Thesis (MComm (Business Management))--University of Stellenbosch, 2009. / This study recognises that innovation and renewal is instrumental in gaining competitive advantage. However, large firms often face a renewal dilemma. Despite the fact that many firms recognise the need for innovation and renewal, they find it challenging to implement innovation. Thus, the need for renewal is complicated by finding a suitable business development tool to bring about the renewal needed. The problem is further aggravated by a fundamental managerial conflict of exploration and exploitation. This conflict causes a reluctance to engage in exploration activities (searching for new resources, knowledge, and competence), due to the operational focus of exploiting current resources, knowledge, and competence. To overcome the renewal dilemma, this study investigated the relationship and linkages between Internal Corporate Venturing (ICV) and corporate renewal to determine how Internal Corporate Venturing (ICV) can be used as a tool to initiate corporate renewal and overcome the renewal dilemma. The study made use of a qualitative, mixed-method methodology and investigated the research problem in two phases. The first phase of this study used Grounded Theory to propose a theoretical framework that illustrated how ICV provides a firm with a strategic process that effectively balances exploration and exploitation activities, providing the linking mechanisms needed between a firm’s corporate context and its external environment, enabling the firm to initiate corporate renewal. In the second stage of this study, the theory was assessed, by comparing the proposed theoretical framework to a case study involving an internal venturing programme at an established financial services firm in Southern Africa. Based on a comparison between the proposed theoretical framework and the case study, this thesis concludes that ICV could theoretically be used to address the renewal dilemma; however, it was not possible to confirm this proposition, due to the stage in which the corporate venturing programme the case examined found itself,. The case study did however suggest that ICV could enhance a firm’s ability to instigate corporate renewal, through its ability to create idiosyncratic endowments from a firm’s endowment base.

The aim of this thesis is to expand current knowledge on the development of corporate entrepreneurship and to contribute new theoretical and empirical insights into strategic entrepreneurship. To those ends, the thesis attempts to answer two research questions. First, how has the field of corporate entrepreneurship research evolved in terms of main themes, applied methods and theory, and what do these developments reveal about the future trajectories of the field? Second, what is the relationship between internal organizational factors and strategic entrepreneurship in the form of sustained regeneration, organizational rejuvenation, and strategic renewal? To answer the first question, a systematic and comprehensive review of 344 articles addressing the development of research on corporate entrepreneurship during 1969–2017 was conducted. To answer the second question, a survey was administered at a major financial services company to examine the relationship among four internal organizational factors and three forms of strategic entrepreneurship. The overall conclusion of the literature review is that corporate entrepreneurship is a growing and, in several respects, maturing field of research. Signs of its maturity are undermined, however, by the lack of commonly applied theories and theoretical frameworks. Those findings take support from the overall conclusion of the second study, which highlights the need to develop and further test empirically existing frameworks, constructs, and theoretical connections within literature on strategic entrepreneurship. Taken together, the findings of the thesis suggest that corporate entrepreneurship faces the difficult challenge of developing a set of more distinct, unifying theories and conceptual frameworks. Concerning strategic entrepreneurship, it is concluded that research on this topic should consider specific organizational structures and conditions of the company and, at the same time, it should also develop greater sensitivity to the effects of industry and institutional settings. The findings also highlight that internal organizational factors could have differentiated effects on the main forms of strategic entrepreneurship. / <p>Vid tidpunkten för framläggningen av avhandlingen var följande delarbeten opublicerade: delarbete 1 (inskickat), delarbete 2 (inskickat).</p><p>At the time of the defence the following papers were unpublished: paper 1 (submitted), paper 2 (submitted).</p>

With the onset of globalisation and markets being exposed to the effects of global recessions and economic downturns, the fundamental principles on which business operates have changed substantially. Some businesses have thrived in this new context, whilst others have struggled to remain competitive as is evident by the increasing trend of corporate failures and the considerable increase in liquidations. As a result the concept of corporate renewal and business rescue has become an integral element of the strategy of organisations, particularly those that are financially distressed.South Africa responded through the introduction of the new South African Companies Act 71 of 2008, which came into effect in May 2011 and contained a new chapter called Chapter 6: Business rescue and Compromise with Creditors. However one of the critical components of the success of the business rescue, which has been largely unsuccessful to date, involves securing turnaround finance (post-commencement finance) to restore the company‘s financial health.The aim of this study was to find substantive evidence that the presence of post-commencement finance in South African companies does not exist, as opposed to the findings of international research, as well as the exploration and confirmation of factors that result in the successful raising of post-commencement financing.To this end, qualitative research with an exploratory design was conducted. Eighteen leading South African business rescue experts were interviewed to uncover their unique insights regarding this dilemma. The rich data that was unearthed was analysed using content and narrative analysis against the propositions derived from the literature. The empirical findings confirmed that the current level of PCF in South Africa is non-existent due to various reasons. A host of critical success factors and reasons for disinterest were identified which formed the basis of a framework informing the best practice guidelines when raising PCF. Some of these include many of unintended consequences of the newness of the Act, business rescue processes being left too late, the poor financial state of the business that eventually files for rescue and the significant impact on the outcome by some of the key players (e.g. the fiannciers and business rescue practitioners). These guidelines will solve the dilemma under review by benchmarking them to international best practice.Several important areas for future research emerged, alongside the recommendations of insights gained outlined for the various stakeholders. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted