The main purpose of this study is to identify the drivers of corporate entrepreneurship (CE) and propose a model for implementing CE within the organization. We used a sample size of 39 firms all over India. We identified 500 firms practicing CE on the basis of number of products, markets, and services. In order to measure the CE outcomes, we adopted the model of Hornsby et al (2002), Kuratko et al (2005), Zahra (1991), and Sathe (2005). We identified 181 respondents from these firms. On the basis of structural equation modeling, the role of various dimensions including intelligence generation and dissemination, management support, work discretion, rewards and organization flexible boundaries were studied. Further, a model of critical success factors of CE has been proposed.