Specific Examples of Corporate Entrepreneurship
To better understand the way corporate entrepreneurship can work in an organization, four examples—3M, Grameen Bank, Xerox, and Google—are discussed below.
Creativity, risk, innovation, and the spirit of entrepreneurship are words strongly associated with 3M (formerly Minnesota Mining and Manufacturing). Its products are ubiquitous; while some are widely well known, such as Post-it Notes and sandpaper products, others are found in medical equipment, dog food, and the Apple iPhones. In fact, to date, there are over 55,000 3M products in the market.7 The company’s secret to improving its existing products and bringing new products to market is its culture of innovation and corporate entrepreneurship. ...