The paper "The Development of the Entrepreneur’ s Corporate Venture " is an outstanding example of a business essay. For many years, companies have been operating using traditional practices to access growth through the use of new technology, acquisitions, corporate Research and Development (R& D) and Venture capital investment. With the advent of new technology, many businesses were witnessed taking very early strides towards growing businesses by taking advantage. However, this was never the case as many could not achieve what they wanted to as most of these initiatives did not fit well in the prevailing market value chains (Ireland et al 2006).
The purpose of this report is therefore to take take a critical analysis of the concept of corporate venturing and how it is being applied in different organizations in contemporary society. 2.0 The development of the entrepreneur’ s corporate venture Despite the fact that corporate venturing being considered an opportunity for many businesses both small and large to explore and exploit different opportunities on their way by making use of the available competencies, this for over years has never been the case with large companies (Hornsby et al 2002).
This is because many companies seem to be content with their achievement and product growth and the steady expansion of the business that provide the prospect for long-term gain with a very little caution that, that might never be the case in the long-run especially when the product or the business reaches its maturity. The stand by many managers in large companies not to embrace corporate venturing is the paradox surrounding the trade-offs that exist between the benefits that could be accrued from exploiting the different opportunities and the capacity to exploit them.
However, with the emerging competition in the world of businesses, the only way that a business can be ahead of others is by encouraging innovation. Innovation in many businesses today is being promoted by the intrapreneurship culture which is a strategy to encourage and promote entrepreneurial talents among individuals and that can be used by the business to develop more competitive and successful products and services in the market.
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Ireland RD, Kuratko DF & Morris MH 2006, A health audit for corporate entrepreneurship. Journal of Business Strategy, 27(1), 37-47.
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