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Technologiebasierte Startups leisten einen wesentlichen Beitrag zur wirtschaftlichen sowie gesellschaftlichen Entwicklung. Im Zuge ihrer Gründung benötigen sie Unterstützung in Form von Risikokapital, das in der Seed- und Early-Stage primär durch Business Angels (BAs) bereitgestellt wird. Die Abläufe und Bewertungskriterien des BA Investmentprozesses sind bisher jedoch unzureichend erforscht. Der vorliegende Beitrag nutzt Experteninterviews im Rahmen einer Fallstudie des baden-württembergischen entrepreneurialen Ökosystems zur Identifikation des Vorgehens von BAs bei der Bewertung und Auswahl technologiebasierter Startups. Zudem werden die Kriterien, nach denen BAs vielversprechende von scheiternden Startups unterscheiden abgeleitet. Somit trägt der Beitrag zur Öffnung der „Black Box” von Investmentaktivitäten in den frühsten Gründungsphasen bei.
Today’s markets are characterized by fast and radical changes, posing an essential challenge to established companies. Startups, yet, seem to be more capable in developing radical innovations to succeed in those volatile markets. Thus, established companies started to experiment with various approaches to implement startup-like structures in their organization. Internal corporate accelerators (ICAs) are a novel form of corporate venturing, aiming to foster bottom-up innovations through intrapreneurship. However, ICAs still lack empirical investigations. This work contributes to a deeper understanding of the interface between the ICA and the core organization and the respective support activities (resource access and support services) that create an innovation-supportive work environment for the intrapreneurial team. The results of this qualitative study, comprising 12 interviews with ICA teams out of two German high-tech companies, show that the resources provided by ICAs differ from the support activities of external accelerators. Further, the study shows that some resources show both supportive as well as obstructive potential for the intrapreneurial teams within the ICA.
New Technology-Based Firms (NTBFs) learn their business in the early-stages of their life-cycle. As a central element of the entrepreneurial learning process, the business model describes the value-creation functions that are conceptualized in different stages of the NTBF’s life-cycle. Transaction relations connect the model with the business reality and ideally mature in strength over time to a functioning value-network. This chapter describes the development of a research design that determines, extracts, and evaluates semantics constructs of this entrepreneurial learning out of a convenient sample and three cohorts of business plans submitted to a business plan award between 2008 and 2010. The analysis shows empirical evidence for the survival and growth of those NTBFs that exhibit a balanced status of entrepreneurial learning in the maturity of the value-network that can be characterized as early startup-stage. The empirical findings of the network theory based business plan analysis will allow for a better explanation of the performance in the entrepreneurial process that is discussed for NTBFs based on theory of organizational learning.
Beidhändig gestalten
(2018)
Corporate entrepreneurship (CE) is experiencing continuously increasing interest from scholars and practitioners. One reason for this seems to be rooted in the organizational structures of established companies, which are cumbersome for implementing organizational agility and for developing radical innovations. In view of the advancing digitalization, however, exactly this is required in order to be successful in the long-term. CE is a promising managerial tool that offers a wide range of options to pursue the creation of new businesses and to support the companies' transformation in order to adapt to changes in the environment. Even though CE offers a broad range of opportunities, the effective management is a challenge. One reason for this is the ambiguity when it comes to the differences between the various CE forms and the objectives that can be achieved by those. This study, which is based on 13 in-depth interviews from eight high-tech companies, contributes to a better understanding of CE by offering a first harmonized set of CE objectives that is suitable to compare and differentiate across the different forms. In addition to that, three CE types, offering a new perspective on how to differentiate CE forms, are identified and give implications for a more effective management.
Business coaching is believed to effectively improve survival and success chances of new technology-based firms (NTBFs). However, not much empirical evidence on the support measure's effectiveness is available. Therefore, a pragmatic two-armed Randomized Controlled Trial (RCT) to test the effect of tactical business coaching on NTBF survival capabilities was designed and, for the most part, carried out. However, due to a lower than expected sample size and great attrition between groups, the RCT reveals deviations from the trial design that impede a thorough data assessment. Based on the data given, a first data analysis does not reveal significant differences in survival capability between the two groups. Thus, to provide guidance for future RCTs in business contexts, lessons learned about how to deal with trickle samples and experiment constellations with third parties carrying out the intervention are drawn.
Corporate Entrepreneurship (CE) became the new paradigm for organizations to cope with the accelerated development of innovations. Therefore, especially established organizations increasingly implement CE activities, even in combination. Scholars point out that a coordinated portfolio of CE activities could yield synergies and thus higher value for the organization and further call for more scientific examinations. This literature review aims to better the understanding of the combined and coordinated use of CE activities as well as about resulting synergies. Results show that there are only very few studies that addressed a combination and/or coordination of CE activities with respect to the creation of additional value, however, without empirical analyses. Yet, five categories of direct and indirect synergies could be derived. Discussing the results as well as the heterogenous use of terminology and concepts, this paper concludes with a research agenda for future analyses.
Corporate venturing is one way for corporations to
introduce strategic renewal into their business portfolios, which is
imperative for ongoing success in innovation-driven industries.
Prior research finds that corporate ventures should be separated
from the mainstream business in loosely coupled sub-units, but
scholars continue to discuss how loose or tight the ventures should
be to balance exploration and exploitation. Hence, the antecedents
for successful venture management are yet to be fully explored and
our study contributes to this effort. The study shows that
corporate venture success is enhanced when corporate
management grants job and strategic autonomy to the venture
managers. This is further amplified when corporate management
simultaneously imposes an exploitative policy that forces venture
managers to prioritize extensions to and improvements of existing
competences and product-market offerings.
Corporate venturing has gained much attention due
to challenges and changes that occur because of discontinuous
innovations – which seem to be promoted by digitalization. In this
context, open innovation has become a promising tool for
established companies to strengthen their innovation capabilities.
While the external opening of the innovation process has gained
much attention, the internal opening lacks on investigations.
Especially new organizational forms, such as Internal Corporate
Accelerators, have not been investigated sufficiently. This study,
which is based on 13 interviews from two German tech-companies,
contributes to a better understanding of this new form of corporate
venturing and the resulting effects on the organizational renewal.