Corporate entrepreneurship

Corporate entrepreneurship, corporate venturing or Intrapreneurship, coined by legendary management thinker and consultant Peter.F.Drucker, is the act of initiating new ventures or creating value with an already established organisation or social entity.

The most common form of corporate entrepreneurship or Corporate venturing exists within the Research and Development (R&D) department within an organisation to support and create value for the other functional departments in the corporation as well as provide outstanding value for consumers which need to be communicated through the marketing and other functional departments as the entire corporate process is essential to creating superior value for customers or end-users.

The corporate entrepreneur

The corporate entrepreneur is an individual that exists within an organisation to generate product and process IDeaS that will create value for the organisation, its stakeholders and its consumers that buy its products.

The corporate entrepreneur's role in sustainable business development

Sustainable business development (SBD) is the art of the societal marketing philosophy which aims to create value for consumers in the Long term by providing superior value to consumers and its stakeholders by the adoption of six sigma and the triple bottom line (Environmental, Social and Economic) approach. Which pertains to create value superior than its competitors by focusing its resources on sustainable business strategies and activities.

The entrepreneur's role in sustainable business development to create a product or process that under the guidelines of SBD CREATES a sustainable business strategy that makes the company unique within its market.

The allocation of resources in the corporate environment is also important in the growth of SBD as highly sustainable practices can be expensive to the organisation but creates superior value in the future.

University's role in corporate entrepreneurship

The university's role in corporate entrepreneurship is the process of creating new ideas within its facilities and within its research departments, which can then be communicated through its open license programs, then bought by corporate enterprises and start-up entrepreneurs to explore further and create value.

Corporate Entrepreneurship education

At an Undergraduate level there is limits on where you can learn corporate entrepreneurship, the Unit corporate venturing is one example of the Australian Graduate School of Entrepreneurship (AGSE) at Swinburne University of Technology as part of the Bachelor of Commerce (Entrepreneurship and Innovation).

At a Postgraduate level at the Australian Graduate School of Entrepreneurship you can study the Corporate Entrepreneurship stream of the Master of Entrepreneurship and Innovation program.

There is also the option to study Corporate Entrepreneurship for research in your Honors or PHD thesis.

Corporate in Relation to other forms of Entrepreneurship

Corporate Entrepreneurship in comparison to other forms of entrepreneurship is believed to present lowest of risk as you are part of an established organisation which already processes the resources and intellectual properity to successful conduct large operations, venture programs and has the ability to mitigate risk.