Open Access
Open access
Green Finance, volume 6, issue 1, pages 52-77

The corporate entrepreneurial and innovation processes for business sustainability: A critical overview and conceptual process model development

Olli Tammekivi 1
, 
Tõnis Mets 2
, 
Mervi Raudsaar 2
1
 
Evergreen Growers Supply, 15875 SE 114th Ave. Clackamas, OR 97015, USA | 
2
 
Publication type: Journal Article
Publication date: 2024-02-27
Journal: Green Finance
SJR: —
CiteScore: 9.6
Impact factor: 5.5
ISSN: 26431092
Industrial and Manufacturing Engineering
Environmental Engineering
Abstract
<abstract> <p>Entrepreneurship is a process that transpires over time. Every entrepreneurial journey is a unique process that is difficult to replicate in the exact way it happened. Entrepreneurial activities in an existing organization can, over time, form a specific staged process that allows a more structured way from generation to implementation of new ideas. Through its supporting structure, corporate entrepreneurship channels ideas through a process that helps people stay focused, systematic, and efficient in value creation. Entrepreneurship and innovation activities in this process are undeniably linked; however, the two disciplines do not address them uniformly. Therefore, the research describing the corporate entrepreneurial and innovation processes is not aligned. In this study, we aimed to analyze entrepreneurship and innovation process approaches comparatively in an existing business context and to propose the triple-bottom-line corporate entrepreneurial (conceptual) process model for innovation and business sustainability. We provided insight into the dynamics of the entrepreneurial process in the existing business over time: A roadmap to evaluate the enablers and the critical elements for the innovation to transform and sustain. We proposed a harmonized stage model of the corporate entrepreneurial innovation process, where stage output artifacts mark the progression of the process, making it measurable. We provided conclusions from the literature review, a generalized model, and propositions on critical aspects of the entrepreneurial innovation process to happen, transform, and sustain.</p> </abstract>
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