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Answer :
The correct answer to the question is C) Corporate entrepreneur.
A corporate entrepreneur, often referred to as an "intrapreneur," is someone who operates like an entrepreneur while working within an established company. These individuals focus on creating new business opportunities, driving innovation, and fostering growth from within the corporation.
Key Characteristics of Corporate Entrepreneurs:
Innovation Focus: Corporate entrepreneurs are tasked with thinking creatively and implementing innovative ideas that can benefit the company. They are often involved in developing new products, services, or processes that keep the company competitive and up-to-date with industry trends.
Resource Utilization: Unlike independent entrepreneurs, corporate entrepreneurs have access to the company's resources, including finance, human resources, and technology, allowing them to execute their innovative strategies more effectively.
Risk Management: While corporate entrepreneurs do take risks, they often do so within a framework that supports risk management, given the backing of the corporation. This environment allows them to experiment and innovate while minimizing personal financial risk.
Long-term Strategies: They often work on long-term projects that may not show immediate financial returns but are crucial for the company's future success.
Internal Support: Corporate entrepreneurs need support from upper management. Their success often depends on a supportive corporate culture that encourages experimentation and small-scale trial-and-error processes.
Examples of Corporate Entrepreneurship:
- Google: Known for encouraging intrapreneurship through initiatives like "20% time," where employees can spend 20% of their work time on personal projects.
- 3M: Notable for their "15% rule," allowing employees to use up to 15% of their time to pursue ideas that could lead to new product lines.
In essence, corporate entrepreneurship is vital for established businesses seeking to sustain growth and remain competitive by harnessing the innovative talents of their employees.
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