Abstract
Despite international interest in corporate entrepreneurship research, relevant knowledge has not been systematically accumulated. Even in practice, the discussions of corporate entrepreneurship revolve around the appropriate level necessary and the preferred method of action. This paper proposes an evolutionary model that outlines corporate entrepreneurship overall in terms of an organization’s entrepreneurial activities. For the research objective, this paper includes in-depth case studies on Samsung’s Creative Lab. The Creative-Lab of Samsung has been actively implementing corporate venture system for eight years. We conducted collective case studies by focusing on a single case (Creative-Lab) and then moving to multiple cases (Creative-Lab spin-off companies). Firstly, the study identifies the development process of entrepreneurship from the individual-level to the firm-level, and from the firm-level to the social-level. Secondly, the study confirms that corporate venturing and the corporate spin-off system have a positive impact on entrepreneurial behavior, which is crucial to seize opportunities. Thirdly, based on the growth factors and performance of corporate entrepreneurship, an evolutionary model of corporate entrepreneurship is proposed in this paper. This study can contribute to the establishment of an integrated and structured mechanism of related research as it comprehensively reviews the antecedents, elements, and outcomes of corporate entrepreneurship.
Highlights
As the unexpected COVID-19 crisis accelerates to constitute the new normal, there is a need to look back to the situation that prevailed during the 1970s and 1980s in the US
It was confirmed through the existing studies that corporate entrepreneurship (CE) begins with an individual’s entrepreneurial orientation, and that it can be expressed as a specific entrepreneurial activity at the organizational level via the corporate venturing system
Based on the CE growth factors and performances derived from C-Lab case studies, this study proposes an evolutionary model of CE
Summary
As the unexpected COVID-19 crisis accelerates to constitute the new normal, there is a need to look back to the situation that prevailed during the 1970s and 1980s in the US. Drucker presents the sources and opportunities, which were needed for innovation when the US economy shifted from a managed economy to an entrepreneurial one and demonstrates how individuals at their end can exercise entrepreneurship. The economist George Schumpeter [2], the first to mention entrepreneurship, emphasized innovation as the driving force behind capitalist economic development, and considered entrepreneurship as the source of innovation. While the other economists recognized the importance of entrepreneurship, they did not consider it as a component of economy [1]. Based on Gartner’s [3] claim that entrepreneurship is the ability to recognize, discover, and exploit opportunities and an activity to create new organizations, related research has expanded to include external environmental factors as well as founders’ inner tendency
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