Presentation of Corporate Entrepreneurship Model in Corporate Ventures with the Corporate Governance in Iran

Subject Areas : Water Resource Management

Mohammad hassan Torabi ¹ , Kamal Sakhdari ² , Mohamad Azizi ³ , Morteza Mosakhani ⁴

1 - PhD student, Entrepreneurship Department, Qazvin Branch, Islamic Azad University, Qazvin, Iran
2 - Assistant Professor, Department of Entrepreneurship, University of Tehran, Tehran, Iran (in charge of correspondence)
3 - Assistant Professor, Department of Entrepreneurship, University of Tehran, Tehran, Iran
4 - Professor, Public Administration Department, Science and Research Unit, Tehran, Iran

Received: 2020-02-02 Accepted : 2020-04-27 Published : 2022-08-23

Keywords: "Corporate Entrepreneurship", "Corporate Ventures", "Parent Company" (Multi-Business), "Corporate Governance",

Abstract :

Internal Corporate Venturing has grown dramatically in recent years and has become a business growth strategy and has an important role in corporate profitability. However, research in this field, especially in context of Iran, is scattered. Since entrepreneurial behaviors are primarily centered on entrepreneurial opportunities, this research seeks a qualitative approach and focuses on the selected food industries, to present a Corporate Entrepreneurship Model in Corporate Ventures with the Corporate Governance. The results of this research in the field of Iran context, shows that professionalism (hiring expert and professional managers), diversity in board members (not restricting them to family members, etc.), passive control, or feedback from activity (Setting challenging goals and periodic oversight of actions) as well as implementing entrepreneurial compensation policies such as equity rewards and cash and non-cash rewards can play an effective role in adopting strategies and monitoring and controlling the implementation of programs at the parent company. Moreover the implementation of corporate governance mechanisms, factors such as the use of people in different areas of expertise, professional expertise and sufficient motivation to progress the organization goals can drive Internal Corporate Venturing activities using corporate governance mechanisms. These results can provide valuable insights into identifying the behaviors required for the development of corporate entrepreneurship in parent companies through Internal Corporate Venturing.