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Presents a detailed overview of the challenges of creating new ventures within established corporations, and offers success strategies for overcoming these challenges. The author outlines her experience from more than 25 years of consulting to new ventures, independent of and within corporate structures, including many within Fortune 500 companies. Several case studies of successful and unsuccessful ventures are described, including successful ventures that were later closed down by the corporation. Tamer offers explanations for the outcome of each venture. Findings include strategies to ensure the success of a new venture within a corporation: defining capital strategies (including start‐up and exit strategies that create profitable new divisions, and/or create spin‐off companies that bring a return on investment to the corporation); aligning the new venture with corporate goals; maintaining corporate commitment to the new venture; engaging outside experts; and creating strategic alliances inside and outside of the corporation. The strategies presented will help corporations build successful in‐house ventures which can extend the corporation’s market reach, leverage existing assets for increased profitability, or create new companies with a high return on investment. Top management, corporate strategic planners, and heads of newly‐formed divisions will find a blueprint for avoiding classic errors, anticipating obstacles to success, and applying strategies that create profitable new corporate ventures.

The purpose of this research is to reveal how to improve the quality of entrepreneurship by exploring the key factor, opportunity development, impacting the innovation strategy of new ventures. It also introduces political and business ties as moderating variables to reveal the uniqueness of entrepreneurial activities in the Chinese context.

Empirical data from 215 entrepreneurs and top executives in Chinese new ventures were gathered through a survey and the statistical method used is the regression model.

The empirical results indicate that: (1) new ventures' opportunity creation positively impacts innovation strategy, while opportunity discovery has a curvilinear (inverted U-shape) impact on innovation strategy; (2) the relationship between opportunity development and innovation strategy is moderated by political and business ties.

This research analyzes and compares the effect of opportunity discovery and opportunity creation on new ventures' innovation strategy. This research further offers an in-depth understanding of the influence mechanism between opportunity development and innovation strategy among Chinese new ventures. Further, the results provide practical guidance for new ventures to develop innovation strategies and for Chinese governments to make entrepreneurial policies.

The purpose of this paper is to explore both the strategy types and strategic growth trajectories of new ventures and examine the relationship between these trajectories and new venture performance.

The paper uses evidence from six case studies of Greek high technology new ventures over a lengthy time frame. The longitudinal research design of the study allowed for the complexities of the growth phenomenon to be captured in an effective and efficient manner.

Based on an integrative three‐dimensional framework of new venture strategies, four strategy types are identified. At a static level, evidence suggests that the more strategic dimensions are emphasised in a venture strategy, the more balanced the venture's strategic position and thus, the higher its performance. With respect to the venture's dynamic trajectories, among all possible alternatives, it was found that two are the most successful. The first secures growth through focusing first on a specific innovative product/service in the domestic market and then expanding in the global market. The second secures growth through focusing first on a specific innovative product/service in the global market and then expanding the venture product scope.

The findings imply that the product and geographic dimensions of new venture strategies are the main performance differentiators, while the innovativeness dimension is a sine qua non of new ventures growth and performance. Implications for theory, business practice and policy making are discussed.

The paper contributes to knowledge in the area of new venture growth by developing a strategic typology in a catching‐up economy, where little research can be found.

The purpose of this paper is to investigate how early internationalization and the use of generic strategies by new ventures affect the performance and internationalization efforts of those ventures as they move beyond the period of initiation.

A total of 37 venture capital backed new ventures within the USA were studied from 1991 to 1999. Annual 10‐K filings were used as sources for financial and management data about the new ventures. Industry data were collected from Dunn's Industry Ratios.

Results suggest that ventures which internationalize early are more likely to continue internationalizing at a higher rate as they mature. Early internationalization did not affect sales growth or financial performance of new ventures in the period after initiation. In addition, generic strategies of these ventures affected internationalization and financial performance differently.

The importance of venture strategy and prior internationalization effort should be considered when investigating the internationalization patterns and outcomes of new ventures. The small size of the sample and the focus on a limited number of variables limit the generalizability of this study.

New venture managers should consider the role of generic strategy and prior internationalization efforts when planning future internationalization.

This research provides an initial understanding of what happens to new ventures as they begin to mature and in particular, the effects of early generic strategy and internationalization on later venture performance are identified.

Innovation strategy is critical for firms to achieve success in the market. However, relatively little is known about what factors promote the development of innovation strategy in high-tech new ventures. The purpose of this paper is to address this gap by developing and examining the theoretical model that links effectuation to innovation strategy through opportunity shaping in high-tech new ventures.

The proposed theoretical model is developed by integrating the effectuation theory, innovation strategy literature and opportunity literature. Empirical data were collected from 212 entrepreneurs and top executives in Chinese high-tech new ventures through a survey. Baron and Kenny’s (1986) mediation and moderation model assessment procedures are used to analyze the data.

The empirical results indicate that effectuation has a positive effect on innovation strategy and opportunity shaping. Opportunity shaping has a positive effect on innovation strategy, and its effect is positively moderated by competitive intensity. The author also finds that opportunity shaping plays a fully mediating role in the relationship between effectuation and innovation strategy.

These findings enrich innovation strategy research and advance the effectuation theory by providing empirical evidence of the impact of effectuation on innovation strategy in high-tech new ventures. The findings also contribute to a growing stream of research on opportunity and integrating opportunity shaping into a more complete framework of innovation. Moreover, this research provides deeper insight into the missing links between effectuation and innovation strategy in high-tech new ventures by uncovering the mediating role of opportunity shaping.

Based upon a study of between fifty to sixty case examples of new venture start‐ups, the author presents a screening procedure for entrepreneurs to use when evaluating whether a proposed low‐budget marketing strategy for a new venture shows promise of being successful. The procedure consists of four sets of screening conditions. A well‐designed marketing strategy should have a reasonably good chance of being successful if it (1) will tightly integrate the product/service and price offerings, the intended distribution method, and the intended promotion plan with the new venture’s designated target market, (2) will encounter no serious marketing strategy execution difficulties which cannot be resolved, (3) uses marketing concepts which can be executed with a small marketing budget, and (4) displays three characteristics believed to be strongly associated with marketing strategies that are successful over the long term.

The purpose of this paper is to identify the early stage network engagement strategies that new ventures use to gain traction in interaction in the development of network capability.

Using 24 new ventures in the micro-brewing industry in Ireland, Belgium and the USA as an empirical base, the authors use an inductive case study approach owing to the exploratory nature of the research aim and the lack of prior literature in the area.

The findings suggest five early stage network engagement process strategies in network capability development: business-to-business network prospecting; co-branding/co-promoting activities; from maker-mindset to adapting; social media platforming; and recognition and activation of network role.

The findings are limited to the micro-brewery sector at one point in time, although in multiple country contexts. Analyzing other sectors and taking a temporal view of strategizing, analyzing the sector at another time point, would show how dynamics in engagement change as the actors acquire new experiences from interaction.

The potential to gain from network resources and the paucity of these resources in new ventures makes early stage engagement strategizing for network capability development an attractive business strategy for new firms. All firms are born within a social network that has economic importance. Identifying the five early stage network engagement strategies can mitigate the challenge for the new venture in moving from the initial social network to collaborating within wider business networks to gain access to resources, technology and customers.

Strategizing in new venture contexts is a relatively new stream of research for the industrial marketing and purchasing group. This paper adds to the growing body of literature that places interaction, relationships and networks at the heart of strategy making and provides important insights for new ventures, which may lead to earlier and greater success for the firms. The authors respond to calls for increased research addressing capability development in a new venture context and for research to take a more interactive perspective on new venture processes.

The purpose of this paper is to examine the impact of social media marketing on new venture performance utilizing Structure-Conduct-Performance (SCP) theory.

A survey approach was employed, and questionnaires were sent out to the representatives of new ventures established in the previous six years at the time of data collection. Measures were adapted from SCP theory and the measurement model examined. A total of 248 responses were analyzed using structural equation modelling (LISREL 11).

The results indicate that social media marketing capabilities have a positive impact on the marketing performance of new ventures through a mediating effect of social media marketing performance. Thus, social media marketing performance affects new venture performance through marketing performance.

This research supports the vitality of social media in the lives of new firms and the importance of social media when executing marketing activities. The perceptive measurement of social media marketing capabilities on the firm level can be useful for new ventures to evaluate their competencies related to social media, and thus help firms improve those capabilities over time.

This research contributes to the existing knowledge on linkages between social media marketing capabilities and new venture performance acknowledging the role of a turbulent market environment. Therefore, the recognition of industry structure articulated by a turbulent market environment, social media marketing capabilities and social media support for competitive marketing strategy answers the question of how social media marketing capabilities drive competitive marketing strategy and subsequently influence performance.

Synthesizing from the institutional theory and social network theory, this study investigates factors influencing green innovation performance in new ventures.

The findings show that the dimensions of internal social network; heterogeneous network and tie strength have significant positive effects on proactive environmental strategy based on a sample of 300 new ventures in China.

The results further support the mediating role of proactive environmental strategy on internal organizational networks and green innovation performance of new ventures. The study further investigated the moderating role of the regulatory quality as a dimension of institutional environment in China. The results show that the regulatory quality positively moderates the relationship between proactive environmental strategy and green innovation performance. Policy and managerial implications are further discussed.

Over the past 20 years, green innovation has increasingly attracted the attention of policymakers and scholars. However, most studies have focused on mature ventures, and little attention has been given to how newly established ventures attain green innovation performance.

The purpose of this paper is to examine the role of competitive memory that assists the new ventures to overcome challenges due to the liability of newness in the strategic adaptation stage.

This is a conceptual paper. Through a critical literature review on new venture survival and organizational memory, the authors identified the possibility for new ventures to learn from other firms from organizational learning and resource-based perspectives.

The authors found that new ventures can acquire and analyze the existing rivals' strategic moves documented in multiple sources, such as published yearbook, financial report, media, etc., and develop their own strategies. New ventures can also benefit from the relatively high degree of organizational inertia of existing rivals.

New venture survival and performance are substantially affected by the initial organizational learning and strategic decision-making. Applying the memory-inconsistent strategy (MIS), new ventures that lack competitive experiences can learn from their rivals by internalizing the rivals' competitive memory as strategic resources and utilizing such resources to develop a competitive strategy.

New venture research in competitive markets focuses on the challenges and difficulties due to the lack of experiences, neglecting the fact that new ventures can learn from competitive memories of existing rivals. However, the lack of competitive experiences also means a lower degree of organizational inertia and other strategic commitments. The authors introduce the MIS and suggest that new ventures can benefit from strategic flexibility and create a temporary competitive advantage by surprising existing firms.