Presentation of the report "Corporate Entrepreneurship in Spain".
Deusto Business School, the Autonomous University of Madrid and the University of La Rioja, in collaboration with the consultancy firm Neoris
On 4 May 2017, the Rafael del Pino Foundation, the Santander International Centre for Entrepreneurship (CISE) and Banco Santander, through Santander Universities, are organising the presentation of the "Report on Corporate Entrepreneurship in Spain", a study prepared by Deusto Business School, the Autonomous University of Madrid and the University of La Rioja, in collaboration with the consultancy firm Neoris.
The event took place according to the following programme:
13:00 Welcome Federico Gutiérrez-Solana, Director of the Santander International Center for Entrepreneurship Vicente Montes, director of the Rafael del Pino Foundation
13:05 Description of the main data analysed in the study Pedro Irujo, NEORIS Vice President
13:20 Conclusions of the study Isidro de Pablo, Professor of Business Economics (Universidad Autónoma de Madrid)
13:30 Round table "Corporate entrepreneurship in Spain: the CEOs' vision". Andrés Arizkorreta, Executive President CAF Marcelino Oreja, CEO of ENAGÁS Javier Placer, CEO of TELEFÓNICA OPEN FUTURE Luis Enríquez, CEO of VOCENTO Iñaki Ortega, Director of Deusto Business School Madrid (moderator)
In just a few years, corporate entrepreneurship has gone from being an unknown reality in large companies to becoming one of the most recurrent areas of action in their strategic plans. The report Corporate Entrepreneurship in Spain: "Gazelles and elephants dance without stepping on each other" is a pioneer in addressing this business phenomenon in our country, and does so from an approach that combines academic rigour, with data from surveys of intrapreneurs and managers of 43 large companies, and a practical orientation aimed at facilitating incumbent and emerging organisations to innovate together and achieve common goals.
This study has been prepared by Deusto Business School, the Autonomous University of Madrid and the University of La Rioja, in collaboration with the consultancy Neoris, within the framework of the 1st Call for Research Projects of the Foundation of the University of Cantabria for the Study and Research of the Financial Sector through the Santander International Centre for Entrepreneurship (CISE), both linked to Santander Universities. It has involved companies such as: AXA, Banco Sabadell, Bankia, Bankinter, BBVA, CAF, Calidad Pascual, Cemex, Clear Channel, Correos,Cuatrecasas, Gonçalvez Pereira, Deloitte, Ecoembes, Enagás, Endesa, Engie, Everis, EY, Ferrovial,Garrigues, Gas Natural Fenosa, HP, HPE, Iberdrola, IBM, KPMG, Legálitas, Mahou San Miguel, Mapfre, Mercedes Benz, Microsoft, Palladium Hotel Group, Prisa, PwC, Repsol, Sacyr, Sanitas, Santander, Telefónica, Unidad Editorial, Vocento, Vodafone and Zurich.
On 4 May 2017, the Rafael del Pino Foundation hosted the presentation of the Report on "Corporate Entrepreneurship in Spain", prepared by Deusto Business School, the Autonomous University of Madrid, the University of La Rioja and the consultancy firm Neoris. The first intervention was given by Isidro de Pablo, Professor of Business Economics at the Autonomous University of Madrid, who said that corporate entrepreneurship is a boost to entrepreneurial organisations that aim to improve by incorporating related activities into their core business. It is an internal process within the organisation through which the aim is to create value and carry out a strategic reorientation towards the creation of new companies. The trigger for this can be internal or external. Internally, there has to be a management that takes corporate entrepreneurship seriously. In addition, the corporate culture must be flexible to accommodate and adapt to it. Likewise, a system of training and incentives must be established for these entrepreneurs and the company must provide resources for these initiatives. Externally, corporate entrepreneurship is determined by the dynamism of the markets in which the company operates, by technological changes, by the regulation of the labour market and by legislation on property rights. What is the Spanish entrepreneur like? The number of entrepreneurs has fallen between 2011 and 2014. Only 2% are intrapreneurs, compared to 4% on average in the European Union. Spain ranks 26th among the 28 EU Member States in this field. The profile is that of a professional, mature, with experience and training, who can undertake within the company or leave and do so outside it. And there is a link between development and entrepreneurial activity, as shown by the fact that Catalonia, Madrid, the Basque Country and Navarre are leaders in both fields. The barriers to corporate entrepreneurship lie in the strategic orientation of the company, the misconception of what a start-up is, risk aversion and lack of risk culture, mistrust of outsiders, lengthy decision-making processes, inadequate communication, rigid hierarchy and disorganised staff. Pedro Irujo, vice-president of Neoris, pointed out that more than 3,000 inputs were handled for the report, divided into four blocks: ecosystems, initiatives, tools and results, which were then divided by sector and company size. The report includes the 53.5% of the Ibex-35, which represents 21.2% of Spanish GDP. Among the results, 86% of the companies have a corporate entrepreneurship programme, 89% value the entrepreneurial spirit in their selection processes, 80% have mechanisms to detect entrepreneurs, 75% propose challenges aimed at corporate entrepreneurship and 88% consider it a critical success factor for senior management. But only 15% has policies to reward corporate entrepreneurs. What companies value most is the mentoring and networking they encourage. In this sense, contacts with real experience, with clients and with new investors for these initiatives are valued. 91% of companies believe that intrapreneurial activity will grow in the coming years, but only 23% are dedicated to contacting external entrepreneurs. Half of the companies dedicate less than 20% of their entrepreneurial budget to creating new companies and 88% do so using their own funds. This was followed by a dialogue between Andrés Arizkorreta, Executive Chairman of CAF; Marcelino Oreja, CEO of ENAGÁS; Javier Placer, CEO of TELEFÓNICA OPEN FUTURE, and Luis Enríquez, CEO of VOCENTO. Andrés Arizkorreta pointed out that corporate entrepreneurship is a totally different kind of entrepreneurship to what it used to be, when entrepreneurs set up their own companies. Reality has opened up that perspective because it gives us flexibility. The fear is that now we are turning the very activity of generating entrepreneurship into an elephant. Regarding the case of Enagás, Marcelino Oreja commented that when the entrepreneurship plan was proposed, the company was in the midst of a reorganisation process. When they started, they were met with enormous resistance, but they were able to transform the culture and give people opportunities. In this sense, Marcelino highlighted the importance of the fact that he had previously been an entrepreneur. Javier Placer, for his part, said that in his company they have identified the variables and that there is sufficient capacity to access financing. They have invested in more than 700 companies and have had them in their portfolio for four years, obtaining one hundred percent more value. To achieve this, the structure of the company itself must be very flexible and must be constantly innovating. Finally, Luis Enriquez explained that his sector is a challenge because it provides important services and the public changes its habits at full speed and with new tools. Therefore, new businesses have to appear that help them to increase turnover and that they can develop themselves or through entrepreneurs who have had ideas that they may need.
The Rafael del Pino Foundation is not responsible for the comments, opinions or statements made by the people who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their sole responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio González, are the result of the debates held at the meeting held for this purpose at the Foundation and are the responsibility of the authors.
The Rafael del Pino Foundation is not responsible for any comments, opinions or statements made by third parties. In this respect, the FRP is not obliged to monitor the views expressed by such third parties who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their own responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio J. González, are the result of the discussions that took place during the conference organised for this purpose at the Foundation and are the sole responsibility of its authors.