Corporate Entrepreneurship Strategy and the Survival of Small to Medium Tourism Enterprises in Zimbabwe

Abstract

Corporate Entrepreneurship (CE) has been increasingly recognised as a legitimate path to firm performance and survival. However, the use of CE as a survival strategy by Small to Medium Tourism Enterprises (SMTEs) is a neglected stream in most studies and models of CE. Therefore, this study sought to assess the use of CE as a survival strategy by SMTEs operating in volatile economic conditions. A quantitative methodology was adopted for this study and a sample of 150 respondents was used to participate in the survey. The study established that the use of CE contributes to a greater extent to the survival of SMTEs. CE activities are quite significant although they do not follow a uniform pattern, a development which has a bearing on the lifespan or survival of SMTEs. The results also indicate that, despite efforts by SMTEs, they still face constraints in adopting the strategy. It is recommended that SMTEs in Zimbabwe should collaborate with different stakeholders like Government and training institutions to bring together resources to promote research and development. Open innovation can also act as a panacea of this problem, where employees can showcase their entrepreneurial abilities through competition of ideas.