Asia-Pacific Journal of Business (아태비즈니스연구)

KNU The Institute of Management & Economy Research (강원대학교 경영경제연구소)
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Operational Process and Success Factors of Corporate Venture in a Chinese Company: A Case Study of Haier

중국기업의 사내벤처 운영과정과 성공요인: 하이얼(Haier) 중심으로

  • Yu-Rou Hou (Department of Business Administration, Kyungpook National University) ;
  • Yuan-Jing Jin (Department of Business Administration, Kyungpook National University) ;
  • Moon-Gu Huh (Department of Business Administration, Kyungpook National University)
  • Received : 2023.11.30
  • Accepted : 2023.12.22
  • Published : 2023.12.31
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Abstract

Purpose - Focusing on Haier, a successful corporate venture in China, we analyse the operating mechanism and success factors of corporate venture, and reveal the necessary factors for the successful implementation of corporate venture. Design/methodology/approach - This study is a single case study centred on Haier, a successful corporate venture in China. Findings - The operational process of Haier's corporate venture includes six key aspects: project selection, team building, resource allocation and support, project implementation, risk control measures, performance evaluation and rewards. In terms of success factors, the support of top management with leadership capability of value creation and sharing is very important for the success of corporate venture. Secondly, a multi reward mechanism can be introduced to motivate employees and improve performance. Thirdly, it is important to integrate corporate culture into the operating mechanism of an corporate venture. Fourthly, flexible operations that break down rigid organisational boundaries and transform the organisation into a more open platform for entrepreneurship can increase the likelihood of success. Finally, empowering employees with operational discretion can also have a positive impact on the success of an Corporate Venture. Research implications or Originality - This study contributes to theory and practice by analysing the success conditions of corporate venture, providing new understanding and drawing new perspectives, especially from the experience of Haier. The results suggest strategies and flexibility for successfully pursuing corporate venture, and provide important experience for international companies to help them gain competitive advantage in global competition. It also helps corporate leaders to promote new directions and innovations and improve their strategies to respond to dynamic environments.

Keywords

Acknowledgement

이 논문(저서)은 2022학년도 경북대학교 연구년 교수 연구비에 의하여 연구되었음.

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