Corporate entrepreneurship involves formal and informal activities aimed at new business creation within established companies, the strategic renewal of existing business, and ultimately, the search for sustainable competitive advantage in an increasingly globalized economy. The importance of such entrepreneurial actions on the part of established organizations has been acknowledged for well over two decades in academic literature, yet much remains to be revealed about how corporate entrepreneurship is enacted in different organizational settings.
This book examines endeavors to foster ‘local entrepreneurship’ within a large conglomerate multinational enterprise – Siemens AG. Founded in 1847 as Siemens & Halske AG by Werner von Siemens, Siemens AG today represents one of the oldest companies among the top global players, and is currently ranked 58 in terms of revenue in the Global Fortune 500 (2014). In early 2009, following a prolonged period of business stagnation and a huge bribery scandal, Siemens' top management identified a severe lack of entrepreneurship in the company as a critical issue. The strengthening of ‘local entrepreneurship’ was thus made a new key action item in the strategic planning of Siemens AG for 2010 to 2014. Through an examination of three very different entrepreneurial initiatives in the Siemens business unit Fire Safety between 2008 and 2012, the book identifies key drivers and impediments to corporate entrepreneurship in this global organization.
This book thus offers a rare contribution to our growing – yet still fledgling – understanding of corporate entrepreneurship in global corporations.
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| Acknowledgements |
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viii | |
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1 What is this book about? |
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1 | (25) |
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26 | (22) |
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3 Perceptions of corporate entrepreneurship |
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48 | (15) |
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4 A process-oriented organisation |
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63 | (22) |
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5 Subsidiary mandates and initiative |
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85 | (22) |
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6 Managing human resources |
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107 | (32) |
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7 Sustained inertia in corporate entrepreneuring |
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139 | (28) |
| Index |
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167 | |
Joe J. Amberg holds a DBA from Strathclyde University, UK, a MBA from University of St.Gallen and a Bachelor of Science from University of Rapperswil (CH). He is currently engaged in global portfolio project management and is project lead of critical innovation projects for V-ZUG AG, a Swiss household appliances corporation. From 1999 to 2012 Joe was employed in the Siemens Business Technologies Division, Fire Safety Unit, or its predecessors. His various roles included Head of R&D Fire Systems, Project Portfolio Manager Fire Systems, Global R&D Coordinator and Innovation Manager, Integration Manager for a Korean acquisition, and Business Development and Strategy for the global fire safety business.
Sara L. McGaughey is Professor of International Business at Griffith University, Australia. She holds a PhD (Management) from University of Queensland, and an MBA (International Business) and a Bachelor of Arts (Japanese) from Monash University, Australia. Saras research interests include international new venturing, corporate entrepreneuring in global firms, headquarter-subsidiary relations, institutional entrepreneurship and global standards, foreign direct investment and knowledge spillovers, and qualitative research methods. She has published in Academy of Management Review, Journal of Management Studies and Journal of World Business, among others, and has authored a research monograph on portfolio entrepreneurship and internationalisation.
