Corporate venturing – a new way of creating a company’s future

  • Thomas Baaken Managing Director of the Science-to-Business Marketing Research Centre, Münster http://orcid.org/0000-0002-2201-8645
  • Carina Alfert Academic Researcher, Science-to-Business Marketing Research Centre, Münster, Münster & VU Vrije Universiteit Amsterdam, The Netherlands
  • Thorsten Kliewe Research Director of the Science-to-Business Marketing Research Centre, Münster

Abstrakt

Purpose – More and more companies are embarking on an experimental journey into an unpredictable future – a future that is characterised by uncertainty and new challenges. Corporate venturing enables established companies, so-called incumbents, to deal with new markets and business models in a highly flexible and innovative way, besides their existing business and well known, successful business models. A new innovator’s dilemma has emerged: not only established companies are required to be increasingly creative and to question existing thought patterns, but it is similar for start ups and new businesses.
Research method – After conceptualising the paper and conducting literature bibliometry by VOSviewer, the research gap was identified. It is based on the three presented approaches: Causation, Effectuation and Bricolage as transformative approaches for strategic decision-making. Using a qualitative research by conducting 30 in-depth interviews, a transcription and a MaxQDA analysis, 5 identified corporate venturing
tools were shown.
Originality / value – The paper introduces a new approach of management which rapidly gains importance and which is crucial for companies in upcoming times to compete with flexible and disruptive start-up based business models.

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2019-12-02
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