Chapter 1Internal Corporate Venturing
Innovation and Entrepreneurship in Established Firms
Major changes have taken place in American business during the last 20 years. Self-confidence based on a position of great prestige in the world economy, a sense of being the "best and the brightest," has given way to a position characterized by self-doubt and defensiveness. After World War II, and throughout the 1950s and 1960s, European and Japanese managers trooped dutifully to the United States to visit its corporations and business schools, in order to learn the secrets of success of American business. Many American...