Corporate entrepreneurship is an essential element of strategic management in any organization. All companies must have plans to include entrepreneurship in their strategic management to promote growth, survival, sustainability and competitiveness. Entrepreneurship in companies may take different forms depending on the nature of the organization and the choices of their leaders. For example, it may involve the development of a business within an existing organization. In addition, it may take the form of promoting existing products and business models through innovation. May also involve proactivity. In the present case, aggressive initiative means starting commercial activities before competitors can venture into it. Competition and business competition are some concepts that make corporate entrepreneurship necessary. The institution, which relies solely on existing products in the era of huge competition, is likely to lose its market share, which will certainly be borne by business rivals. As some organizations mimic the products and business models of their competitors, other companies may be involved in producing highly innovative products that may make existing products obsolete.


I'm Owen!

Would you like to get a custom essay? How about receiving a customized one?

Check it out