A health audit for corporate entrepreneurship: innovation at all levels: part I

Purpose Identifies issues to consider when designing a corporate entrepreneurship strategy, discuss the triggers of corporate entrepreneurship, and describe an internal work environment that supports corporate entrepreneurship. Design/methodology/approach Based on the extant literature, case studies, and the authors' experiences with a diverse mix of companies, the nature and importance of a corporate entrepreneurship strategy is described, together with insights into the internal and external factors that facilitate corporate entrepreneurship and a strategy used to support it. Findings The ability to foster high levels of entrepreneurial intensity and formulate effective corporate entrepreneurship strategy is associated with key elements of the organizational climate. Four major climate variables are assessed. Conclusions are drawn regarding the value an entrepreneurial mindset creates when used in established firms. Research implications Raises a number of questions regarding the role of strategic versus non‐strategic approaches to encouraging entrepreneurship and innovation in larger, established companies, as well as the relative importance of differing triggering events and various climate variables in influencing a successful corporate entrepreneurship strategy. Practical implications Demonstrates to managers how to strategically approach the concept of entrepreneurship within a larger organization, including how to design an internal work environment that is conducive to encouraging employees to act on their innate entrepreneurial potential. Originality/value Fulfills a missing gap in terms of how established firms can make entrepreneurship a core element of their approaches to strategic management and offers practical insights into some of the more vital factors that contribute to sustainable levels of entrepreneurship in established firms.