The Potential for Major Corporations to Achieve Success through Entrepreneurship, Expanding Beyond the Conventional Focus on Startups

Abstract

The strategy of the Innovation Management System encompasses inter-company procedures and activities such as networking, management, marketing, and so on. The goal of this study is to provide instances of how knowledge creation works in these settings. This article is a qualitative survey that addresses how to apply open innovation techniques in Norwegian IT companies in order to obtain access to fresh business ideas. This research strives to increase awareness of the earlier question and provide guidance for future studies through the examination and evaluation of applicable literature. This improved grasp of how to use innovation management tactics would benefit both businessmen and authorities participating in proposal appraisal. This research focuses on the adoption of strategies by small businesses and startups, both of which are relatively unexplored areas for research. It offers suggestions for reality-based thinking, social media participation, and prepared versus haphazard tactics. Based on an in-depth questionnaire with four anonymous Norwegian digital samples, this empirical research article forms a study. This study lays out a clear strategy for analyzing the openness of invention and networked theories described in the objectives.

Contrary to earlier studies, this article will expose gaps and common problems created by start-ups rather than create seamless entrepreneurial tactics for the benefit of their organization. Following the final discussions with start-ups, the findings were coupled with library evaluations and associated theories, as well as empirical facts, to support the presented query. Finally, the findings are classified and categorized in the list below based on interviewer responses.