Entrepreneurship External Forces

1. Introduction

In the era of hypercompetitive business economy and high increasing market environments, the role of and attention to corporate entrepreneurship have escalated highly throughout the world. Not only small business ventures are considerably into creating new opportunities, adaptable natures, helpful philosophies and undiscovered approaches along with entrepreneurship ethics, but also huge corporations feel the need for the aids of improved and advanced corporate entrepreneurship owing to either small or enormous circumstances in the competitions. There are different kinds of internal and external forces that create a need for corporate entrepreneurship, and they will be discussed thoroughly below. The recent business practices have implied that the need for newly innovative entrepreneurial management is on the increase. However there are some possible and unforeseeable obstacles to inhibit corporate entrepreneurship to flourish.

2. Forces that create a need for Corporate Entrepreneurship

According to Hisrich, Peters and Shepherd (2010), the interest in corporate entrepreneurship within the established ventures has intensified due to a variety of events occurring on social, cultural, market demand, competitiveness.

2.1 Social

In broad meaning, corporate entrepreneurship is one method of stimulating and then capitalizing on individuals in organizations who think something can be done differently and better. Many entrepreneurial firms constitute individuals who are granted to acquire new innovative ideas and use them effectively and efficiently. As well if they are highly responsible towards the work and feel the freedom in their jobs. The most important point is belief in their creativeness and innov...

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...ed on the improvement of these two types of products rather than introducing new products every year. However, Samsung creates a lot more ranges of products, since they are concentrated on not only providing smartphones in developed countries, but also developing ones who are mostly attracted by low cost smartphones. Moreover, according to Samsung's annual report(2013), there are more than 50 thousand researchers and engineers across 42 global research facilities. It means that about 1/3 of Samsung employees are busy doing researches each year, and that tells much about how good entrepreneurship environment Samsung has. Taking these factors into, it can be summarized that both Apple and Samsung have competitive and innovative corporate entrepreneurship climate. However, Apple is a step ahead, since it is more proactive in terms of innovation and product development.