In this study, after a brief discussion on concepts of entrepreneurship and its dimensions, based on the literature review several structural and contextual measures of entrepreneurial organizations were identified. These include formalization, specialization, standardization, hierarchy of authority, complexity, centralization, size, technology, environment and culture. Then a survey questionnaire was conducted to test Iran Insurance Corporation's readiness to becoming an entrepreneurial organization. The findings of this study show that bureaucratic structural and contextual environment of Iran Insurance Corporation is not favorable for an entrepreneurial climate to emerge.