The impact of corporate venturing on firms’ innovation and organisational learning : A study of large manufacturing firms in Thailand

Na Nakorn, Thitiporn and Dada, Lola and Thanos, Ioannis (2021) The impact of corporate venturing on firms’ innovation and organisational learning : A study of large manufacturing firms in Thailand. PhD thesis, Lancaster University.

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Abstract

Research on corporate entrepreneurship suggests that corporate venturing is the most influential determinant to facilitate entrepreneurial performance among established corporations. Particularly, corporate venturing’s strategic use has been viewed as a crucial tool in achieving sustained competitive advantage through the acquisition of innovation and organisational learning. However, understanding the influences of a firm’s external and internal business environments on strategic corporate venturing (SCV) is still limited. This study addresses this issue by investigating the effects of three environmental and organisational mechanisms (i.e., market turbulence, cross-functional interfaces, and shared-organisational vision) on the relationship between SCV and firms’ product innovation and knowledge acquisition. The research incorporated resource-based and knowledge-based views of firms to explain the adoption of innovation and organisational learning for sustained competitive advantage. This study's sample is composed of two primary groups of key respondents: general managers and CEOs, from 190 large manufacturing firms in Thailand. The findings indicate that the use of SCV positively affects product innovation. Additionally, the results reveal that shared-organisational vision has a positive moderating effect on this observed relationship. Further, the study indicates that cross-functional interfaces have a negative moderating effect on the use of SCV in acquiring new knowledge. Overall, this study's findings enrich the limited understanding of the potential impacts of market turbulence, cross-functional interfaces, and shared-organisational vision to enhance product innovation and knowledge acquisition when the firm conducts SCV. It also introduces a four-item scale to statistically measure SCV and provides evidence to the policy makers that they can use SCV to enhance their entrepreneurial performance.