Customizing the Corporate Venturing Process
In order to describe the venturing process in depth and still be concise, we have concentrated on describing the process for one situation only. Specifically, we described the process for a medium-sized (about 1,000 employees) high-tech (e.g., computers) company following a revolutionary product strategy (specifically a diversified product) that was focusing on product development, supported by an integrated market and production process development.
The corporate venturing process can and should be customized for differences in organization size, product type, and product development strategy. Additionally, developing new services is considerably different from developing new goods, and this subject is discussed in detail.
We will discuss how the venturing process should be customized for two situations on either side of our medium-sized model company. We will first discuss some of the problems that small companies (less than 500 people) often encounter and how they can be solved. Then we will do the same for large (greater than 2,000 people) complex companies.
The hands-on, close, and continuing involvement of the CEO (the intrapreneur) in the venturing process is indicative of the small intrapreneurial firm. To be successful, most small companies are running "lean and mean." A fully