**2.2 Definition of corporate entrepreneurship**

To understand corporate entrepreneurship, it is important first to establish clarity around the meaning of entrepreneurship. While entrepreneurship is a widely used term, The Center for American Entrepreneurship identifies it as follows:

*'The process by which individuals or a group of individuals (entrepreneurs) exploit a commercial opportunity, either by bringing a new product or process to the market, or by substantially improving an existing good, service, or method of production. This process is generally organized through a new organization (a start-up company), but may also occur in an established small business that undergoes a significant change in product or strategy…' [4].*

Corporate entrepreneurship is similar to what we find in this definition because CE also attempts to exploit market opportunities. We indicated earlier that these opportunities are innovations or, in other words, the development of new products, services, ideas, discoveries, business models, and inventions. It can also include the improvement of already-existing products, services ideas, discoveries, business models or inventions. The goals for these activities are to satisfy unmet needs of customers and potential customers and to develop revenue and/or market growth for the organization as well as to create value for customers and potential customers. CE differs in that it does not typically create a new organization, although it can. It also is not reserved for the domains of small businesses. In fact, identifying the top corporate funders in the innovation process would provide a list of familiar names, including the following: Amazon, Alphabet (the parent company of Google), Huawei, Microsoft, and Apple [5]. In 2020, the biggest spender among them, Amazon, spent US\$42 billion, which was over 50% more than what the number two on the list, Alphabet, spent [5]. These are large companies that happen to be the biggest global spenders in innovation. Therefore, we think of corporate entrepreneurship as the process that leads to development or improvement of products, services, ideas, discoveries, and business models within an already existent business in order to uncover areas of revenue or market growth. Similarly, Schroeder, a *Forbes* contributor, defined CE as, 'senior management supporting employees to think and behave like entrepreneurs within the confines of an existing organizational structure' ([6], para. 2).
