Abstract
T HE term venture management has been used to describe a wide array of new product and new business start-up activities. In today's large corporations, venture management can be defined as a full-time interdisciplinary team established at either the corporate or divisional level to profitably transfer new technology or new ideas from the laboratory to the marketplace. Previous articles discussed some conceptual foundations of successful venture management at companies such as 3M and DuPont,1 but the historical fact of corporate experience is that few firms have had significant success with this deceptively simple concept. Some firms have had partial success, with many ventures in a state of limbo between success and failure; others have experienced disastrous results.
Published Version
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