Corporate entrepreneurship and sustainability transitions: resource redeployment of oil and gas industry firms in floating wind power

Tuukka Mäkitie
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Tuukka Mäkitie: TIK Center for Technology, Innovation and Culture, University of Oslo

No 20190226, Working Papers on Innovation Studies from Centre for Technology, Innovation and Culture, University of Oslo

Abstract: Established firms are often described passive in the development of clean technologies. However, it has been recently argued that the vast resources of established firms could also accelerate sustainability transitions e.g. in the energy sector. This paper contributes to the study of sustainability transitions and corporate entrepreneurship by investigating resource redeployment of three Norwegian oil and gas industry firms in corporate ventures in floating offshore wind power technologies. Using interview and document data, the findings show that the opportunity to use existing firm resources was a key motivation for the firms to engage in entrepreneurship in such technologies. Moreover, the firms could use their specialized and general-purpose resources in their entrepreneurial ventures, and could develop new technologies on the basis of their existing resources. This paper thus suggests that the process of resource redeployment can help to explain why, and describe how, established firms may engage in corporate entrepreneurship in new cleantech.

Pages: 23 pages
Date: 2019-02
New Economics Papers: this item is included in nep-ene
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