Topic > External Forces of Entrepreneurship - 2296

1. IntroductionIn the era of hypercompetitive corporate economics and high-growth market environments, the role and attention to corporate entrepreneurship has increased dramatically across the world. Not only small businesses are highly committed to creating new opportunities, adaptable nature, useful philosophies and unknown approaches along with entrepreneurial ethics but also large corporations feel the need of the help of improved and advanced business entrepreneurship due to circumstances small or huge in competitions. There are different types of internal and external forces that create the need for corporate entrepreneurship and they will be discussed in depth below. Recent business practices have implied that the need for innovative business management is increasing. However, there are some possible and unpredictable obstacles that prevent corporate entrepreneurship from thriving.2. Forces Creating the Need for Corporate Entrepreneurship According to Hisrich, Peters, and Shepherd (2010), interest in corporate entrepreneurship within established ventures has intensified due to a variety of events occurring on the social, cultural , market and competitiveness.2.1 SocialIn a broad sense, corporate entrepreneurship is a method of stimulating and then benefiting from individuals in organizations who think that something can be done differently and better. Many entrepreneurial companies constitute individuals who are empowered to acquire new innovative ideas and use them effectively and efficiently. Even though they are highly responsible towards work and feel freedom in their work. The most important point is to believe in their creativity and innovation...... middle of paper ......and on improving these two types of products rather than introducing new products every year. However, Samsung creates many more product ranges, as it focuses not only on supplying smartphones to developed countries, but also to developing ones who are mostly attracted by low-cost smartphones. Furthermore, according to Samsung's annual report (2013), there are more than 50 thousand researchers and engineers in 42 global research facilities. This means that around 1/3 of Samsung employees are busy doing research every year and this speaks volumes about the good business environment of Samsung. Taking these factors into account, it can be summarized that both Apple and Samsung have a competitive and innovative business climate. However, Apple is one step ahead, as it is more proactive in terms of innovation and product development.