Corporate entrepreneurship : the Gillette Company
- The Gillette company today
- Historical overview
- Keys of Gillette's success
Entrepreneurship is the process of creating value by bringing together a unique combination of resources to exploit an opportunity. Corporate entrepreneurship involves the development within an existing corporation of internal markets and autonomous business units, producing products, services, or technologies that employ the firm's resources in a unique way to capitalize on identified opportunities for growth. Basically, there are 3 options for a company: Innovation, which includes creating and introducing products and services, or finding new business models and improving processes. Renewal, which includes revitalizing the company's operations by changing the scope of its business, its competitive approaches or both. Building or acquiring new capabilities and leveraging them to add value. Venturing, which means that the company will enter new businesses by expanding operations in existing or new markets. The most important thing when innovating is to invest in Research & Development, brainstorming, market studies etc. Innovation is essential to achieve higher income, to adapt to the developing environment, and to develop the company itself. I think it would be very interesting to see how innovation and entrepreneurship are managed in the Gillette Company. We will see that in Gillette, it's not only entrepreneurship, but rather Strategic Entrepreneurship, which represents highly consequential innovations that are adopted in the firm's pursuit of competitive advantage.