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How to Radically Innovate While Utilizing a Firms’ Capabilities: Practical Aspects of Corporate Entrepreneurship

In: Creating Innovation Spaces

Author

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  • Christof Siebert

    (TRUMPF GmbH + Co. KG)

Abstract

Corporate entrepreneurship and internal corporate venturing are considered to show a way out of incumbent corporates’ inability to innovate in unknown markets, using unknown technology or applying new business models. By implementing internal corporate venturing programs innovation spaces can be created in which employees can pursue their business ideas independently from restrictions of the corporate’s core businesses while utilizing the company’s core competencies. While the reasoning is well understood the practical implementation is difficult: processes, corporate governance, funding mechanisms and the impact on the company’s core businesses amongst others have to be considered. This chapter provides insights into the practical aspects of internal corporate venturing.

Suggested Citation

  • Christof Siebert, 2021. "How to Radically Innovate While Utilizing a Firms’ Capabilities: Practical Aspects of Corporate Entrepreneurship," Management for Professionals, in: Volker Nestle & Patrick Glauner & Philipp Plugmann (ed.), Creating Innovation Spaces, chapter 9, pages 119-131, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-57642-4_9
    DOI: 10.1007/978-3-030-57642-4_9
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