This paper presents a theoretical exploration of the construct of corporate entrepreneurship. Of the various dimensions of firm-level entrepreneurial orientation identified in the literature, it is argued that innovation, broadly defined, is the single common theme underlying all forms of corporate entrepreneurship. However, the presence of innovation per se is insufficient to label a firm entrepreneurial. Rather, it is suggested that this label be reserved for firms that use innovation as a mechanism to redefine or rejuvenate themselves, their positions within markets and industries, or the competitive arenas in which they compete. A typology is presented of the forms in which corporate entrepreneurship is often mani• fested, and the robustness of this typology is assessed using criteria that have been proposed for evaluating classificational schemata. Theoretical linkages are then drawn demonstrating how each of the generic forms of corporate entrepreneurship may be a path to competitive advantage.

Increasing environmental uncertainty has focused greater attention on firms’ overall business orientations, particularly on the marketing orientation and the entrepreneurial orientation. The major purpose of this empirical investigation was to determine whether the marketing orientation and entrepreneurial orientation represent the same or two unique business philosophies.

This study explores the domain of corporate venturing using a theoretically grounded classification typology as an organizing scheme. The typology is applied in a field study of corporations that are active In venturing and based in the United Kingdom or the United States. Corporate venturing is classified into four generic forms by the focus of entrepreneurship and the presence of investment intermediation: (1) direct-internal venturing; (2) direct-external venturing; (3) indirect-internal venturing; and (4) indirect-external venturing. A managerial decision framework is offered to assist corporate executives in selecting potentially appropriate forms of corporate venturing, given specific venturing objectives and corporate circumstances.

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