Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/288011 
Year of Publication: 
2023
Citation: 
[Journal:] Creativity and Innovation Management [ISSN:] 1467-8691 [Volume:] 32 [Issue:] 2 [Publisher:] Wiley [Place:] Hoboken, NJ [Year:] 2023 [Pages:] 316-339
Publisher: 
Wiley, Hoboken, NJ
Abstract: 
To adapt their competitive advantages for successful strategic renewal, established companies must apply suitable innovation activities. One way to achieve this is the establishment of corporate venturing units that create organizationally consequential new business innovation for their parent company. However, the understanding of the distinctive organizational characteristics for such strategic corporate venturing is limited. To address this gap, our abductive study develops a conceptual organizational framework by linking key concepts of strategic renewal with corporate venturing. This framework is subsequently compared with insights emerging from the qualitative data of 29 corporate venturing units. This comparison allows us to define six types of units with different possible roles for the strategic renewal of the parent company, and a final exploratory organizational framework with distinctive organizational characteristics for strategic corporate venturing. These include a set of dynamic capabilities with corresponding resources as possible enablers for a planned innovation logic that requires interlinked‐ambidextrous structures. These findings provide a foundation for an empirical model of strategic corporate venturing, as well as novel insights for establishing dynamic capabilities and ambidexterity within interlinked organizational entities. Practitioners can build on these findings to leverage corporate venturing units as a systematic and organized innovation activity for strategic renewal.
Subjects: 
continuous innovation
corporate innovation
corporate venturing
corporate venturing units
dynamic capabilities
innovation management
new business innovation
organizational ambidexterity
strategic corporate venturing
strategic renewal
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article
Document Version: 
Published Version

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