This thesis explores the decision making processes behind Corporate Venturing (CV) strategies, focusing on Corporate Venture Capital (CVC) and Venture Building (VB) as pathways for corporate innovation and growth. CV is a key strategy within the broader Open Innovation (OI) landscape, which emphasises the use of both internal and external ideas to accelerate innovation. While the importance of CV is well- documented, the comparison between CVC and VB remains underexplored, particularly regarding how companies choose between the two approaches. This research addresses that gap by identifying the key drivers companies use to determine the optimal approach based on strategic goals and internal resources. Through a multi- case study of 14 Italian companies, seven critical drivers were identified that influence the choice between CVC and VB. The study further distinguishes between Corporate Venture Building (CVB) and Advisory models. The findings show that CVC offers access to external innovations with lower resource commitments, while VB provides a more integrated approach but demands greater internal resources and long-term investments. The results are synthesised into a Decisional Framework, guiding managers in selecting the most suitable Corporate Venturing strategy based on company characteristics and objectives. This framework contributes to the literature by addressing gaps in strategy selection and provides practical insights for companies navigating the complex landscape of innovation management. By analysing both CVC and VB models, this thesis offers tools for fostering innovation and maintaining a competitive advantage in rapidly evolving markets.
Questa tesi esplora i processi decisionali alla base delle strategie di Corporate Venturing (CV), concentrandosi su Corporate Venture Capital (CVC) e Venture Building (VB) come percorsi per l'innovazione e la crescita aziendale. Il CV è una strategia chiave all'interno del più ampio panorama dell'Open Innovation (OI), che enfatizza l'uso di idee sia interne che esterne per accelerare l'innovazione. Sebbene l'importanza del CV sia ben documentata, il confronto tra CVC e VB rimane poco esplorato, in particolare per quanto riguarda il modo in cui le aziende scelgono tra i due modelli. Questa ricerca colma tale lacuna identificando i fattori chiave che le aziende utilizzano per determinare l'approccio ottimale in base agli obiettivi strategici e alle risorse interne. Attraverso uno studio multi-caso che coinvolge diverse aziende italiane, sono stati individuati sette fattori critici che influenzano la scelta tra CVC e VB. Lo studio distingue inoltre tra Corporate Venture Building (CVB) e modelli Advisory. I risultati mostrano che il CVC offre accesso a innovazioni esterne con un impegno di risorse minore, mentre il VB fornisce un approccio più integrato ma richiede maggiori risorse interne e investimenti a lungo termine. I risultati sono sintetizzati in un Framework Decisionale, che guida i manager nella selezione della strategia di Corporate Venturing più adatta in base alle caratteristiche e agli obiettivi aziendali. Questo Framework contribuisce alla letteratura colmando le lacune nella selezione delle strategie e offre spunti pratici per le aziende che devono affrontare il complesso panorama della gestione dell'innovazione. Analizzando sia i modelli CVC che VB, questa tesi offre strumenti per favorire l'innovazione e mantenere un vantaggio competitivo in mercati in rapida evoluzione.
Navigating Corporate Innovation: A Comparative Analysis of Corporate Venture Capital and Venture Building in the Open Innovation Paradigm
Gaudio, Filippo;GALLI, ALESSANDRO
2023/2024
Abstract
This thesis explores the decision making processes behind Corporate Venturing (CV) strategies, focusing on Corporate Venture Capital (CVC) and Venture Building (VB) as pathways for corporate innovation and growth. CV is a key strategy within the broader Open Innovation (OI) landscape, which emphasises the use of both internal and external ideas to accelerate innovation. While the importance of CV is well- documented, the comparison between CVC and VB remains underexplored, particularly regarding how companies choose between the two approaches. This research addresses that gap by identifying the key drivers companies use to determine the optimal approach based on strategic goals and internal resources. Through a multi- case study of 14 Italian companies, seven critical drivers were identified that influence the choice between CVC and VB. The study further distinguishes between Corporate Venture Building (CVB) and Advisory models. The findings show that CVC offers access to external innovations with lower resource commitments, while VB provides a more integrated approach but demands greater internal resources and long-term investments. The results are synthesised into a Decisional Framework, guiding managers in selecting the most suitable Corporate Venturing strategy based on company characteristics and objectives. This framework contributes to the literature by addressing gaps in strategy selection and provides practical insights for companies navigating the complex landscape of innovation management. By analysing both CVC and VB models, this thesis offers tools for fostering innovation and maintaining a competitive advantage in rapidly evolving markets.File | Dimensione | Formato | |
---|---|---|---|
2024_10_Gaudio_Galli_02.pdf
accessibile in internet solo dagli utenti autorizzati
Descrizione: executive summary
Dimensione
814.7 kB
Formato
Adobe PDF
|
814.7 kB | Adobe PDF | Visualizza/Apri |
2024_10_Gaudio_Galli_01.pdf
accessibile in internet per tutti
Descrizione: testo tesi
Dimensione
2.22 MB
Formato
Adobe PDF
|
2.22 MB | Adobe PDF | Visualizza/Apri |
I documenti in POLITesi sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
https://hdl.handle.net/10589/227610