A competency‐based framework for promoting corporate entrepreneurship

Abstract

Corporate entrepreneurship, the discovery and pursuit of new opportunities through innovation and venturing, is an important source of competitive advantage. Corporate entrepreneurship involves a diverse set of activities such as innovation in products and processes; the development of internal and external corporate ventures; and the development of new business models, which require an array of roles, behaviors, and individual competencies. In this article, we define individual competencies and distinguish them from other individual difference constructs. We argue that given the unique requirements of corporate entrepreneurship, a competency‐based approach to assessing organizational human capital needs is superior to more traditional job‐analytic methods. Drawing on existing literature, we outline a competency framework for supporting corporate entrepreneurship and infer the underlying, measurable knowledge, skills, and abilities that contribute to these competencies. We conclude with a discussion of the implications of this framework for the staffing, training and development, and performance‐appraisal practices of firms seeking to promote corporate entrepreneurship. © 2006 Wiley Periodicals, Inc.

Technology entrepreneurship research opportunities: insights from across Europe

“…The papers in this special issue have highlighted empirically how the individual-organizational level nexus can be explored, yet there are numerous opportunities to examine this nexus using different theoretical approaches. For instance, Rasmussen et al (2011) adopt Hayton and Kelley's (2006) competency theory, built within corporate venturing and use this to explain how academic entrepreneurs develop competencies together with industrial partners in the creation of university spin offs. Such a competency approach could be applied to better explain the relative efficacy of different support measures for academic entrepreneurs such as incubators, accelerators and science and technology parks (Link et al 2015).…”

Achieving strategic renewal: the multi-level influences of top and middle managers’ boundary-spanning

“…The ability to bridge knowledge from a variety of organizational domains, i.e., spanning boundaries, is seen as vital to promoting CE (Hayton and Kelley 2006). Managers' boundary-spanning activities have been linked to outcomes closely related to strategic renewal, such as creativity, new product development, and service enhancement (Carlile 2004;Hargadon and Sutton 1997;Tortoriello et al 2012).…”

Strategic Management of Business Performance Based on Innovations and Information Support in Specific Conditions of Slovakia

“…The development of new products and services through innovation is increasingly seen as an essential tool for sustained organizational performance (Covin & Miles, 2007, Zahra & Covin, 1995. This process of renewal through innovation is often referred to as corporate entrepreneurship (Phan, Wright, Ucbasaran & Tan, 2009) and organizations are increasing efforts to build capabilities in this area (Hayton & Kelley, 2006).…”

“…While a significant amount of research has addressed strategies leading to effective innovation within established organizations (Covin & Miles, 2007, Hayton & Kelley, 2006, less is known about the use of management practices in motivating appropriate attitudes and behaviors from employees involved in this effort (Marvel, Griffin, Hebda & Vojak, 2007). The experience of many companies and the results of empirical scientific studies point to the fact that small firms are significantly more innovative than large, while being much more flexible on the issue of the speed of the process of innovation.…”