Growth is the important lessons for corporation. The key factors of growth are the spirit of innovation and entrepreneurship and the energy of next business. Corporate venture capital(CVC) can not only achieve these goals, but also provide many important strategic purposes, which is a innovative bridge connect to external and internal environment. However, how to effectively manipulate CVC in Taiwan is not clear. The purpose of this study is to analyze the situation of CVC in Taiwan nowadays, create the CVC categorization model and the work suggestion of each type. Through the literature discussion, we create CVC categorization model. According to the investment purposes and content, the model conclude six types, ¡§capacity strengthen, ecosystem complement, innovation probe, opportunity create, leverage harvest and venture investing.¡¨ Then, interviewing with experts who familiarity with the real business of CVC to understand the situation and comprehend the key successful factors. Finally, discuss, analyze and generalize the conclusion and suggestion. The success of CVC must match the investment strategic purposes and the operation model. Corporations should choose the right operation model type by different considerations such as organization structure, investment implement, and administration mechanism. Moreover, there are another five points of view deserve to refer. First of all, the open innovation of CVC is not equal to give up internal independent innovation. Second, the spirit of CVC can¡¦t be diverged. Third, CVC should step by step, from the ecosystem, innovation to encourage the intra-entrepreneur CVC type. Fourth, Corporations should have the courage to invest the potential business besides the current business even if will destroy the profit. Fifth, the managers must have the wider attitude and the further vision.

This paper uses event history analysis to investigate the effects of relatedness on three different outcomes of corporate venturing, identified as retention, termination, and spin-off. For this purpose, relatedness is defined as the degree to which the venture’s activity matches or overlaps with the parent’s activity. Drawing from literature on relational fit, we argue that highly related ventures would be retained, moderately related ones spun off, and unrelated ones would be probable candidates for termination. However, highly related ventures may be likely to pose internal threat to the parent, and consequently be candidates for termination for political reasons as well. This raises the average level of relatedness of terminated ventures above the average of spin-offs. The empirical findings derived from a sample consisting of 78 ventures launched and developed by a number of companies across the Swedish economy give support to our expectations. The highly related ventures were found to be either terminated or retained, moderately related ones were likely to be spun off, and unrelated ones typically faced termination. This supports our hypothesis that relatedness has an impact on how the internal venture is dealt with. We follow with implications for the practice of corporate venturing management.

This dissertation highlights the infrequently discussed role of the entrepreneur as founder of disruptive brands creating new categories often in a stealth-like manner. A recent corporate entrepreneurial response being pursued by Fortune 100 corporations’ renown for their branding prowess is examined in the dissertation called strategic brand venturing. Strategic brand venturing (SBV) is a boundary-spanning activity whereby large firms access disruptive brands and entrepreneurial marketing know-how through equity investments in entrepreneurial brands. Using an abductive logic, eleven practitioner-based dimensions of SBV are iteratively refined through comparisons with intersection literature and venturing literature and theory, to arrive at a conceptual model. In the process, comparisons are also made between technology venturing and brand venturing. This model is empirically tested and refined within and across seven case studies from six subsidiaries of global consumer packaged goods corporations in the United States. The final model borrows from prior venture capital and corporate venture capital models but caters for the exigencies of brands and entrepreneurial founders. The model also acknowledges the role of antecedents and the role of influential exogenous communities such as consumers and retailers. Using a realism philosophical perspective, deeper structures and generative mechanisms are uncovered related to strategic and political context factors. The positive benefits through partnership with brand entrepreneurs, and the potential contribution to heightened corporate entrepreneurship in large firms is highlighted. The dissertation concludes with propositions and suggestions for future research as well as implementation implications for practitioners.

This publication-based dissertation covers research on corporate venturing activities of established companies over six chapters. The first chapter provides an introduction into corporate venturing and a summary of the four research papers comprising this dissertation. The second chapter is a structured literature review analyzing the heterogeneity inherent in corporate venturing activities. The characteristics that differentiate corporate venturing activities from each other are comprehensively identified, and a framework that integrates existing activities into six clusters is derived. The third chapter is a research paper that explores a recent corporate venturing activity – namely corporate accelerators – in depth. This empirical study, based on 13 case studies, identifies the objectives pursued with these programs and its design configurations and derives four common types of corporate accelerators. The fourth chapter is a research paper that analyzes empirically entrepreneurial start-ups as knowledge sources for established companies in the context of corporate accelerators and incubators. The paper identifies knowledge need, knowledge forms, and knowledge exchange as knowledge elements in these programs. Based on the comparative analysis of 12 case studies, typical combinations of the knowledge elements are found. The fifth chapter is a teaching case study building on the decision of Media-Saturn-Holding, Europe´s leading consumer electronics retailer, to develop the company´s own corporate accelerator program called SPACELAB. The sixth chapter summarizes the contributions of this dissertation for research and practice as well as its limitations and potential directions for further research.:List of tables Table of figures Table of abbreviations 1 Introduction 1.1 Motivation and research gap 1.2 Summary of research papers 1.3 Presentation / publication information of research papers 1.4 References 2 Corporate venturing activities: a review of typologies and proposed framework 2.1 Introduction 2.2 Research method and descriptive analysis of reviewed studies 2.3 Dimensions of corporate venturing activities 2.4 Clustering of corporate venturing activities 2.5 Further research 2.6 Summary of findings and conclusion 2.7 List of appendices 2.8 Appendix 2.9 References 3 Corporate accelerators as recent form of start-up engagement: the what, the why, and the how 3.1 Introduction 3.2 Literature review 3.3 Analysis approach 3.4 Results of empirical analysis 3.5 Corporate accelerator typology: Four distinct types 3.6 Discussion and implications 3.7 Conclusion 3.8 References 4 Start-ups as knowledge sources for companies: an analysis of corporate accelerators and incubators 4.1 Introduction 4.2 Research approach 4.3 Knowledge elements in corporate accelerators and incubators 4.4 Typical combinations of knowledge elements 4.5 Discussion 4.6 Implications 4.7 Conclusions and limitations 4.8 List of appendices 4.9 Appendix 4.10 References 5 Media-Saturn-Holding GmbH - the SPACELAB accelerator: a teaching case study 5.1 Part 1: background and accelerator design options 5.2 Part 2: design choices made and program execution 5.3 Teaching note 5.4 List of appendices 5.5. Appendix 5.6 References 6 Contribution and further research 6.1 Contribution to research 6.2 Contribution to practice 6.3 Limitations and further research 6.4 References

Syfte: Syftet med studien är att berika litteraturen kopplad till hur etablerade företag kan överkomma de svårigheter som är förknippade med organisationsstrukturerna under implementeringsfasen av Internal Corporate Venturing. För att uppnå syftet undersöker vi följande forskningsfrågor: RQ1: Hur och varför skapar organisationsstrukturer svårigheter under implementeringsfasen för de etablerade företagen när de bedriver Internal Corporate Venturing RQ2: Hur kan etablerade företag övervinna svårigheter med organisationsstrukturer när de deltar i implementeringsfasen för Internal Corporate Venturing? Metod: Studien är en kvalitativ enskild fallstudie, där ett etablerat företag inom fordonsindustrin i Göteborg, Sverige har undersökts. Sammanfattningsvis har 31 intervjuer genomförts under tre vågor och analyserats via en tematisk analysmetod. Resultat: Resultatet av denna studie är ett ramverk och en färdplan som illustrerar svårigheter, konsekvenser och åtgärder avseende organisationsstrukturer under implementeringsfasen av Internal Corporate Venturing. De mest framträdande svårigheterna är bristen på lack of internal support systems och organizational behavior obstacles. De mest kritiska konsekvenserna är venture strategy obstacles och innovation failure. De viktigaste åtgärderna är att create a supportive culture och develop a learning organization. Implikationer: Denna studie bidrar med insikter i den bristande litteraturen om organisationsstruktursvårigheter under implementeringsfasen av Internal Corporate Venturing. För chefer bidrar den här studien med ett ramverk för hur företaget kan upptäcka och överkomma svårigheterna med hjälp av specifika åtgärder vid implementering av Internal Corporate Venturing. Slutligen presenterar studien en konceptuell färdplan för hur etablerade företag kan utveckla sin Internal Corporate Venturing process, vilket kan nyttjas av företagets chefer. Begränsning och framtida forskning: Denna studie är begränsad till att undersöka implementeringsfasen av Internal Corporate Venturing på ett enskilt företag, i en specifik bransch, vilket indikerar att framtida forskning kan undersöka andra branscher.  Nyckelord: Corporate Venturing, Internal Corporate Venturing, New Venture Creation, Organizational structures / Purpose: The purpose of the study is to enrich the literature connected to how incumbent firms can mitigate the difficulties connected to the organizational structures during the implementation phase of internal corporate venturing. To fulfill the purpose, we examinethe following researchquestions: RQ1: How and why doorganizational structures create difficulties during the implementation phase for incumbent firms when engaging in internal corporate venturing? RQ2: How can incumbent firms overcome difficulties with organizational structureswhen engaging inthe implementation phase of internal corporate venturing? Method: The study is a qualitativesingle case study, where one incumbent firm within the automotive industry situated in Gothenburg, Sweden has beeninvestigated. In sum, 31interviews havebeen conductedduring three waves and were analyzed via a thematic analysis approach. Findings: The result of this study is a framework and aroadmap illustrating the difficulties, consequences and mitigating actionsregardingorganizational structures during the implementation phase of internal corporate venturing. The most prominent difficulties are lack of internal support systemsand organizational behavior obstacles.The most critical consequences are venture strategy obstacles and innovation failure. The most important actions would be to create a supportive culture and develop a learning organization. Implications: This study contributes with insightsto the scarce literature on organizational structure difficultiesin the implementation phase of internal corporate venturing. For managers this study contributes with a frameworkon how to detect andmitigate the difficulties with specific actions that emergewhen implementing internal corporate venturing. Lastly, this study assist managers with a conceptual roadmap for how incumbent firms could develop theirinternal corporate venturingprocess, the roadmapcould be improved and refined over time. Limitation and future research: This study is limited to investigate theimplementation phase of internal corporate venturing on a single company, in a single industry, indicating that future research could investigate other industry settings. Keywords: Corporate Venturing; Internal Corporate Venturing; New Venture Creation;Organizational structures

Submitted by Luciana Ferreira (lucgeral@gmail.com) on 2016-09-30T15:51:45Z No. of bitstreams: 2 Dissertação - Maíra Jéssika Fernandes Silva - 2016.pdf: 1716551 bytes, checksum: d82edc90ee5c578bca1cfdbdc57ddcfa (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Approved for entry into archive by Luciana Ferreira (lucgeral@gmail.com) on 2016-09-30T15:51:57Z (GMT) No. of bitstreams: 2 Dissertação - Maíra Jéssika Fernandes Silva - 2016.pdf: 1716551 bytes, checksum: d82edc90ee5c578bca1cfdbdc57ddcfa (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Made available in DSpace on 2016-09-30T15:51:57Z (GMT). No. of bitstreams: 2 Dissertação - Maíra Jéssika Fernandes Silva - 2016.pdf: 1716551 bytes, checksum: d82edc90ee5c578bca1cfdbdc57ddcfa (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) Previous issue date: 2016-04-29 / External Corporate Venturing is one of the dimensions of corporate entrepreneurship, entrepreneurship practiced by existing companies. Through external corporate venturing companies seek survival, consolidation in the market in which they operate, explore new markets and obtain better financial returns. For the practice of external corporate venturing companies can make acquisitions, joint ventures, licensing, mergers and corporate venture capital transactions. This study focused on acquisitions and joint ventures as external corporate venturing practices. The impact of these practices on business performance is still inconclusive, so the aim of this study was to assess the impact of external corporate venturing in the performance of large companies. For this, we used secondary data disclosed by companies in the consumer discretionary sector and non-cyclical listed on the Bolsa de Valores de São Paulo (Bovespa). We analyzed the relevant facts disclosed in Comissão de Valores Mobiliários (CVM) for the collection of data on the ad acquisitions and joint ventures undertaken by those companies during the years 2010-2014, and the financial statements on the Bovespa for the collection financial data for performance measurement. The data were analyzed by regression data into fixed effect and random effect panel. Regression models were estimated with the performance variables return on assets (ROA) and return on equity (ROE). The results indicate that the realization of acquisition and joint venture operations have no statistically significant impact on ROA and ROE of large companies listed on the Bovespa. Although the results are not consistent with some previous studies on the topic, present contributions to the theory and practice, especially regarding the aspect of time that can be decisive in the relationship between acquisitions and joint venture operations and performance. For future studies recommended a bigger time horizon and verification of goals and strategies that companies have to invest in acquisitions and joint venture operations, because if adopted for the purpose of short-term financial returns may not be the most suitable . / O corporate venturing externo é uma das dimensões do empreendedorismo corporativo, o empreendedorismo praticado por empresas já existentes. Por meio do corporate venturing externo as empresas buscam a sobrevivência, consolidação no mercado em que atuam, exploração de novos mercados e obtenção de melhores retornos financeiros. Para a prática do corporate venturing externo as empresas podem realizar operações de aquisições, joint ventures, licenciamentos, fusões e corporate venture capital. Este estudo enfocou as aquisições e joint ventures como práticas de corporate venturing externo. O impacto destas práticas no desempenho das empresas ainda é inconclusivo, assim o objetivo deste estudo foi verificar qual o impacto do corporate venturing externo no desempenho das grandes empresas. Para isso, foram utilizados dados secundários divulgados pelas empresas dos setores de consumo cíclico e não cíclico listadas na Bolsa de Valores de São Paulo (Bovespa). Analisou-se os fatos relevantes divulgados na Comissão de Valores Mobiliários (CVM) para a coleta de dados referentes aos anúncios de aquisições e joint ventures realizados por essas empresas durante os anos de 2010 a 2014, e os demonstrativos contábeis na Bovespa para a coleta de dados financeiros para a mensuração do desempenho. Os dados foram analisados por meio de regressão com dados em painel de efeitos fixos e efeitos aleatórios. Os modelos de regressão foram estimados com as variáveis de desempenho retorno sobre o ativo (ROA) e retorno sobre o patrimônio líquido (ROE). Os resultados indicam que a realizaçao de operações de aquisição e joint ventures não apresentam impactos significativos estatisticamente no ROA e no ROE das grandes empresas listadas na Bovespa. Apesar dos resultados não serem condizentes com alguns estudos realizados anteriormente sobre o tema, apresentam contribuições para a teoria e para a prática, principalmente em relação ao aspecto do tempo que pode ser determinante na relação entre operações de aquisições e joint ventures e desempenho. Para estudos futuros recomenda-se um horizonte temporal maior e a verificação dos objetivos e estratégias que as empresas possuem ao investir em operações de aquisições e joint ventures, pois se forem adotadas com o objetivo de retornos financeiros a curto prazo podem não ser as mais indicadas.

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 background in which global organisations operate in at present is very competitive. In an ever faster growing global economy the role of the entrepreneur within the large organisation becomes more and more important to ensure the company keeps the competitive edge. The Linde Group is a world class company with a world class management strategy and systems to support the strategy. Part of the The Linde Group management strategy is being a high performing organisation, wanting to give all employees the opportunity to contribute to improvement by sharing their ideas with the company. This study was done at African Oxygen Limited, South Africa, a regional business unit in Africa for The Linde Group. African Oxygen Limited embarked on various programmes to create opportunities for employees to think in an entrepreneurial way. Middle managers at African Oxygen Limited play an important role in the innovation programs implemented at African Oxygen Limited. Against this background, this study seeks to confirm whether African Oxygen Limited, South Africa has a true entrepreneurial climate and whether the middle management level involved with these initiatives share this perception. Corporate entrepreneurship is characterised by people who are innovative, creative, spend time and take risks. To support these entrepreneurial activities, the organisation needs a climate and culture that is beneficial to these activities. An entrepreneurial orientation within an organisation is marked by dimensions such as innovativeness, pro–activeness, risk–taking, competitive aggressiveness and autonomy. The entrepreneurial behaviour among middle level managers is most critical to the effective implementation of corporate entrepreneurship. The primary objective of this study was to assess the entrepreneurial climate in African Oxygen Limited and to make recommendations to foster corporate entrepreneurship within the organisation. The literature review was instrumental to gather secondary data on corporate entrepreneurship and to understand its dynamics. In order to gain primary data, quantitative research was carried out. The study population comprised lower and middle management, who were requested to complete questionnaires. This was followed by statistical analysis. The empirical results indicate no practical significance in respondents' perception based on the gender of the respondents. However, the results do indicate practical significant differences between the relationship between the groups of middle and lower management level with respect to entrepreneurial climate and the perceived organisational success. An evaluation of the corporate entrepreneurial climate in the organisation was performed and the average mean for the study calculated. Seven out of 13 constructs evaluated had a mean above the average mean of x = 3.502, the other six constructs evaluated had a mean ranked lower than the average mean. All of the constructs still had a mean above three out of five. All four of the used variables measuring the perceived organisational success, were reported by respondents to have a mean above three which is the neutral point. The average mean of the perceived success of the organisation was 3.688. It was clear that the constructs for perceived organisational success had a fairly strong presence, but there is still room for improvement. With reference to the entrepreneurial climate within Afrox the conclusion is that it is not optimally entrepreneurial and initiatives put into practice that should encourage entrepreneurial behaviour, are falling short. The study concludes with practical recommendations on assessment of the achievement of objectives and suggestions for future research. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

The background in which global organisations operate in at present is very competitive. In an ever faster growing global economy the role of the entrepreneur within the large organisation becomes more and more important to ensure the company keeps the competitive edge. The Linde Group is a world class company with a world class management strategy and systems to support the strategy. Part of the The Linde Group management strategy is being a high performing organisation, wanting to give all employees the opportunity to contribute to improvement by sharing their ideas with the company. This study was done at African Oxygen Limited, South Africa, a regional business unit in Africa for The Linde Group. African Oxygen Limited embarked on various programmes to create opportunities for employees to think in an entrepreneurial way. Middle managers at African Oxygen Limited play an important role in the innovation programs implemented at African Oxygen Limited. Against this background, this study seeks to confirm whether African Oxygen Limited, South Africa has a true entrepreneurial climate and whether the middle management level involved with these initiatives share this perception. Corporate entrepreneurship is characterised by people who are innovative, creative, spend time and take risks. To support these entrepreneurial activities, the organisation needs a climate and culture that is beneficial to these activities. An entrepreneurial orientation within an organisation is marked by dimensions such as innovativeness, pro–activeness, risk–taking, competitive aggressiveness and autonomy. The entrepreneurial behaviour among middle level managers is most critical to the effective implementation of corporate entrepreneurship. The primary objective of this study was to assess the entrepreneurial climate in African Oxygen Limited and to make recommendations to foster corporate entrepreneurship within the organisation. The literature review was instrumental to gather secondary data on corporate entrepreneurship and to understand its dynamics. In order to gain primary data, quantitative research was carried out. The study population comprised lower and middle management, who were requested to complete questionnaires. This was followed by statistical analysis. The empirical results indicate no practical significance in respondents' perception based on the gender of the respondents. However, the results do indicate practical significant differences between the relationship between the groups of middle and lower management level with respect to entrepreneurial climate and the perceived organisational success. An evaluation of the corporate entrepreneurial climate in the organisation was performed and the average mean for the study calculated. Seven out of 13 constructs evaluated had a mean above the average mean of x = 3.502, the other six constructs evaluated had a mean ranked lower than the average mean. All of the constructs still had a mean above three out of five. All four of the used variables measuring the perceived organisational success, were reported by respondents to have a mean above three which is the neutral point. The average mean of the perceived success of the organisation was 3.688. It was clear that the constructs for perceived organisational success had a fairly strong presence, but there is still room for improvement. With reference to the entrepreneurial climate within Afrox the conclusion is that it is not optimally entrepreneurial and initiatives put into practice that should encourage entrepreneurial behaviour, are falling short. The study concludes with practical recommendations on assessment of the achievement of objectives and suggestions for future research. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

Henkel's New Business team is a corporate venturing unit that explores corporate entrepreneurial activities on behalf of Henkel Adhesives Technologies. The new business ideas are implemented through one of these models: incubator, venturing or innovation ecosystem. In current practice, there is no systematic framework in place to choose the implementation model. The goal of the thesis is to propose a framework for choosing the most appropriate model for implementation of a new business idea in Henkel. The thesis approaches the topic on practical and theoretical grounds. The first part outlines the related literature and theoretical focus. The literature covers definitions and theories of incubator, corporate venturing, corporate venture capital, innovation ecosystem and investment decision-making process. The practical approach relates to the company case studies of Philips, 3M and BASF. In this thesis, each model is analyzed based on a broad literature review, case studies and personal interviews with experts. The second part is the main discussion and analysis of the topic assembling with practical examples in Henkel. It comes to a recommendation that Henkel should prioritize and choose the most appropriate model for the new business proposal after the "concept scoping" stage, and before detailed investigation. It also proposes a scorecard framework that entails 14 key criteria for choosing the mode: degree of market competition, potential disruptiveness, technological risk, time to market, strategic alignment, degree of customization, dependency of related industries, technological newness of related industries, idea source, protectability of intellectual property, internal expertise, technological competence, commercial competence and parenting advantages. Furthermore, a new business developing strategy matrix is constructed based on two dimensions: strategic importance and operational relatedness. It is to further check the accuracy and validity of the results from the scorecard framework. Finally, it is suggested that future research can be done to improve the framework by adding weightings and scale of each criteria within the framework.