Strategy Making of Internal Corporate Ventures: Findings on the Interplay of Content and Process

This paper describes the genesis of strategy in two internal corporate ventures. The comparison of archival and interview data suggests that content and process are intrinsically intertwined in the early stages of strategy-making. Strategic learning takes place as a result of interpreting successful strategic activities, and translates into a master strategy for a new business field. Process generates content, but content disciplines process in strategy-making.