Corporate Entrepreneurship in Public Sector

Abstract

Entrepreneurship is often associated with start-ups and small business ventures. This is because entrepreneurship is seen as a form of risk that exist when starting a business. Most definitions of entrepreneurship are focused on the process of starting and running a business, due to the high risks involved in doing so, many start-ups fail due to lack of funding, poor business decisions, government policies, an economic downturn, a lack of market demand, or a combination of all of these. As a result, scholars and practitioners alike generalise entrepreneurship in the context of Micro, Small, and Medium-sized Enterprises (MSMEs). Yet it is not rare to find entrepreneurship in established organisations or the public sector. In such situation, it is referred to as “corporate entrepreneurship”. Corporate entrepreneurship is a method of creating new businesses, products, services, or processes within an existing firm to provide value and grow income. Corporate entrepreneurship allows the generation of new ideas and innovation and fosters an ecosystem of self-entrepreneurship and creativity among its workforce. The purpose of corporate entrepreneurship is to develop competencies that allow companies to accelerate new business growth. Adopting a qualitative approach this paper explores corporate entrepreneurship in the context of the public sector.

Keywords: Corporate, Entrepreneuship, Ideas, Innovation, Public Sector

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