23-25 May 2019 | Vilnius
On the invitation of the Rector of University of Bialystok Prof. dr hab. Robert W. Ciborowski and of the Conference Chair Prof. dr hab. Andrzej H. Jasiński, Prof. Dr. habil. Thomas Baaken held the keynote of the International Conference "Institutional Conditions for an Innovative Development of a Contemporary Economy", which was held from the 23 to the 25 May 2019 in Vilnius, Lithuania.
In one of the tracks Prof. Baaken also presented a paper;
Baaken, Th., Alfert, C., Kliewe Th.: Corporate Venturing - a new way of creating a company's future.
The presentation was well received and got valuable feedback and comments. The paper will be published in a special issue attached to the polish International Journal 'Optimum. Studia Ekonomiczne', Vol. 81, No. 5. (ISSN 1506-7637, http://optimum.uwb.edu.pl):
Abstract: "More and more companies are embarking on an experimental journey into an unpredictable future - a future that is characterised by uncertainty and new challenges. Corporate venturing enables established companies, so-called incumbents, to deal with new markets and business models in a highly flexible and innovative way, aside to their existing business and well known so far successful business models.
A new innovator's dilemma has emerged: Established companies are required to be increasingly creative and to question existing thought patterns. Similar to start ups and new businesses.
The paper is addressing a portfolio of new approaches, tools and methods, like Agile Teams, Corporate Incubators, Company Builders, Venture Creation, Think Tanks, and others. In addition to practice-oriented approaches in the form of short case studies, Effectuation is presented as a transformative approach in entrepreneurial in-house activities. Finally, a model is presented which indicates a degree of maturity to be prepared to establish those new activities."