How a company can successfully implement corporate entrepreneurship : The interrelations of different approaches

Abstract: The aim of our investigation was to answer the question how corporate entrepreneurship can be implemented successfully by one approach solely. Therefore, we analysed various factors and challenges regarding their impacts on the process of implementing corporate entrepreneurship. It could be noted that the successful implementation depends on various factors arising from the internal and external environment. Because of these environmental factors various problems and challenges for the successful implementation of corporate entrepreneurship arise. These challenges may not only hinder the implementation but also make it impossible to succeed if the company does not respond accordingly. At this point, it should be emphasised that the identification of every single challenge or problem is not possible due to the diversity, complexity and dynamics of the environment. Yet the most significant challenges arise from the outdated and entrenched structures and visions of a company and from the outdated business objectives and processes. In particular by this, company members are encouraged to stick to routine standard behaviour. Thereby, entrepreneurial behaviour is suppressed and thus the implementation of corporate entrepreneurship is blocked. In general, the challenges of the company consist therefore in establishing a basis for entrepreneurial behaviour and following (re-)activate this behaviour. To meet this challenge, the company can make use of different approaches. Generally, these are intended to encourage individuals through motivational design measures for entrepreneurial behaviour. Regarding the intention of the company, different approaches should be taken into consideration. Each approach has a different focus and different arrangements, hence impacts on different areas. At this point it must be stated that the recommendations presented do not have a universal validity due to the fact that each company faces different challenges and problems. However, each approach and its arrangements have different impacts on various areas, individuals and units. Thus, each approach affects other approaches directly or indirectly. Moreover, the arrangement of one approach can be a prerequisite for other approaches. Therefore, we claim that corporate entrepreneurship cannot successfully be implemented by one approach solely. We evaluate that focusing on solely one approach and trying to implement corporate entrepreneurship by it might result in even more challenges and problems as it can be seen in an expansion of authorities without the necessary structural changes. The interrelations of the approaches must be taken into consideration when trying to implement corporate entrepreneurship. Therefore, we propose that for each approach, several other approaches are necessary in order to successfully implement corporate entrepreneurship.