Design thinking and effectuation in internal corporate venturing: an exploratory study

This study examines design thinking and effectuation in internal corporate venturing. By researching five internal corporate venturing projects in their early stage from idea to concept to a project that is funded and staffed, we reveal elements of effectuation and design thinking from the viewpoint of the corporate entrepreneur. We find that corporate entrepreneurs work mainly following an effectuative logic, especially through their own means, while elements of prediction are imposed through decision gates in the case company. Furthermore, we find connections to design thinking. We conceptually compare design thinking and effectuation and contribute to the body of knowledge through bridging design thinking and effectuation to internal corporate venturing as well as the connection of design thinking and effectuation.