Innovation and entrepreneurship are crucial for surviving and prospering in today's turbulent business climate. A potentially significant way to revitalize established firms is through internal corporate venturing: high-risk activities that generate new businesses and sharpen a company's competitive edge. But, once new opportunities are found, how can they be managed to ensure success? Block and MacMillan recognize that an innovative culture cannot be transplanted, but must evolve within each company. Recognizing that traditional management principles are often at odds with innovation, they address the problems of corporations whose policies and procedures discourage entrepreneurial effort. They show managers at all levels how to develop the skills and practices essential to internal venturing success. Only by integrating these skills and practices can a company make the changes necessary to produce ongoing product and market innovations with resulting new businesses. When managed right, corporate venturing can be the key to new growth and revitalization for established companies regardless of size.
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About the Author
Ian C. MacMillan is the Fred Sullivan Professor of Entrepreneurial Management at the University of Pennsylvania's Wharton School.
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Most Helpful Customer Reviews
6 of 7 people found the following review helpful:
4.0 out of 5 stars
An academic overview in the best sense of the word,
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This review is from: Corporate Venturing (Paperback)
I found the book useful when I set up a new profit center and business within a small construction management company. Most important for me is that it helped me understand some of the political dynamics I would be encountering in dealing with the parent: at startup and, in my situation, as a consumer of parent company services.The book is academic in the best sense of the word: it presents the big issues and context. It's basically a model of the factors and forces involved. It is not a cookbook or a how to and is short on anecdotal experience. Nevertheless, the contents cover all the key dimensions: Getting Started, Framing and Managing the Venture Process, Identifying, Evaluating, and Selecting Opportunity; Selecting, Evaluating, and Compensating Venture Management; Locating the Venture in the Organization; Developing the Business Plan; Organizing the Venture; Controlling the Venture; A Survival Guide for Venture Managers; The Internal Politics of Venturing; Learning from Experience.
3 of 3 people found the following review helpful:
4.0 out of 5 stars
Great guide if you want to do corporate venturing.,
By A Customer
This review is from: Corporate Venturing (Paperback)
Very practical book on elements of corporate venturing - that is, generating ventures and nurturing them within a firm. Not one of those silly business-popular psych books. These guys don't care if giants can dance or not.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
Academic, but real world implications,
By A Customer
Amazon Verified Purchase(What's this?)
This review is from: Corporate Venturing (Paperback)
While the book is written by academics, it is dead on when addressing the primary reasons corporate venturing units succeed or fail. It may not tell you the detailed mechanics of starting such a unit, but the information inside is far more valuable than a paint-by-numbers. Balancing the needs of a venturing unit vs. the gravitational pull of the core business is key - and this book will tell you what works and what doesn't. If you're looking for info on how to write a business plan, how to evaluate an opportunity, etc., this isn't the book for you.
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Inside This Book
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First Sentence:
Every ten years or so there is a surge of interest in internally generated new businesses-i.e, corporate ventures. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
venturing divisions, venture selection criteria, corporate venture capital activity, venture advisory board, venturing function, technology relatedness, venture capital function, corporate venture capitalists, corporate venture capital activities, venturing effort, corporate venture managers, major learning challenges, venturing performance, venturing obstacles, venturing experience, venturing activity, venturing process, product relatedness, venturing strategy, venturing program, venture champion, venture capital managers, unsuccessful divisions, passive intrusions, venturing success Key Phrases - Capitalized Phrases (CAPs): (learn more)
New York, Harvard Business Review, Journal of Business Venturing, Federal Express, Stern School of Business, Sloan Management Review, The Wall Street Journal, Industrial Marketing Management, Ann Arbor, Babson College, Compensating Corporate Venture Managers, Dow Jones-Irwin, Free Press, Frontiers of Entrepreneurship Research, Journal of Business Strategy, Organizations Grow, Paul Cook, Research Press New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Every ten years or so there is a surge of interest in internally generated new businesses-i.e, corporate ventures. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
venturing divisions, venture selection criteria, corporate venture capital activity, venture advisory board, venturing function, technology relatedness, venture capital function, corporate venture capitalists, corporate venture capital activities, venturing effort, corporate venture managers, major learning challenges, venturing performance, venturing obstacles, venturing experience, venturing activity, venturing process, product relatedness, venturing strategy, venturing program, venture champion, venture capital managers, unsuccessful divisions, passive intrusions, venturing success Key Phrases - Capitalized Phrases (CAPs): (learn more)
New York, Harvard Business Review, Journal of Business Venturing, Federal Express, Stern School of Business, Sloan Management Review, The Wall Street Journal, Industrial Marketing Management, Ann Arbor, Babson College, Compensating Corporate Venture Managers, Dow Jones-Irwin, Free Press, Frontiers of Entrepreneurship Research, Journal of Business Strategy, Organizations Grow, Paul Cook, Research Press New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 29
books:
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18
books
cite this book:
See all 18 books citing this book
- Inside Corporate Innovation by Robert A. Burgelman on page 144, page 193, and page 307
- Change Masters by Rosabeth Moss Kanter in Front Matter, page 67, and page 307
- Innovation and Entrepreneurship by Peter F. Drucker in Front Matter, page 112, and page 145
- When Giants Learn To Dance by Rosabeth Moss Kanter in Front Matter, page 67, and page 145
- In Search of Excellence: Lessons from America's Best-Run Companies (Collins Business Essentials) by Thomas J. Peters in Front Matter, and page 67
See all 29 books this book cites
- Marketbusters: 40 Strategic Moves That Drive Exceptional Business Growth by Rita Gunther McGrath in Back Matter (1), Back Matter (2), and Back Matter (3)
- Knowledge Assets: Securing Competitive Advantage in the Information Economy by Max H. Boisot on page 145, and Back Matter
- Radical Innovation: How Mature Companies Can Outsmart Upstarts by Richard Leifer in Back Matter (1), and Back Matter (2)
- Marketing and Entrepreneurship: Research Ideas and Opportunities by Gerald E. Hills in Back Matter (1), and Back Matter (2)
- Rejuvenating the Mature Business: The Competitive Challenge by Charles Baden-Fuller on page 146, and Back Matter
See all 18 books citing this book
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