scholarly journals Managing New Ventures

2021 ◽  
pp. 73-99
Author(s):  
Dean A. Shepherd ◽  
Holger Patzelt
Keyword(s):  
Social Relationships ◽  
New Ventures ◽  
New Venture ◽  
Entrepreneurial Process ◽  
Organizational Emergence ◽  
The Creation ◽  
Founding Team

AbstractThe creation of new ventures and growing them into well-established organizations is the key purpose of managing new ventures. This chapter explains the 10 most essential subtopics for managing new ventures (Shepherd et al. in Journal of Management 47:11–42, 2021): (1) lead founder, (2) founding team, (3) social relationships, (4) cognitions, (5) emergent organizing, (6) new venture strategy, (7) organizational emergence, (8) new venture legitimacy, (9) founder exit, and (10) entrepreneurial environment. This chapter ties these “managing” subtopics into the three major stages of the entrepreneurial process—co-creating, organizing, and performing. The framework provides a cohesive story of managing new ventures.

scholarly journals Creating New Ventures: A Review and Research Agenda

2020 ◽  
Vol 47 (1) ◽  
pp. 11-42 ◽  
Author(s):  
Dean A. Shepherd ◽  
Vangelis Souitaris ◽  
Marc Gruber
Keyword(s):  
Organizational Behavior ◽  
Social Relationships ◽  
Research Agenda ◽  
New Ventures ◽  
New Venture ◽  
Future Research ◽  
The Past ◽  
Road Map ◽  
Organizational Emergence ◽  
Founding Team

Creating new ventures is one of the most central topics to entrepreneurship and is a critical step from which many theories of management, organizational behavior, and strategic management build. Therefore, this review and proposed research agenda are relevant to not only entrepreneurship scholars but also other management scholars who wish to challenge some of the implicit assumptions of their current streams of research and extend the boundaries of their current theories to earlier in the organization’s life. Given that the last systematic review of the topic was published 16 years ago, and that the topic has evolved rapidly over this time, an overview and research outlook are long overdue. From our review, we inductively generated 10 subtopics: (a) lead founder, (b) founding team, (c) social relationships, (d) cognitions, (e) emergent organizing, (f) new-venture strategy, (g) organizational emergence, (h) new-venture legitimacy, (i) founder exit, and (j) entrepreneurial environment. These subtopics are then organized into three major stages of the entrepreneurial process: co-creating, organizing, and performing. Together, the framework provides a cohesive story of the past and a road map for future research on creating new ventures, focusing on the links connecting these subtopics.

scholarly journals Examining the nature of resource-based processes in new venture development through a business-duality lens: A farming sector taxonomy

2012 ◽  
Vol 30 (2) ◽  
pp. 161-188 ◽  
Author(s):  
Helen Perks ◽  
Dominic Medway
Keyword(s):  
Late Stage ◽  
New Ventures ◽  
Multiple Case Study ◽  
New Venture ◽  
Entrepreneurial Process ◽  
Case Study Methodology ◽  
Multiple Case ◽  
Study Methodology ◽  
Insight Into

This article investigates the nature of resource-based processes in the development of new ventures, adopting a business duality lens. Business duality occurs where a new venture is developed alongside an established business. The research employs a multiple case study methodology situated in the farming sector. The details of resource assembly and deployment are examined and presented through four stages of the entrepreneurial process: initiation, experimentation, mature and late stage. The findings offer insight into the manner in which resource ties between the businesses relate to processes of resource assembly and deployment and in addition, inform a business duality-based taxonomy. This depicting three generic approaches to managing resource-based processes in the development of new ventures in the farming sector: holistic innovators, reactive innovators and cautious innovators. We conclude by considering the implications of our arguments for new venture activity in other business duality contexts.

Varieties of bricolage and the process of entrepreneurship

2011 ◽  
Vol 14 (2) ◽  
pp. 53-66 ◽  
Author(s):  
Jeff Vanevenhoven ◽  
Doan Winkel ◽  
Debra Malewicki ◽  
William L. Dougan ◽  
James Bronson
Keyword(s):  
Social Relationships ◽  
New Venture ◽  
Entrepreneurial Process ◽  
External Resources ◽  
Internal Resources ◽  
Theoretical Account

We offer a theoretical account of how two types of bricolage influence the entrepreneurial process. The first type involves social relationships or physical or functional assets, and thus pertains to an entrepreneurʼs external resources used in the instantiation of operations of a new venture. The second type pertains to an entrepreneurʼs internal resources‐experiences, credentials, knowledge, and certifications‐which the entrepreneur appropriates, assembles, modifies and deploys in the presentation of a narrative about the entrepreneurial process. We argue that both types of bricolage are essential to the success of a venturing attempt.

scholarly journals Scaling Technology Ventures in Africa: New Opportunities for Research

2021 ◽  
Author(s):  
Tim Weiss ◽  
Markus Perkmann ◽  
Nelson Phillips
Keyword(s):  
Institutional Environment ◽  
New Ventures ◽  
New Venture ◽  
Regulatory Change ◽  
Venture Creation ◽  
Technology Firms ◽  
Entrepreneurial Strategies ◽  
Research Stream ◽  
Founding Team ◽  
Technology Ventures

Research on new venture creation in Africa is growing rapidly. This increasing interest reflects both the potential for entrepreneurship to contribute to the economic and social development of Africa, as well as the potential for this research to provide new insights that challenge and extend theories developed primarily from studies of North American and European new ventures. In this editorial essay, we argue for an expansion of this important research stream to include a focus on how technology ventures scale in Africa. We identify seven topics that offer interesting opportunities for research on scaling in Africa: (1) the effect of venture location on scaling; (2) the effect of founding team diversity on scaling; (3) the effect of entrepreneurial strategies on scaling; (4) the effect of nascent ecosystems on scaling; (5) the effect of the institutional environment on scaling; (6) the effect of nascent financial markets on scaling; and (7) the societal effects of scaling. We discuss each of these topics, their potential to contribute to the existing literature, and provide examples of African technology firms that have scaled to illustrate each topic. We conclude with a discussion of how African social, political, and regulatory change, combined with rapidly developing entrepreneurial ecosystems, are creating a context where the successful scaling of technology ventures is becoming increasingly common, and research is therefore increasingly valuable.

A Liability of Breadth? The Conflicting Influences of Experiential Breadth on Perceptions of Founding Teams

2017 ◽  
Vol 45 (4) ◽  
pp. 1540-1568 ◽  
Author(s):  
Michael J. Mannor ◽  
Fadel K. Matta ◽  
Emily S. Block ◽  
Adam L. Steinbach ◽  
James H. Davis
Keyword(s):  
Value Chain ◽  
New Ventures ◽  
Top Management Team ◽  
Firm Strategy ◽  
Management Team ◽  
New Venture ◽  
Key Stakeholders ◽  
Different Types ◽  
Revenue Streams ◽  
Founding Team

Although it is well established that top management team (TMT) experience is highly valued in new ventures, research has largely focused on the value of experience depth. However, founding teams often bring a myriad of different types of experience to their business. Less is understood about how these experiences are perceived by key stakeholders, and prior theory suggests that TMT breadth could be viewed as either an asset or a liability. Drawing from theory on cognitive categorization, we hypothesize that the perceived value of executive breadth depends on the context in which a venture is situated. We argue that the characteristics of the environment shape the degree to which experience breadth is valued, and we show that investors assess breadth positively in opportunistic environments but negatively in threatening environments. Contrary to previous research, we show that breadth can, at times, be viewed as a distinct liability for a new venture. In supplementary analyses, we also show that these effects are not contingent upon the depth of the founding team’s experience. Further, we find that founding team breadth does have significant influences on firm strategy, including the structural positioning of the firm in an industry’s value chain and the cultivation of diverse revenue streams, but that the effect of breadth on investor perceptions is not mediated through these differences in strategy.

Entrepreneurial Bricolage and New Product Development Performance in New Ventures: The Contingent Effects of Founding Team Involvement

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Xinchun Wang ◽  
Xiaoyu Yu ◽  
Xiaotong Meng
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Resource Constraints ◽  
New Ventures ◽  
New Products ◽  
New Product ◽  
Strategic Decision ◽  
Entrepreneurial Bricolage ◽  
Founding Team ◽  
Npd Performance

Abstract New product development (NPD) performance is a key determinant of a new venture’s success. However, compared with established firms, new ventures often suffer from resource constraints when developing new products. Entrepreneurial bricolage is reported in the literature as an alternative strategic option that enables managers to overcome resource constraints when developing new products. However, because new ventures are often founded by an entrepreneurial team, the effectiveness and efficiency of using bricolage to improve NPD performance might be contingent on how the founding team plays its roles in this process. Using data from 323 new ventures in China, we find support for the critical role of entrepreneurial bricolage in improving NPD success under resource constraints. More importantly, our results reveal that the bricolage strategy is more likely to benefit a venture when the founding team is composed of members with diverse functional backgrounds and is not heavily involved in strategic decision-making.

Does it pay to bribe? The influence of bribery on new venture disbanding in China

2021 ◽  
Vol 46 (3) ◽  
pp. 185-196
Author(s):  
Jintong Tang ◽  
Zhi Tang
Keyword(s):  
Economic Development ◽  
Resource Dependence ◽  
Local Economic Development ◽  
New Ventures ◽  
Resource Dependence Theory ◽  
Theory And Practice ◽  
New Venture ◽  
Resource Based View ◽  
Dependence Theory ◽  
Chinese Entrepreneurs

This research extends bribery research toward entrepreneurial theory and practice by examining how bribery impacts new venture disbanding in China. Existing research suggests that bribery may enhance firms’ competitive advantage; however, building off of resource-based view and taking into consideration the institutional context in China, the current study proposes that firm bribery activity hurts new ventures by increasing the hazard of venture disbanding. Further, guided by resource dependence theory, this study examines how local economic development and organizing activity moderate the relation between bribery and disbanding. In particular, it is proposed that when local economic development is suffering, or when firms are not engaging in appropriate organizing activities, bribery will lead to higher chance of new venture disbanding. Data from Chinese entrepreneurs support these hypotheses.

How do social skills enable nascent entrepreneurs to enact perseverance strategies in the face of challenges? A comparative case study of success and failure

2014 ◽  
Vol 20 (6) ◽  
pp. 517-541 ◽  
Author(s):  
Wadid Lamine ◽  
Sarfraz Mian ◽  
Alain Fayolle
Keyword(s):  
Social Skills ◽  
New Technology ◽  
New Ventures ◽  
Nascent Entrepreneurs ◽  
Entrepreneurial Process ◽  
Ongoing Research ◽  
Content Type ◽  
Start Up ◽  
The Impact

Purpose – This paper seeks to advance ongoing research in entrepreneurial perseverance. While the concept of perseverance is not new, few researchers paid attention to behavioural persistence in the entrepreneurial context. The purpose of this paper is to explore the emergence of new technology based firms (NTBF) by focusing on the role of nascent entrepreneurs’ social skills in the meeting the changes of entrepreneurial perseverance. Design/methodology/approach – In this paper the authors study the start-up phase of entrepreneurial process. The authors opted for a longitudinal case study approach in order to enhance the knowledge on entrepreneurs’ social skills and perseverance. For triangulation purpose the data were gathered using four different information sources. The use of Nvivo8 as the data analysis tool helped to impose a discipline and structure which facilitated the extraction of core insights. Findings – This paper contributes to the understanding of the entrepreneurial perseverance in the context of new venture creation. Particularly, reading the entrepreneurial process through the lens of the perseverance strategies model (Van Gelderen, 2012) provided a way to identify and then to assess the impact of the social skills on the overall entrepreneurial perseverance and their combined impact on the performance of NTBF creation process. In doing so, the authors identify the impact of entrepreneurs’ social skills to deal with a series of entrepreneurial problems such as scarcity of resources, uncertainty and ambiguity and consequently their impact on the likelihood of survival for new ventures. The issues that arose mostly reflected the inherent complexity of technology transfer processes, the university and entrepreneurs’ diverging cultures, and the very characteristics of the start-up phase of NTBFs. The findings reveal how social skills impact the entrepreneurial paths and probable outcomes. Research limitations/implications – This paper contributes to the understanding of the entrepreneurial perseverance in the context of NTBF creation. The findings reveal how social skills and perseverance impact the entrepreneurial paths and probable outcomes. Practical implications – The paper has implications for entrepreneurial support mechanisms such as technology business incubators in helping them to improve the efficacy and efficiency of their assistance to entrepreneurs through the development of their skill-sets and perseverance and providing enabling networking. In addition, the research has implications for entrepreneurship education and training. Indeed, there is an urgent need to design and implement courses and programs aiming at developing soft skills in entrepreneurship. Originality/value – In exploring networking and issues of perseverance for nascent entrepreneurs operating in new technology-based sectors, which the authors consider as an under searched area in entrepreneurial literature.

ENTREPRENEURSHIP AS ENTREPRENEUR: THE INFLUENCES OF PERSONALITY AND COMPETENCIES TO THE NEW E

2018 ◽  
Vol 6 (2) ◽  
pp. 89-100
Author(s):  
AHMAD FIRDAUSE MD FADZIL ◽  
MOHD RAFI YAACOB ◽  
FAUZILAH SALLEH ◽  
AHMAD SHUKRI YAZID ◽  
ZAINUDIN AWANG
Keyword(s):  
Personality Traits ◽  
New Ventures ◽  
Venture Creation ◽  
Business Decision ◽  
Tolerance Of Ambiguity ◽  
Economic Progress ◽  
The Creation ◽  
Entrepreneurial Competencies ◽  
The Government ◽  
Complementary Study

A number of intensive studies on entrepreneurs which consider entrepreneurship as one of the mostimportant elements in business have been conducted within the past few years. An entrepreneur isresponsible for every aspect of a new venture’s creation considering that they are usually the lead personin every business decision. To date, researchers have tended to ignore the issues related to the qualitiesof entrepreneurs in the creation of new e-commerce ventures. While entrepreneurial competencies havebecome extremely important recently, as a complementary study, the personality traits of the entrepreneurcould also be studied. Much uncertainty still exists; hence, this study set out to determine the role ofpersonality and entrepreneurial competencies in the creation of new e-commerce ventures in Malaysia.This research uses a case studies approach in which data was collected by interviewing twelve e-commerceentrepreneurs from May 2013 until December 2014. The fi ndings have identifi ed that seven personalitytraits are most prevalent; namely, creativity, risk taking, inspiration, need for autonomy and freedom,tolerance of ambiguity, a hardworking and persistent attitude, and optimism, all of which vigorously havecontributed to new e-commerce venture creation in Malaysia. In the case of entrepreneurial competencies,it was deemed crucial for entrepreneurs to be equipped with both computer and communication skills tofacilitate the creation of new ventures. Therefore, it is best for the government to promote entrepreneurialactivity by highlighting the elements of entrepreneurs in terms of personality traits and entrepreneurialcompetency aspects. Finally, through a better understanding of our entrepreneurs, we will amplify theemergence of new ventures to strengthen the economic progress of the country.   Kajian lepas secara intensif telah melihat keusahawanan adalah sesuatu elemen yang penting dalamperniagaan sejak kebelakangan ini. Usahawan adalah bertanggungjawab terhadap segala aspekkeputusan dalam perniagaan yang dijalankan. Para penyelidik kini telah cenderung mengabaikan isuisu yang berkaitan dengan kualiti dimiliki usahawan terutamanya dalam konteks peniagaan e-dagangyang diketahui telah memberikan sumbangan besar terhadap nilai ekonomi kepada negara. Walaupunelemen kompetensi dimiliki usahawan menjadi kajian yang penting, sebagai pelengkap, personalitiusahawan turut menjadi keutamaan untuk dikaji oleh para penyelidik. Dengan ketidakpastian yangmasih wujud; objektif kajian ini adalah melihat peranan personaliti dan kompetensi usahawan terhadapproses penciptaan perniagaan baharu e-dagang di Malaysia. Kajian ini menggunakan pendekatan secarakajian kes iaitu seramai dua belas usahawan e-dagang telah ditemubual bermula Mei 2013 sehinggaDisember 2014. Penemuan kajian ini telah mengenal pasti terdapat tujuh ciri-ciri personaliti; iaitu kreativiti,mengambil risiko, inspirasi, keperluan autonomi dan kebebasan, toleransi terhadap kekaburan, sikapyang rajin dan cekal, dan optimistik adalah menyumbang kepada proses penciptaan perniagaan baharu e-dagang di Malaysia. Dalam konteks kompetensi, ia dianggap penting bagi usahawan untuk dilengkapidengan kemahiran komputer dan kemahiran berkomunikasi bagi memudahkan mereka semasa prosespenciptaan perniagaan baharu tersebut. Oleh itu, adalah terbaik bagi kerajaan mempromosikan aktivitikeusahawanan dengan menonjolkan espek personaliti dan kompetensi diri perlu dimiliki oleh usahawan.Akhirnya, penerapan pemahaman yang lebih baik berkenaan keusahawanan akan mengukuhkan nilaiekonomi di sesebuah negara melalui peningkatan KDNK, penciptaan peluang pekerjaan, dan nilai tambahmelalui kemunculan perniagaan baharu. 

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