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Corporate Entrepreneurship as an organizational intervention is not necessary

Introduction: Corporate Entrepreneurship

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An organization's success and growth depend on its capacity for the creation and adoption of innovations. This report will discuss the non-relevancy of corporate entrepreneurship in organization intervention. Organizational Interventions are well-structured plans designed to solve a setback, hence enabling an organization to attain a higher level of goals and objectives which sometimes become unnecessary and time-consuming processes.  Corporate entrepreneurship is a method of developing entrepreneurship behavior inside the organization. This report serves as a valuable resource in examining the existing body of knowledge on corporate entrepreneurship in the field of organizational intervention. The report develops an understanding of corporate entrepreneurship and the tools required for effective corporate entrepreneurship. Effective corporate entrepreneurship benefits the organization in several ways such as more productivity and boosting morale in employees. This report also highlights corporate entrepreneurship as an organizational intervention is not necessary.

Corporate entrepreneurship

The term ‘entrepreneur’ was invented by management advisor Gifford Pinchot in the 1980s. Corporate Entrepreneurship is a process used to build up a new venture, product, service, or method within a present organization to make a new source of revenue, to boost growth through entrepreneurial action and activities (Kazanjian et.al. 2017). Corporate Entrepreneurship is also called Intrapreneurs, may be described as the persons who take the duty for making innovation and developing anything new inside an organization. An intrapreneur is a person who finds out how to turn a thought into a reality which leads to success.

Corporate entrepreneurship is a word used to explain entrepreneurial activities within existing mid and large-sized organizations. Organizational entrepreneurship includes intrapreneurship, corporate venturing, and strategic entrepreneurship. Academic and practical knowledge about the area of corporate entrepreneurship has developed since the mid-1970s. Therefore, many of the essentials were build the understanding on Corporate Entrepreneurship can be found in literature since the 1970s.

Corporate entrepreneurship is a method to generate new solutions and create new business ideas within an existing company. It helps in creation of new revenue streams through new thoughts and ideas given by employees of the organization (Kuratko et.al. 2015). This is a method which builds a foundation for boosting innovation and revenue for the organization. This supports and motivates employees by creating an entrepreneurial work environment. In Today's business world, managers want to create an organizational environment where employees are free to discover thoughts. If the thoughts look worthwhile, the employees who presented them will be given a chance to turn into an intrapreneur.

The tools, skills, and practices for effective corporate entrepreneurship

Corporate entrepreneurship can only be effective when all the members of the organization are on the board. Effective corporate entrepreneurship is run and accepted at every level inside the organization beginning with the CEO. Everyone tries to create and implement innovative structures, cultures, and systems in the organization for the development of new innovative businesses (De Waal and Maritz, 2019). effective corporate entrepreneurship introduces such policies and processes that motivate employees to constantly work to create new and innovative things. Innovation must be a part of the company's culture so everybody feels obligated to work towards the common objective.

Two types of entrepreneurship can be launched in an organization as a part of effective entrepreneurship. These two types are surface entrepreneurship and deep entrepreneurship and these types are based on the category and size of the organization. In surface entrepreneurship, some specific organization focuses on some specific parts rather than on the entire business. This is generally done by well-settled organizations to work on new ideas without disturbing their existing systems (Keshvarz et.al. 2017). To achieve this goal organization forms a separate entrepreneurial team to create new products and innovative services without affecting the present procedures. On the other hand, the deep entrepreneurship approach is usually taken by startups. They try to create an entrepreneurship environment by sharing visions between employees and the management.

Organizational intervention

Organizational interventions are courses and methods designed for better functioning in the organization, these are generally called organizational development interventions. These interventions are made with the objective of changes in leadership styles, organizational culture, or structure (Gregory et.al. 2018). Successful intervention requires precise preparation to maximize the efficiency and competence of both employees and the organization. An Organizational intervention strategy is an organized, research-based series of steps that try to formulate wide changes in the organization (Nielsen and Miraglia, 2017). Organizational development interventions involve three primary essentials of a broad intervention process, which are the assessment of information, the practice of innovative strategies, and new approach combinations.

Types of organizational intervention

There are mainly four types of intervention human procedure intervention, techno-structural intervention, strategic change intervention, and human resource management intervention.

Human process intervention – This intervention is related to interpersonal relations, team building, intergroup relations, and organizational dynamics. Human process intervention strategy should not be understood as human resource development. The HR development center is an employee’s individual growth and development center, while human process intervention’s focal point is on innovative business processes to increase organizational effectiveness.

Techno-structural intervention - This intervention mainly focuses on organizational design, total quality management, work design, etc (Zabel and Baltes, 2015). Organizations adopt new technologies to gain a competitive advantage over their rivals and drive the growth of the organization by improving performance.

Strategic change intervention - this intervention involves three broad classifications that are transformational change, continuous change, and trans-organizational change. The transformational change consists of restructuring of business structure and retrenchment of divisions. It also involves outsourcing, restructuring, spin-off, and turnaround (Kunisch et.al. 2017). Continuous changes are done to make ongoing improvements in a work environment. Trans-organizational change is a change that involves more than one organization, for example, merger and acquisition.

Human resource management intervention - This intervention is related to change in performance management, developing talent, diversity, and wellness human resources (Han and Stieha, 2020). Performance management is used by the organization as a basis for compensation and promotion, changes in it come under HR management intervention. Development of talent includes intervention in methods of training and development as well as in career planning. 

Relation between corporate entrepreneurship and organizational intervention

Organizational intervention connects business to innovation and the process of innovation is not necessary for the success of a modern business. A high level of innovation yields a bigger market share for the new product proceeds advanced profitability, technical supremacy, and improved process. But Innovation alone is not enough; the right context is needed for the success of the innovation (Linnenluecke, 2017). Corporate entrepreneurship positions the right context for innovation by giving the appropriate infrastructure to support and maintain innovation over some time. Corporate entrepreneurship facilitates continuous innovation in the organization without any efforts of organizational intervention.

However, there are ways of innovation for corporate entrepreneurship through organizational intervention defined through the procedure that takes many ideas and contracts them down to a handful of possible ideas. The sequence of steps required to take a thought from concept through commercialization is the characteristic of organizational interventions. The innovation process has several parts and each part is characterized by its requirements which are creativity, design, process, discipline, co-creation, structure, and control.  Organizational systems, rules, events, and metrics are used to guide innovation as organizational intervention. Even though many organizations have an organizational intervention process with innovation skills still the failure rate is high. Due to the high failure rate the inclusion of corporate entrepreneurship in organizational intervention is not necessary because it sets the framework for continuous organizational intervention.  Corporate entrepreneurship involves an extra holistic and systems emergence for innovation.  In this framework, intervention is done in every aspect of the organization including strategy, policies and systems, structure, culture, people, procedures, and customers. Corporate entrepreneurship is less structured and hierarchical, it is more unrefined, it is a competence attitude, cultivated in the organizational culture to change thinking and acting.  It involves a shift in employees’ attitudes, a change in their beliefs, and the learning of new skills. Organizational intervention and corporate entrepreneurship are inexplicably not tied to each other.  These two concepts co-exist but do not always work collectively to speed up the growth of a new business. 

Corporate Entrepreneurship is not necessary as an organizational intervention

Corporate entrepreneurship is not necessary for organizational intervention. Corporate entrepreneurship creates a business environment that promotes new ideas and methods for organizational development intervention. This is done by explaining the importance of corporate entrepreneurship in the above four types of intervention.

Initially, in the human process intervention, corporate entrepreneurship helps only in human intervention by improving communication between them. Corporate entrepreneurship values new ideas of employees that give motivation and change the behavior of the employees in the process of individual intervention (Aarons et.al. 2017).  Corporate entrepreneurship also supports employees' career needs and sets complementary career objectives. In group intervention, entrepreneurship helps teams and groups to be more effective and create innovative methods at the group level. Another method of human process intervention is team building; corporate entrepreneurship makes team building effective by improving employee engagement and communication. Corporate entrepreneurship not only helps in the relationship between individuals but also helps in improving intergroup relations which can be done without organizational intervention. The factors of corporate entrepreneurship can work separately to facilitate collaboration among different groups within an organization toward a common objective.

Corporate entrepreneurship plays an important role in techno-structural intervention in organizational development. Organizational structure refers to the strategic plans of an organization to achieve its goals and objectives. Corporate entrepreneurship creates an organizational structure that promotes entrepreneurship within the organization. This kind of culture helps in the development of the organization and creates a path to the success of the organization. Another way of techno-structural intervention is total quality management which is a process of continuous improvement in processes and products within the organizational culture. Corporate entrepreneurship allows employees to communicate their thoughts on the improvement of existing methods and new innovative methods for which organizational intervention does not play a major role.

Human resource intervention is mainly related to the performance management of employees with developing them for higher positions. In Corporate entrepreneurship, performance is judged by the ideas given by the employees, a feasible and lucrative idea shows good performance. Participation by the employees in corporate entrepreneurship helps them to develop skills required at a higher level in the organization. It facilitates the overall development of human resources and provides the basis for the training of employees.

Strategic change intervention is affected by corporate entrepreneurship due to which the organizational intervention is separated from corporate entrepreneurship. This intervention involves a transformational change in the organization it can be done in various ways without involving in corporate entrepreneurship. Corporate entrepreneurship brings fresh ideas to the table when the organization is planning for a strategic change intervention (Valentin et.al. 2015). Employees can suggest restructuring the department based on their innovative thoughts and previous working experience. Corporate entrepreneurship builds an industrialist behavior in the employees that can help in turnaround strategic change intervention. Here, turnaround refers to replacing everyone in top-level management to turn things around in a failing business. Strategic intervention can maximize continuous small changes in the organization to improve the overall performance of the organization. Corporate entrepreneurship adopts a learning model rather than a hierarchical model which makes the work environment more competitive without using organizational intervention, so everyone tries to participate and suggest changes in small changes that improve effectiveness and efficiency in the work culture.

Conclusion

From the above report, it is concluded that corporate entrepreneurship as an organizational intervention is not necessary. These two concepts of corporate entrepreneurship and organizational intervention can work separately for the achievement of organizational objectives. Organizational intervention facilitates innovation and continuous improvement in organizational culture and performance. Corporate entrepreneurship in organization intervention is not necessary in today’s business world because of the other optional views of the top-level corporate entrepreneur. Organizational intervention leads to more productivity and boosts morale among the employees by giving them the space and opportunity to handle new challenges and implement new ideas which can also be done by good leaders and managers. This report explained the importance of innovation in the organization and the nonessentialness of corporate entrepreneurship in organizational intervention.

Referencing

Aarons, G.A., Ehrhart, M.G., Farahnak, L.R. and Hurlburt, M.S., 2015. Leadership and organizational change for implementation (LOCI): a randomized mixed method pilot study of a leadership and organization development intervention for evidence-based practice implementation. Implementation Science, 10(1), pp.1-12.

De Waal, G.A. and Maritz, A., 2019. Analyzing for effective entrepreneurship strategy: a corporate entrepreneurship and innovation course. Revista de Cercetare si Interventie Sociala64, pp.57-73.

Gregory, S.T., Menser, T. and Gregory, B.T., 2018. An organizational intervention to reduce physician burnout. Journal of Healthcare Management63(5), pp.338-352.

Han, S.J. and Stieha, V., 2020. Growth mindset for human resource development: A scoping review of the literature with recommended interventions. Human Resource Development Review19(3), pp.309-331.

Kazanjian, R.K., Drazin, R. and Glynn, M.A., 2017. Implementing strategies for corporate entrepreneurship: A knowledge?based perspective. Strategic entrepreneurship: Creating a new mindset, pp.173-199.

Keshvarz, L., Farahani, A. and Saldehi, M.H.S., 2017. Organizational Intangible Assets (human, social and psychological capitals) and Corporate Entrepreneurship-Case Study: Ministry of Sport and Youth of Islamic Republic of Iran. International Journal of Pharmaceutical Research & Allied Sciences6(3).

Kunisch, S., Bartunek, J.M., Mueller, J. and Huy, Q.N., 2017. Time in strategic change research. Academy of Management Annals11(2), pp.1005-1064.

Kuratko, D.F., Hornsby, J.S. and Hayton, J., 2015. Corporate entrepreneurship: the innovative challenge for a new global economic reality. Small Business Economics45(2), pp.245-253.

Linnenluecke, M.K., 2017. Resilience in business and management research: A review of influential publications and a research agenda. International Journal of Management Reviews, 19(1), pp.4-30.

Nielsen, K. and Miraglia, M., 2017. What works for whom in which circumstances? On the need to move beyond the ‘what works?’question in organizational intervention research. Human relations70(1), pp.40-62.

Smither, R., Houston, J. and McIntire, S., 2016. Organization development: Strategies for changing environments. Routledge.

Valentin, M.A., Valentin, C.C. and Nafukho, F.M., 2015. The engagement continuum model using corporate social responsibility as an intervention for sustained employee engagement: Research leading practice. European Journal of Training and Development.

Zabel, K.L. and Baltes, B.B., 2015. Workplace intervention effectiveness across the lifespan. In Facing the Challenges of a Multi-Age Workforce (pp. 209-229). Routledge.

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