The aim of the present paper is to shed light on the concept of corporate entrepreneurship. The authors have attempted to highlight the different conceptualizations and explanations from renowned scholars in the domain of entrepreneurship pertaining to the corporate entrepreneurship and how it can result in worthy outcomes for businesses. Therein, the paper has reviewed and presented notable model explaining the predictors and consequences of corporate entrepreneurship. Specifically, the paper has attempted to work on linking corporate entrepreneurship with organizational performance. Through critical appraisal, the paper has also discussed the potential of organizational engagement in moderating this relationship. The paper forwards prepositions and conceptual model for scholars enthusiastic to study corporate entrepreneurship and its relationship with organizational performance following the buffering impact of organizational performance.