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internal venturing

Shaker A. Zahra and JiFeng Yu


Corporate venturing (CV) refers to the process by which an organization enters a new domestic or foreign market. This process enables established organizations to create and use products or process innovations to target new markets ( Venkataraman, MacMillan, and McGrath, 1992 ). These activities could be external (e.g., alliances, corporate venture capital and acquisitions) or internal. Internal venturing activities stimulate and promote entrepreneurial activities within a company's ongoing operations. Some refer to internal venturing as “internal entrepreneurship,” “intra‐corporate entrepreneurship,” or “internal corporate entrepreneurship” (for a review, see Schollhammer, 1982 ). The theoretical domain and importance of these activities have evolved over the past two decades, reflecting the changes that have occurred in the business environment and managerial practice. Earlier writings on internal venturing have highlighted formally sanctioned organizational activities intended to stimulate innovation in a firm's operations ( Schollhammer, 1982 ). Some of these activities are opportunistic in nature, exploiting transient opportunities in the firm's existing markets or operations. Internal venturing activities may be incubative, focusing on creating a setting in which new ideas or initiatives are explored, supported, evaluated, and institutionalized. Some incubative activities ... log in or subscribe to read full text

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