demonstrate a proactive attitude and behavior, enjoying risk-taking opportunities. They also aim to minimize risk across all endeavors. The components of entrepreneurial orientation, as defined by Lumpkin and Dess (1996), encompass autonomy, competitive aggressiveness, innovativeness, proactiveness, and risk-taking.
Setiawan (2015) conducted a study assessing the implementation of corporate entrepreneurship in privately-owned and state-owned contractors in Indonesia. The study introduced the Corporate Entrepreneurship Capability Model (CECM), consisting of two main components: indicators of corporate entrepreneurship and the capability levels of contractors (Setiawan and Erdogan, 2018). CECM utilizes twenty-one key factors, considered essential for corporate entrepreneurship are categorized into five dimensions: autonomy, competitive aggressiveness, innovativeness, proactiveness, and risk-taking (Lumpkin and Dess, 1996).
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