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The Complicating Factor of Life Cycles in Corporate Venturing

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  • Frank Hoy

Abstract

Does family matter in corporate venturing? Converting the question, can a family firm survive without corporate venturing? Life cycle theory contends that it is normal for an organization to form, grow, mature, decline, and die. Long–term survival, especially through multiple generations, would require renewal through innovation to avoid decay and death. Strategic corporate venturing may be the answer for many family firms. To innovate and prosper, a family enterprise must contend with multiple life cycles, rarely synchronized, any one of which may be in a decline stage at any point in time. This commentary examines how life cycles complicate the ability of families to plan strategically for corporate entrepreneurship.

Suggested Citation

  • Frank Hoy, 2006. "The Complicating Factor of Life Cycles in Corporate Venturing," Entrepreneurship Theory and Practice, , vol. 30(6), pages 831-836, November.
    • Handle: RePEc:sae:entthe:v:30:y:2006:i:6:p:831-836
    DOI: 10.1111/j.1540-6520.2006.00154.x
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    References listed on IDEAS

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    1. Franz W. Kellermanns & Kimberly A. Eddleston, 2006. "Corporate Entrepreneurship in Family Firms: A Family Perspective," Entrepreneurship Theory and Practice, , vol. 30(6), pages 809-830, November.
    2. Pratima Bansal, 2005. "Evolving sustainably: a longitudinal study of corporate sustainable development," Strategic Management Journal, Wiley Blackwell, vol. 26(3), pages 197-218, March.
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    Cited by:

    1. Franz Kellermanns & Kimberly Eddleston & Ravi Sarathy & Fran Murphy, 2012. "Innovativeness in family firms: a family influence perspective," Small Business Economics, Springer, vol. 38(1), pages 85-101, January.
    2. David Urbano & Andreu Turro & Mike Wright & Shaker Zahra, 2022. "Corporate entrepreneurship: a systematic literature review and future research agenda," Small Business Economics, Springer, vol. 59(4), pages 1541-1565, December.
    3. Conrad Wiedeler & Nadine Kammerlander, 2021. "Learning the ropes of entrepreneurship: understanding internal corporate venturing for family firms from an entrepreneurial learning perspective," Review of Managerial Science, Springer, vol. 15(3), pages 669-703, April.
    4. James J. Chrisman & Lloyd P. Steier & Jess H. Chua, 2006. "Personalism, Particularism, and the Competitive Behaviors and Advantages of Family Firms: An Introduction," Entrepreneurship Theory and Practice, , vol. 30(6), pages 719-729, November.
    5. Maheshkumar P. Joshi & Ravi Kathuria & Sidhartha Das, 2019. "Corporate Entrepreneurship in the Digital Era: The Cascading Effect through Operations," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 28(1), pages 4-34, March.
    6. Pramodita Sharma & James J. Chrisman & Jess H. Chua & Lloyd P. Steier, 2020. "Family Firm Behavior From a Psychological Perspective," Entrepreneurship Theory and Practice, , vol. 44(1), pages 3-19, January.
    7. Cristina Cruz & Mattias Nordqvist, 2012. "Entrepreneurial orientation in family firms: a generational perspective," Small Business Economics, Springer, vol. 38(1), pages 33-49, January.
    8. Francisco-Javier Canto-Cuevas & María-José Palacín-Sánchez & Filippo Di Pietro, 2019. "Trade Credit as a Sustainable Resource during an SME’s Life Cycle," Sustainability, MDPI, vol. 11(3), pages 1-16, January.
    9. Paul J. Woodfield & Kenneth Husted, 2019. "How Does Knowledge Sharing Across Generations Impact Innovation?," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(08), pages 1-17, December.
    10. Johanna Raitis & Innan Sasaki & Josip Kotlar, 2021. "System‐Spanning Values Work and Entrepreneurial Growth in Family Firms," Journal of Management Studies, Wiley Blackwell, vol. 58(1), pages 104-134, January.
    11. Julio Diéguez-Soto & María J. Martínez-Romero, 2019. "Family Involvement in Management and Product Innovation: The Mediating Role of R&D Strategies," Sustainability, MDPI, vol. 11(7), pages 1-24, April.
    12. Wright, Mike & Kellermanns, Franz W., 2011. "Family firms: A research agenda and publication guide," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 187-198.
    13. Thomas Zellweger & Philipp Sieger, 2012. "Entrepreneurial orientation in long-lived family firms," Small Business Economics, Springer, vol. 38(1), pages 67-84, January.
    14. Izabella Steinerowska-Streb & Grzegorz Głód, 2020. "Innovations in Polish family firms. Exploring employee creativity and management practices that stimulate innovative thinking," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 16(2), pages 231-260.
    15. Aldrich, Howard E. & Brumana, Mara & Campopiano, Giovanna & Minola, Tommaso, 2021. "Embedded but not asleep: Entrepreneurship and family business research in the 21st century," Journal of Family Business Strategy, Elsevier, vol. 12(1).
    16. Keasey, Kevin & Martinez, Beatriz & Pindado, Julio, 2015. "Young family firms: Financing decisions and the willingness to dilute control," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 47-63.
    17. Shankar, Raj K. & Shepherd, Dean A., 2019. "Accelerating strategic fit or venture emergence: Different paths adopted by corporate accelerators," Journal of Business Venturing, Elsevier, vol. 34(5), pages 1-1.
    18. Deryck J Van Rensburg, 2015. "The Promise of Corporate Entrepreneurship: A Review of Data Analytic Strategies," Business and Management Research, Business and Management Research, Sciedu Press, vol. 4(1), pages 59-73, March.
    19. Moyassar Al-Taie & Aileen Cater-Steel, 2020. "The Organisational Life Cycle Scale: An Empirical Validation," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 29(2), pages 293-325, September.
    20. Alexandre Pavan Torres & Emílio Araujo Menezes & Fernando A. Ribeiro Serra & Manuel Portugal Ferreira, 2010. "The Decline of Large Brazilian Companies," Working Papers 57, globADVANTAGE, Polytechnic Institute of Leiria.
    21. Roland Kidwell & Franz Kellermanns & Kimberly Eddleston, 2012. "Harmony, Justice, Confusion, and Conflict in Family Firms: Implications for Ethical Climate and the “Fredo Effect”," Journal of Business Ethics, Springer, vol. 106(4), pages 503-517, April.
    22. Pittino, Daniel & Visintin, Francesca & Lauto, Giancarlo, 2017. "A configurational analysis of the antecedents of entrepreneurial orientation," European Management Journal, Elsevier, vol. 35(2), pages 224-237.
    23. Chitra Singla & Ludvig Levasseur, 2023. "The role of family in unfolding the process of external corporate venturing in small family businesses," Small Business Economics, Springer, vol. 61(1), pages 105-126, June.

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