Entrepreneurship at a Large Company Essay

Exclusively available on Available only on IvyPanda® Made by Human No AI

Today, there are thousands of opportunities to become an entrepreneur, and yet it can seem incredibly intimidating. With millions of companies in existence and hundreds emerging every day, some people might think like starting an entrepreneurial business could feel like inventing a bicycle. However, the world in everchanging, as are people’s preferences and needs. Therefore, there is constantly new areas of demand that have not yet been explored by others, and with a little attention and the right business strategies, these gaps in supply can become prospering businesses.

Most people, when they think of entrepreneurship, immediately associate the term with start-ups or companies started from scratch. However, it does not have to always be the case. Corporate entrepreneurship, or that inside an already existing large company, is a promising and advantageous field. Starting an entrepreneurial business within a large corporation has both upsides and downsides, and it is vital to be aware of both before committing to it.

First and foremost, what does it actually mean to become an entrepreneur within a large company? In simple words, it is the establishment of a new business within an existing organization (sumit). Mostly, this means addressing a particular part of the products or services offered by the company using innovation. For example, if a large fertilizers company recognizes the need for digitalization of its service in order to stay modern, it might encourage an internal start-up creation by entrepreneurs. In this case, the new business would have access to the resources of its parent company, but it would also be limited in its purpose. Therefore, although there are definite benefits, there are certain limitations as well, as mentioned previously.

Firstly, the numerous advantages include resource availability, brand reputation, and an existing team, to name a few. Unlike for those who attempt starting an entrepreneurial business from scratch, creating a start-up within the established company, especially a large corporation, allows for a bigger budget. Furthermore, it increases employee morale and job satisfaction, since they are in charge of all the innovations that benefit both them and the company (sumit). Furthermore, although fewer than 1% of U.S. corporations are considered “large businesses,” this means that they are likely to be highly recognizable (“4 Types of Entrepreneurship: Tips for Women to Succeed in Business”). Hence, there would be less difficulty gaining the necessary attention from customers for the start-up.

Nevertheless, there are also some disadvantages and pitfalls of such a venture that aspiring entrepreneurs must be aware of. For example, there might be a lot of pressure from the employer to turn the start-up successful in a short period of time. Although most start-ups fail statistically, a large company that invests in one might put the employees under pressure to not fail. Furthermore, it might take longer than otherwise to approve the business due to the formalities in the company hierarchy (sumit). Moreover, although there is a lot more potential access to resources, it is not guaranteed that they will be awarded to the small business (sumit). Since large companies have to deal with a lot of costs already, they might feel inclined to be careful with their spending on innovations unless they are completely certain on their success. Overall, the most important lesson is that all advantages and disadvantages, short and long-term, must be considered when starting a new business. Some failures along the way are unavoidable, but others can be anticipated and prepared for.

Works Cited

“4 Types of Entrepreneurship: Tips for Women to Succeed in Business.” Northeastern University, 2020, Web.

sumit. 101 Entrepreneurship, 2019, Web.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2022, November 15). Entrepreneurship at a Large Company. https://ivypanda.com/essays/entrepreneurship-at-a-large-company/

Work Cited

"Entrepreneurship at a Large Company." IvyPanda, 15 Nov. 2022, ivypanda.com/essays/entrepreneurship-at-a-large-company/.

References

IvyPanda. (2022) 'Entrepreneurship at a Large Company'. 15 November.

References

IvyPanda. 2022. "Entrepreneurship at a Large Company." November 15, 2022. https://ivypanda.com/essays/entrepreneurship-at-a-large-company/.

1. IvyPanda. "Entrepreneurship at a Large Company." November 15, 2022. https://ivypanda.com/essays/entrepreneurship-at-a-large-company/.


Bibliography


IvyPanda. "Entrepreneurship at a Large Company." November 15, 2022. https://ivypanda.com/essays/entrepreneurship-at-a-large-company/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
Privacy Settings

IvyPanda uses cookies and similar technologies to enhance your experience, enabling functionalities such as:

  • Basic site functions
  • Ensuring secure, safe transactions
  • Secure account login
  • Remembering account, browser, and regional preferences
  • Remembering privacy and security settings
  • Analyzing site traffic and usage
  • Personalized search, content, and recommendations
  • Displaying relevant, targeted ads on and off IvyPanda

Please refer to IvyPanda's Cookies Policy and Privacy Policy for detailed information.

Required Cookies & Technologies
Always active

Certain technologies we use are essential for critical functions such as security and site integrity, account authentication, security and privacy preferences, internal site usage and maintenance data, and ensuring the site operates correctly for browsing and transactions.

Site Customization

Cookies and similar technologies are used to enhance your experience by:

  • Remembering general and regional preferences
  • Personalizing content, search, recommendations, and offers

Some functions, such as personalized recommendations, account preferences, or localization, may not work correctly without these technologies. For more details, please refer to IvyPanda's Cookies Policy.

Personalized Advertising

To enable personalized advertising (such as interest-based ads), we may share your data with our marketing and advertising partners using cookies and other technologies. These partners may have their own information collected about you. Turning off the personalized advertising setting won't stop you from seeing IvyPanda ads, but it may make the ads you see less relevant or more repetitive.

Personalized advertising may be considered a "sale" or "sharing" of the information under California and other state privacy laws, and you may have the right to opt out. Turning off personalized advertising allows you to exercise your right to opt out. Learn more in IvyPanda's Cookies Policy and Privacy Policy.

1 / 1