This chapter covers the following objectives:

  • The importance of implementing strategies and practices that foster innovation.
  • The challenges and pitfalls of managing corporate innovation processes.
  • How corporations use new venture teams, business incubators, and product champions to create an internal environment and culture that promote entrepreneurial development.
  • How corporate entrepreneurship achieves both financial goals and strategic goals.
  • The benefits and potential drawbacks of real options analysis in making resource deployment decisions in corporate entrepreneurship contexts.
  • How an entrepreneurial orientation can enhance a firm’s efforts to develop promising corporate venture initiatives.