Corporate Venturing: Implications in a Globalized Environment

Abstract

Strategy and business management continue to evolve and change in the face of rapidly evolving business environment, but there appears to be a need for improved management techniques. Disruptive innovation, fast follower strategies, and blue ocean techniques have been discussed at length within both the academic and market-oriented publications, but there are alternative options available to innovative and creative management professionals. Adhocracy, and the concept underpinning this idea—the requirement of businesses and management teams to respond dynamically to changes in the business environment, is a reality in the globalized competitive landscape. That said, in order to develop coherent and logical strategies to achieve sustainable advantages it is necessary that the organization have reliable information from which to base decisions. Accounting professionals, specifically management accountants embedded within various aspects of the organization, are uniquely positioned to take advantage of these requirements. Organizations and management professionals need quality information to make quality business decisions, and this where accounting professionals who are able to effectively leverage technology can add significant value to the organization. Innovative thinking, creativity, and the ability to effectively use technology to make better business decisions are very possibly the competitive advantage of the twenty-first century. Management professionals must take note, and be sure to utilize the information available to better navigate the business landscape in a globally competitive and dynamic business environment.