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Susan A. Hill and Stylianos Georgoulas

Hill and Georgoulas present a thorough analysis and review of the vast literature on internal corporate venturing (ICV). The review underscores the diversity of research foci and approaches, which would account for the varying interpretations and findings reported in the literature. Their analysis spans the 1960–2009 period, providing a rare glimpse into the evolution of theory and empirical research in this core area of CE. The discussion covers the forms of ICV; how it differs from other modes of venturing; its role in the parent firm’s strategy and organization; how the parent’s strategy influences the use of and results from ICV; how a firm’s organizational context may influence ICV outcomes; and the various ICV processes firms undertake. The authors take great care to identify several organizational variables that influence ICV outcomes, particularly autonomy, top management support, corporate evaluation systems, reward systems and human capital. Likewise, the authors highlight the temporal dimension of ICV operations. Readers should gain much from considering the trends uncovered in this vast review of the literature that covers different levels of analyses and modes of organizing ICV. The analyses reported also show some interesting changes in the research focus, reflecting changes in corporate practices. The authors also identify important future research questions. Their discussion reinforces the centrality of ICV as a core research issue, the multiplicity of issues examined within this body of research, the progress made to date and the challenges awaiting future research.

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Shaker A. Zahra, Donald O. Neubaum and James C. Hayton

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Edited by Michael H. Morris and Eric Liguori

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Young Rok Choi and Dean A. Shepherd

Opportunity exploitation is a necessary step in creating a successful business in the entrepreneurial process, yet there has been little conceptual and empirical development of this issue in the literature. This study examines the decisions of entrepreneurs to begin exploiting business opportunities from a resource-based view. Our analysis of a sample of entrepreneurs whose businesses are located in incubators suggests that entrepreneurs are more likely to exploit opportunities when they perceive more knowledge of customer demand for the new product, more fully developed necessary technologies, greater managerial capability, and greater stakeholder support. Moreover, the findings of this study shed a light on a less emphasized aspect of the resource-based view: the new product’s anticipated lead time acts as an enhancing moderator in entrepreneurs’ exploitation decision policies. Implications for future research on opportunity exploitation are discussed.
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Dean A. Shepherd

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Ulla Hytti, Robert Blackburn, Denise Fletcher and Friederike Welter

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Cristina Díaz-García, Candida G. Brush, Elizabeth J. Gatewood and Friederike Welter

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Edited by Ulla Hytti, Robert Blackburn, Denise Fletcher and Friederike Welter

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Michael H. Morris and Eric Liguori

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Jerome S. Engel, Minet Schindehutte, Heidi M. Neck, Ray Smilor and Bill Rossi

In this opening chapter five highly experienced educators share insights that have been gleaned from teaching entrepreneurship for, collectively, over 60 years. Their experiences include undergraduate and graduate teaching, curricular and co-curricular development, and working with students in institutions that are private and public, small and large, and both research- and teaching-focused. They describe different teaching philosophies, styles, principles and techniques.