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Damage control for new corporate ventures.

Z Block

    The Journal of Business Strategy
    |February 8, 1989
    PubMed
    Summary

    Corporations lose billions on new ventures annually. A venture cost management program can reduce losses from unsuccessful projects and boost the success of promising ventures.

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    Area of Science:

    • Business Management
    • Innovation Management
    • Financial Strategy

    Background:

    • Corporations incur substantial financial losses, amounting to billions, from investments in new ventures.
    • Ineffective management of venture costs contributes significantly to these financial setbacks.

    Purpose of the Study:

    • To introduce a venture cost management program designed to mitigate financial losses in new corporate ventures.
    • To provide a framework for controlling expenditures on unsuccessful ventures while optimizing resource allocation for successful ones.

    Main Methods:

    • Development of a structured venture cost management program.
    • Implementation of strategies for cost control and performance acceleration within corporate innovation pipelines.

    Main Results:

    • Significant reduction in the overall cost of new ventures.
    • Improved success rates and accelerated timelines for high-potential ventures.
    • Substantial financial savings for corporations through optimized venture investment.

    Conclusions:

    • A well-defined venture cost management program is crucial for corporate financial health.
    • Implementing such a program can transform underperforming ventures and enhance the return on investment for successful ones.

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