Corporate entrepreneurship termed as intrapreneurship has become a method for revitalizing business processes. Addressing the ever-intensifying hyper-competition, there is a huge amount of untapped human innovative potential within the organizations that often remains largely untapped. Corporate entrepreneurship is the process by which individuals inside organizations develop technical capability, generate resources and skills as per the need and satisfaction of the market in competitive environment. This process leads to the transformation of companies through a renewal of their key ideas as well as firms engage in diversification through internal development. These are the efforts of innovation, renewal and venturing.
Thus, corporate entrepreneurship focuses on development of new ideas and opportunities within large or established business organisations, improvement of organizational profitability and sustain in competitive environment with strategic renewal of an existing business. In addition to focus on innovation, corporate entrepreneurship also focuses equally on venturing and these two processes of innovation and venturing work in synergy as the organizations undertake innovations across the entire organizational spectrum, from product and process to technology and administration. There is a need for setting up corporate entrepreneurship environment in each and every business organization. This environment relies heavily on a system of continuous analysis, feedback and leadership development in the organizations at all levels. In addition to these features, corporate social responsibility is an integral part for the growth of corporate sector.
Corporate entrepreneurship is the important thematic area for Asia Pacific EDI in which it continuously works through its programmes of training, academics, research, publications, project management and consulting.