Determination of the integration of corporate venture in strategic management in the Kenya wildlife

Abstract

Recently there has been a growing interest in the use of corporate venturing as a means for corporations to enhance the innovative abilities of their employees and, at the same time, increase corporate success through the creation of new corporate ventures. However, the creation of corporate activity is difficult since it involves radically changing internal organizational behavior patterns. The objective of this study was to determine the integration of corporate venture in strategic management in the Kenya Wildlife Service. In undertaking the study, employees of the KWS were considered. Data was collected by use of questionnaires reinforced by personal visits and telephone calls. A total of 70 questionnaires were distributed to the employees. Out of these, 53 responded by completing and returning the questionnaires. Research findings revealed that corporate venture was well integrated with strategic management as was evidenced by the integration of innovation and creativity as one of the objectives in the organization balance score card. From the findings, it was concluded that the major challenge faced in implementing corporate venture at the Kenya wildlife service was limited financial resources for research and development and luck of training on corporate venture. Arising from the findings, it was recommended that the organization’s management should emphasis and support strong corporate venture by training employees on corporate venturing as a way of creating the organizations wealth and collaborate with the government to obtain funding for Research and Development.