CORPORATE ENTREPRENEURSHIP AS A MECHANISM TO TURN INNOVATION INTO COMPETITIVE ADVANTAGE

• Main Author: GRAȚIELA MIHAELA FERARU
• Format: Article
• Language: English
• Published: Academica Brâncuşi 2017-11-01
• Series: Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie
• Subjects: Corporate Entrepreneurship; Innovation; Organization; Opportunity exploitation.
• Online Access: http://www.utgjiu.ro/revista/ec/pdf/2017-Volumul%201%20Special/30_Feraru.pdf

Corporate Entrepreneurship creates the environment where preparation (engaged employees that own knowhow and resources) meets opportunity (generated by the current business environment where corporations perform their activities). The current paper aims to identify to what extent corporate entrepreneurship enables the pursuit and exploitation of business opportunities in order to maintain competitive position by focusing on the main implications and risks. During current times, the competitive landscape challenges corporations to focus on new initiatives in order to gain and maintain competitive advantage. Intense competition, as much as rapid technological progress, leads to industry-wide restructuring, challenging big companies to adapt. Corporations that seek quick wins realized that neither cost cutting nor mergers are enough to achieve short term goals or even to play the game. Not adapting generates the switch to an unintentional strategic decision to be out of business. Volatility of current environment has highlighted the need for companies to become entrepreneurial in order to capture (identify and value) the business opportunities. The need for innovation is not only a priority for start-ups; it is also a strategic goal for large companies. Creating new businesses within corporations is the challenge of the day in order to maintain a competitive position and to grow.