Summary

This chapter focused on understanding and managing the corporate venturing process. Attention was paid to the four aspects of the corporate entrepreneurial process—identifying and evaluating the opportunity, developing a business plan, determining the resources required, and starting and managing the venture. This corporate entrepreneurial process needs to be modified for specific corporate cultures in order to facilitate corporate entrepreneurship. The differences between managerial and corporate entrepreneurial decision making were discussed in terms of five business decisions—strategic orientation, commitment to opportunity, commitment to resources, control of resources, and management structure. Following a discussion about the reasons....