Corporate Venturing or Strategic Entrepreneurship: What viable option for Enterprise Survival in Nigeria: A Conceptual Review

Navigating the murky and erratic operating business environment, for survival and gaining competitive edge over other competitors is the core goal of every business enterprise. The operating business environment has been a major course of concern for the realization of this core goal of enterprises all over the world. This paper reviewed conceptually the most viable survival option for enterprises operating in an erratic and highly unstable business environment like the study area, Nigeria, using the two most dominant forms of corporate entrepreneurship (Corporate venturing and strategic entrepreneurship) as option for enterprise survival.The paper relies completely on secondary documentations, where previous research works done in this area of interest were downloaded from the world most recognized database like emerald, Sage, Taylor and Francis among others and reviewed in line with the objective of the study.The reviewed articles revealed a consensus of thoughts among scholars on the significant positive effect of both corporate venturing and strategic entrepreneurship on the performance and survival of enterprise facing challenging operating environment like Nigeria. While corporate venturing strategy direct the enterprise effort toward business expansion and consolidation through acquisition and merger of innovative start-up, resulting in high performance in terms of profit margin and sales volumes, strategic entrepreneurship direct the enterprise strength and resources toward surviving tough and turbulent operating environment through constant renewal, rejuvenation and business model reconstruction to gain competitive advantage in a competitive operation environment. The reviewed articles findings specifically reveals that, the adoption of strategic entrepreneurship is a more viable survival option for enterprise operating in tough and unstable environment like Nigeria than corporate venturing option. Based on the reviewed findings, the paper recommend that, enterprises faced with threat of survival should adopt strategic entrepreneurship option while enterprises focusing on business expansion and consolidation should adopt corporate venturing option.