nach oben

Small Business Economics

Erschienen in:

18.06.2019

Internal corporate venture planning autonomy, strategic evolution, and venture performance

verfasst von: Jeffrey G. Covin, Robert P. Garrett Jr, Donald F. Kuratko, Mark Bolinger

Erschienen in: Small Business Economics | Ausgabe 1/2021

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

Theory and research typically suggest that internal corporate (ICV) venture managers should be granted the freedom needed to manage their new business initiatives as they choose, with little or no interference from senior levels of corporate management. The current research investigates the relationship between venture planning autonomy and venture performance, arguing that this relationship is affected by the types (i.e., goal related or value proposition related) and levels (low-to-high) of strategic evolution occurring in the ICV. Data collected from 145 ICVs operating in 72 corporations indicate that venture planning autonomy is most positively related to venture performance when those ICVs’ goals remain stable over the course of venture operations, but the value propositions of those ICVs are evolving.

Vorheriger Artikel Small business property tax reductions and job growth

Nächster Artikel Credit constraints and exports of SMEs in emerging and developing countries

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Nur mit Berechtigung zugänglich

Bhide, A. (1994). How entrepreneurs craft strategies that work. Harvard Business Review, 72(2), 150–161.

Bhide, A. (2000). The origin and evolution of new businesses. New York: Oxford University Press.

Birkinshaw, J., & Hill, S. A. (2005). Corporate venturing units: vehicles for strategic success in the new Europe. Organizational Dynamics, 34(3), 247–257.CrossRef

Block, Z., & MacMillan, I. (1993). Corporate venturing. Boston: Harvard Business School Press.

Bouchard, V., & Fayolle, A. (2018). Corporate entrepreneurship. New York: Routledge.

Burgelman, R. A. (1988). Strategy making as a social learning process: the case of internal corporate venturing. Interfaces, 18(3), 74–85.CrossRef

Burgelman, R. A., & Valikangas, L. (2005). Managing internal corporate venturing cycles. MIT Sloan Management Review, 46(4), 26–34.

Covin, J. G., Slevin, D. P., & Heeley, M. B. (2000). Pioneers and followers: competitive tactics, environment, and firm growth. Journal of Business Venturing, 15(2), 175–210.CrossRef

Covin, J. G., Garrett, R. P., Jr., Kuratko, D. F., & Shepherd, D. A. (2015). Value proposition evolution and the performance of internal corporate ventures. Journal of Business Venturing, 30(5), 749–774.CrossRef

Covin, J. G., Garrett, R. P., Jr., Gupta, J. P., Kuratko, D. F., & Shepherd, D. A. (2018). The interdependence of planning and learning among internal corporate ventures. Entrepreneurship Theory and Practice, 42(4), 537–570.CrossRef

Gard, J., Katzy, B., Andersen, T. J., Baltes, G. H., & Gasser, T. (2018). Corporate venture management in small-medium sized enterprise: the roles and effects of autonomy and corporate policy. In The 24th ICE/IEEE International Technology Management Conference.

Garrett, R. P., Jr., & Covin, J. G. (2015). Internal corporate venture operations independence and performance: a knowledge-based perspective. Entrepreneurship Theory and Practice, 39(4), 763–790.CrossRef

Garrett, R. P., Jr., & Neubaum, D. O. (2013). Top management support and initial strategic assets: a dependency model for internal corporate venture performance. Journal of Product Innovation Management, 30(5), 896–915.CrossRef

Garud, R., & Van De Ven, A. H. (1992). An empirical evaluation of the internal corporate venturing process. Strategic Management Journal, 13(S1), 93–109.CrossRef

Garvin, D. A., & Levesque, L. C. (2006). Meeting the challenge of corporate entrepreneurship. Harvard Business Review, 84(10), 102–112.

George, R., & MacMillan, I. C. (1985). Corporate venturing: venture management challenges. Journal of Business Strategy, 6(2), 85–91.CrossRef

Ginsberg, A., & Hay, M. (1994). Confronting the challenges of corporate entrepreneurship. European Management Journal, 12(4), 382–389.CrossRef

Glaister, K. W., Husan, R., & Buckley, P. J. (2003). Decision-making autonomy in UK international equity joint ventures. British Journal of Management, 14(4), 305–322.CrossRef

Heckman, J. (1979). Sample selection bias as a specification error. Econometrica, 47(1), 153–161.CrossRef

Hill, S. A., & Georgoulas, S. (2016). Internal corporate venturing: a review of (almost) five decades of literature. In S. A. Zahra, J. Hayton, & D. O. Neubaum (Eds.), Handbook of corporate entrepreneurship (pp. 13–63). Cheltenham: Edward Elgar.CrossRef

Johnson, K. L. (2005). Predicting internal corporate venture performance: process, resource, strategic and structural considerations. Unpublished dissertation, Bloomington, IN: Indiana University.

Johnson, K. L. (2012). The role of structural and planning autonomy in the performance of internal corporate ventures. Journal of Small Business Management, 50(3), 469–497.CrossRef

Kanter, R. M. (1989). Swimming in newstreams: mastering innovation dilemmas. California Management Review, 31(4), 45–69.CrossRef

Kiss, A. N., & Barr, P. S. (2015). New venture strategic adaptation: the interplay of belief structures and industry context. Strategic Management Journal, 36(8), 1245–1263.CrossRef

Klein, H. J., Wesson, M. J., Hollenbeck, J. R., & Alge, B. J. (1999). Goal commitment and the goal-setting process: conceptual clarification and empirical synthesis. Journal of Applied Psychology, 84(6), 885.CrossRef

Kuratko, D. F., Covin, J. G., & Garrett, R. P., Jr. (2009). Corporate venturing: insights from actual performance. Business Horizons, 52(5), 459–467.CrossRef

Kutner, M. H., Nachtsheim, C. J., & Neter, J. (2004). Applied linear regression models. New York: McGraw-Hill Irwin.

Leten, B., & Van Dyck, W. (2012). Corporate venturing: strategies and success factors. Review of Business and Economic Literature, 57(4), 243–256.

Locke, E. A., Latham, G. P., & Erez, M. (1988). The determinants of goal commitment. Academy of Management Review, 13(1), 23–39.CrossRef

Lynn, G. S., Reilly, R. R., & Akgun, A. E. (2000). Knowledge management in new product teams: practices and outcomes. IEEE Transactions on Engineering Management, 47(2), 221–231.CrossRef

MacMillan, I. C., & George, R. (1985). Corporate venturing: challenges for senior managers. Journal of Business Strategy, 5(3), 34–43.CrossRef

McGrath, R. G. (1995). Advantage from adversity: learning from disappointment in internal corporate ventures. Journal of Business Venturing, 10(2), 121–142.CrossRef

McGrath, R. G. (2001). Exploratory learning, innovative capacity, and managerial oversight. Academy of Management Journal, 44(1), 118–131.

McGrath, R. G., Keil, T., & Tukiainen, T. (2006). Extracting value from corporate venturing. MIT Sloan Management Review, 48(1), 50–56.

Miller, D., & Friesen, P. H. (1982). Innovation in conservative and entrepreneurial firms: two models of strategic momentum. Strategic Management Journal, 3(1), 1–25.CrossRef

Morris, M. H., Kuratko, D. F., & Covin, J. G. (2011). Corporate entrepreneurship & innovation (3rd ed.). Mason: Cengage/Southwestern Publishing.

Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design: how to create products and services customers want. New York: John Wiley & Sons.

Payne, A., Frow, P., & Egger, A. (2017). The customer value proposition: evolution, development, and application in marketing. Journal of the Academy of Marketing Science, 45(4), 467–489.CrossRef

Piercy, N. F. (2016). Market-led strategic change: transforming the process of going to market. London: Routledge.CrossRef

Raudenbush, S., & Bryk, A. (2002). Hierarchical linear models (2nd ed.). Thousand Oaks: Sage Publications.

Semadeni, M., Withers, M. C., & Certo, S. T. (2014). The perils of endogeneity and instrumental variables in strategy research: understanding through simulations. Strategic Management Journal, 35(7), 1070–1079.CrossRef

Simon, M., Houghton, S. M., & Gurney, J. (1999). Succeeding at internal corporate venturing: roles needed to balance autonomy and control. Journal of Applied Management Studies, 8(2), 145.

Stock, J. H., & Yogo, M. (2005). Testing for weak instruments in linear IV regressions. In D. W. K. Andrews & J. H. Stock (Eds.), Identification and inference for econometric models (pp. 80–108). Cambridge: Cambridge University Press.CrossRef

Sykes, H. B. (1986). The anatomy of a corporate venturing program: factors influencing success. Journal of Business Venturing, 1(3), 275–293.CrossRef

Thornhill, S., & Amit, R. (2001). A dynamic perspective of internal fit in corporate venturing. Journal of Business Venturing, 16(1), 25–50.CrossRef

Weiss, L. A. (1981). Sloan Management Review 23(1), 37–53.

Wiklund, J., Baker, T., & Shepherd, D. (2010). The age-effect of financial indicators as buffers against the liability of newness. Journal of Business Venturing, 25(4), 423–437.CrossRef

Zook, C., Allen, J., Earle, N., & Keen, P. (2001). Profit from the core. Boston: Harvard Business School Press.

Titel: Internal corporate venture planning autonomy, strategic evolution, and venture performance
verfasst von: Jeffrey G. Covin
Robert P. Garrett Jr
Donald F. Kuratko
Mark Bolinger
Publikationsdatum: 18.06.2019
Verlag: Springer US
Erschienen in: Small Business Economics / Ausgabe 1/2021
Print ISSN: 0921-898X
Elektronische ISSN: 1573-0913
DOI: https://doi.org/10.1007/s11187-019-00220-2

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Weitere Artikel der Ausgabe 1/2021

Local economic freedom and creative destruction in America

Regional income inequality: a link to women-owned businesses

Bidding against the odds? The impact evaluation of grants for young micro and small firms during the recession

Firm size differences in financial returns from flexible work arrangements (FWAs)

What impact does equity crowdfunding have on SME innovation and growth? An empirical study

Investors’ evaluation criteria in equity crowdfunding

Premium Partner