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Managing Your Core Incompetencies for Corporate Venturing

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  • Deborah Dougherty

Abstract

Internal ventures and a firm's core competencies are mutually constitutive, since each both contributes to and builds on the other. This field study compared successful and failed new product ventures In four large firms, to learn how competencies and ventures relate. The link between ventures and competencies was important to success. It was also difficult to achieve, because a scaffolding of reified rules, called core incompetencies, had grown around the competencies to dominate thought and action. Some ways to break out of the core incompetencies are developed from the successful efforts, and summarized in the discussion.

Suggested Citation

  • Deborah Dougherty, 1995. "Managing Your Core Incompetencies for Corporate Venturing," Entrepreneurship Theory and Practice, , vol. 19(3), pages 113-135, April.
    • Handle: RePEc:sae:entthe:v:19:y:1995:i:3:p:113-135
    DOI: 10.1177/104225879501900308
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    Cited by:

    1. Morgan P. Miles & Jeffrey G. Covin, 2002. "Exploring the Practice of Corporate Venturing: Some Common Forms and Their Organizational Implications," Entrepreneurship Theory and Practice, , vol. 26(3), pages 21-40, April.
    2. Andrew Hargadon & Angelo Fanelli, 2002. "Action and Possibility: Reconciling Dual Perspectives of Knowledge in Organizations," Organization Science, INFORMS, vol. 13(3), pages 290-302, June.
    3. Da Mota de Pina E Cunha, A.M., 1998. "Determinants of Product Innovation in Organizations : Practices and Performance in the Portugese Financial Sector," Other publications TiSEM e6e4e56e-b72a-4392-8d79-f, Tilburg University, School of Economics and Management.
    4. Robert P. Garrett Jr. & Jeffrey G. Covin, 2015. "Internal Corporate Venture Operations Independence and Performance: A Knowledge–Based Perspective," Entrepreneurship Theory and Practice, , vol. 39(4), pages 763-790, July.
    5. Covin, Jeffrey G. & Garrett, Robert P. & Kuratko, Donald F. & Shepherd, Dean A., 2015. "Value proposition evolution and the performance of internal corporate ventures," Journal of Business Venturing, Elsevier, vol. 30(5), pages 749-774.
    6. Georg Schreyögg & Martina Kliesch, 2006. "Zur Dynamisierung Organisational Kompetenzen — „Dynamic Capabilities“als Lösungsansatz?," Schmalenbach Journal of Business Research, Springer, vol. 58(4), pages 455-476, June.
    7. Mezias, Stephen J. & Kuperman, Jerome C., 2001. "The community dynamics of entrepreneurship: The birth of the american film industry, 1895-1929," Journal of Business Venturing, Elsevier, vol. 16(3), pages 209-233, May.
    8. Wang Z. Min & Kwek C. Ling & Tan H. Piew, 2016. "The Effects of Technological Innovation, Organizational Innovation and Absorptive Capacity on Product Innovation: A Structural Equation Modeling Approach," Asian Social Science, Canadian Center of Science and Education, vol. 12(1), pages 199-222, January.
    9. Thomas Keil & Rita Gunther McGrath & Taina Tukiainen, 2009. "Gems from the Ashes: Capability Creation and Transformation in Internal Corporate Venturing," Organization Science, INFORMS, vol. 20(3), pages 601-620, June.
    10. Shaker A. Zahra & Daniel F. Jennings & Donald F. Kuratko, 1999. "The Antecedents and Consequences of Firm-Level Entrepreneurship: The State of the Field," Entrepreneurship Theory and Practice, , vol. 24(2), pages 45-65, December.
    11. Martin Wielemaker & Eric Gedajlovic, 2011. "Governance and capabilities: Asia’s entrepreneurial performance and stock of venture forms," Asia Pacific Journal of Management, Springer, vol. 28(1), pages 157-185, March.
    12. Patricia G. Greene & Candida G. Brush & Myra M. Hart, 1999. "The Corporate Venture Champion: A Resource-Based Approach to Role and Process," Entrepreneurship Theory and Practice, , vol. 23(3), pages 103-122, April.
    13. Thornhill, Stewart & Amit, Raphael, 2001. "A dynamic perspective of internal fit in corporate venturing," Journal of Business Venturing, Elsevier, vol. 16(1), pages 25-50, January.
    14. Georg Schreyögg, 2014. "Pfadabhängigkeit und Pfadbruch in Unternehmen," Schmalenbach Journal of Business Research, Springer, vol. 66(68), pages 1-17, January.
    15. Jean-Etienne de Bettignies & Gilles Chemla, 2008. "Corporate Venturing, Allocation of Talent, and Competition for Star Managers," Management Science, INFORMS, vol. 54(3), pages 505-521, March.
    16. Lee, Simon U. & Park, Gunno & Kang, Jina, 2018. "The double-edged effects of the corporate venture capital unit's structural autonomy on corporate investors' explorative and exploitative innovation," Journal of Business Research, Elsevier, vol. 88(C), pages 141-149.
    17. Masucci, Monica & Parker, Simon C. & Brusoni, Stefano & Camerani, Roberto, 2021. "How are corporate ventures evaluated and selected?," Technovation, Elsevier, vol. 99(C).

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