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Internal Corporate Venture (ICV) - A new environment of a corporate

Management Prudence Journal

Volume 1 Issue 2

Published: 2010
Author(s) Name: Dr (Ms) B.Sumathi sri
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Abstract

In the fiercely competitive, fast –faced, global economy, creativity is not only an important sources for building a competitive advantage, but it also is a necessity for survival. When developing creative solution are modern problems, entrepreneurs must go beyond merely using whatever has worked in the past. Intrapreneur gives the ability and opportunity, which can be compared to the evolutionary biological process of natural selection. Each intrapreneurial venture is a form of mutation of current corporate resources. These mutations provide diversity. Intrapreneurship provides large organizations the opportunites to adapt quickly to changes in the marketplace, to go in new directions without having to acquire or merge with an existing business, and to try out new products and process. Even though understand the process, recognize an ICV’s potential benefits, and have extensive knowledge of the impediments to intrapreneurship, corporations nevertheless find the task daunting. The need to recognize, however, that intrapreneurs and a viable intrapreneuring process are two resources that are rare, valuable, imperfectly imitable, and nonsubstituable. Thus intrapreneurship is a source of sustainable competitive advantage. Key words: Intrapreneurship, Internal Corporate Venturing, Diversity, Innovation, Creative Destruction, Sustainable Competitive Advantage, Coalition, Mutations, Intrapreneuring process.

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