Abstract
Now more than ever, entrepreneurship is of key importance for family firms’ competitive advantage, growth and survival – a vital component of long-term prosperity. Through corporate entrepreneurship, firms can innovate, set up new businesses and transform themselves by actively exploiting the opportunities they identify. To succeed at corporate entrepreneurship, it is not only essential to recognise both valuable and viable opportunities, but also take action to effectively exploit them – that is, deploying the necessary resources and investments to take these opportunities as soon as they have been identified.