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Title: | Entrepreneurial alertness during severe crises: The effect on internal corporate venturing through business model innovation as a strategic response | Authors: | COLSON, Maarten VANDEKERKHOF, Pieter MARNEFFE, Wim SCHEPERS, Jelle |
Issue Date: | 2023 | Publisher: | WILEY | Source: | Creativity and Innovation Management, | Status: | Early view | Abstract: | This study exploits a unique sample of 536 Belgian SME business owners, collected immediately after the first COVID-19 lockdown, and provides new insights into how, during severe crises, business owners' entrepreneurial alertness functions as a critical strategic opportunity discovery skill for SMEs. Concretely, we find that entrepreneurial alertness can determine the emergence of a business model innovation (BMI) as a strategic response to severe crises, which then stimulates business owners' intent to start a new internal corporate venture (ICV). Creating such a new separate organizational entity within the structure of the existing firm can be strategically used as a tool to pursue the successful implementation of this BMI. Robustness and sensitivity analyses show that our results hold, and, in addition, we find that if business owners are lowly skilled in being able to be alert to discover innovative new opportunities for their firm, that this lack of skills negatively influences engaging in BMI and the subsequent intent to create such a new ICV to effectively implement the BMI. We discuss this study's contributions to the literature on BMI and (strategic) corporate venturing and address this study's practical implications. | Notes: | Colson, M (corresponding author), Hasselt Univ, Fac Business Econ, Res Ctr Entrepreneurship & Family Firms RCEF, Agoralaan,Bldg D, B-3590 Diepenbeek, Belgium. | Keywords: | business model innovation;corporate entrepreneurship;COVID-19;entrepreneurial alertness;internal corporate venturing | Document URI: | http://hdl.handle.net/1942/41979 | ISSN: | 0963-1690 | e-ISSN: | 1467-8691 | DOI: | 10.1111/caim.12583 | ISI #: | 001118380500001 | Rights: | 2023 John Wiley & Sons Ltd. | Category: | A1 | Type: | Journal Contribution |
Appears in Collections: | Research publications |
Files in This Item:
File | Description | Size | Format | |
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PUBLISHED Creat Innov Manage - 2023 - Colson - Entrepreneurial alertness during severe crises The effect on internal corporate.pdf Restricted Access | Early view | 1.26 MB | Adobe PDF | View/Open Request a copy |
Blinded manuscript Minor Revision CIM.pdf Until 2024-12-10 | Peer-reviewed author version | 440.54 kB | Adobe PDF | View/Open Request a copy |
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