Download The Impact of Corporate Venture Capital: Potentials of by Timo B. Poser PDF

By Timo B. Poser

During the enterprise capital growth, using company enterprise Capital (CVC) reached extraordinary degrees, however it has been taking place speedy recently.

Timo B. Poser discusses the query if company enterprise Capital has the aptitude to create an enduring influence at the making an investment company's good fortune. according to the resource-based view of aggressive virtue, he develops a conceptual CVC-Impact-Model and exams its applicability in 4 case reviews. the writer exhibits that company enterprise Capital bargains a extensive set of benefits, yet has a constrained impression on sustainable aggressive good thing about the making an investment firm.

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Extra resources for The Impact of Corporate Venture Capital: Potentials of Competitive Advantages for the Investing Company

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Resources that are possessed by a large number of firms cannot be a source of competitive advantage since all firms can copy strategies that build on such valuable resources. Implementing a common strategy, however, does not create a competitive advantage for any firm. It is not easy to determine how rare a valuable resource needs to be to create competitive advantage. If a single firm has a valuable resource or bundle of resources it may be able to generate competitive advantage. When several firms in an industry own a valuable and rare resource it can still be a source of competitive advantage as long as the number of firms is less than the number needed to generate perfect competition dynarnics in an industry.

Table 2-5: Attributes of Venture Capital Attributes of investments ·· VC investments are equity investments. VC investments have a long-term but limited-time focus. Attributes of investment target ·· VC is invested in privately held companies. VC is invested in high-growth companies. VC is invested in start-up companies for the launch, early development or expansion of a business. Role of venture capitalists · ·· Venture capitalists provide active support. Venture capitalists exercise significant control.

67 The four different attributes of sustainable competitive advantage that Barney describes may be separated into two different sets of attributes. When a resource is valuable and rare it may be a source of a competitive advantage. 68 66 Pearson, Brockhoff and Boehmer (I 993: 256) differentiate between different reasons for tacit knowledge/sticky information: people are unable to transfer, people are unwiIling to transfer, people do not perceive it worthwhile transferring. 67 See Barney (1991: 111-112) for a more detailed discussion of the examples, 68 A similar differentiation of attributes of competitive advantage and attributes of sustainability is proposed by Bamberger and Wrona (I 996).

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