Open Access

Nowadays, there is a continuous need for many corporations to renew their business portfolio strategically in anticipation of changes in the business environment (e.g., technological change). The ongoing booming of founding international start-ups suggests that small entrepreneurial teams are an effective means to develop new businesses. Corporations should be able to benefit from this form of self-organized innovation when entering novel business domains for strategic renewal. However, corporations that establish small entrepreneurial teams (corporate ventures) are facing two obstacles. First, corporate ventures often fail for reasons that are not well explored. Second, it remains unclear how the partial successes may be improved to large successes. Although the key success factors remain ambiguous, there is little hope that corporate ventures will be successful without effective management. Since an empirical model for corporate venture management does not exists so far, the thesis formulates and answers the following problem statement: How can corporate management effectively manage corporate ventures? Building on qualitative and quantitative research methodologies, a model for effective corporate venture management is developed and tested statistically in the German IT consulting industry. The research results reveal some of the essential management principles through which corporate management can increase corporate venture success systematically.