Corporations need to promote new business development for their own growth and continued existence. New business development must be conducted with a greater sense of speed than ever if it is to succeed, particularly in today's business environment, where the globalization of the market and the widespread adoption of information technologies are accelerating the speed with which business is conducted and at which it changes.
Many researchers point to corporate venturing (also referred to as “ internal corporate venturing”) as a useful means of sustaining corporate existence by promoting new business development with the aim of achieving corporate growth. When classified by investment styles, corporate venturing can be divided into investments in internal corporate venturing and investments in external corporate venturing.
When it comes to factors that determine the success of corporate venturing, while some commentators have pointed to the importance of corporate venturing organizations and the promoters who administer such organizations, little mention has been given to the roles and attributes of such promoters after describing corporate venturing organizations.
In this paper, we describe corporate venturing by type based on previous work and create an objective image of the promoters of such enterprises for each type of corporate venturing described. Next, by verifying the promoter image of corporate venturing associated with each of the aforementioned descriptions through case studies of specific corporations, we elaborate requirements related to the roles and attributes of managerial personnel, which are important factors behind the success of corporate venturing. As specific examples, we examine Fujitsu and Panasonic, two corporations that have an internal corporate venturing system, based on previous work and interviews.
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