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Exploring the Practice of Corporate Venturing: Some Common Forms and Their Organizational Implications

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  • Morgan P. Miles
  • Jeffrey G. Covin

Abstract

This study explores the domain of corporate venturing using a theoretically grounded classification typology as an organizing scheme. The typology is applied in a field study of corporations that are active In venturing and based in the United Kingdom or the United States. Corporate venturing is classified into four generic forms by the focus of entrepreneurship and the presence of investment intermediation: (1) direct-internal venturing; (2) direct-external venturing; (3) indirect-internal venturing; and (4) indirect-external venturing. A managerial decision framework is offered to assist corporate executives in selecting potentially appropriate forms of corporate venturing, given specific venturing objectives and corporate circumstances.

Suggested Citation

  • 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.
    • Handle: RePEc:sae:entthe:v:26:y:2002:i:3:p:21-40
    DOI: 10.1177/104225870202600302
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