BIROn - Birkbeck Institutional Research Online

    Exploring the internal and external venturing of large R&D-intensive firms

    Williams, C. and Lee, Soo Hee (2009) Exploring the internal and external venturing of large R&D-intensive firms. R&D Management 39 (3), pp. 231-246. ISSN 0033-6807.

    Full text not available from this repository.


    We explore the realized strategies of large R&D-intensive firms through a venturing lens, focusing on two industries: pharmaceuticals and high-technology equipment manufacturing. Specifically, we examine changes in strategy over time along two critical dimensions: (1) focus of venturing, i.e., internally vs externally oriented, and (2) learning orientation i.e., explorative vs exploitative. Our empirical analysis is based on news stories relating to six large, R&D-intensive firms over a 6-year period. The findings suggest the following: (1) exploration is more prevalent than exploitation in both pharmaceuticals and high-technology equipment manufacturing, but pharmaceuticals have a greater preference for internal venturing than high-technology equipment manufacturing; (2) three firm-level venturing strategy types can be discerned, which are independent of the specific industry; and (3) change in realized strategy is a dynamic capability facilitated by firm-level factors. These results, albeit explorative, emphasize venturing in R&D industries as a dynamic capability that is influenced by firm-level characteristics rather than industry membership.


    Item Type: Article
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Administrator
    Date Deposited: 12 May 2011 11:15
    Last Modified: 02 Aug 2023 16:51


    Activity Overview
    6 month trend
    6 month trend

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item Edit/View Item