scholarly journals Learning from Feedback: Evidence from New Ventures*

2021 ◽  
Author(s):  
Sabrina T Howell
Keyword(s):  
Negative Feedback ◽  
Early Stage ◽  
New Ventures ◽  
New Venture ◽  
Relative Rank ◽  
Risk Venture

Abstract This article studies how early-stage entrepreneurs respond to negative feedback about the quality of their ventures. We use data from new venture competitions, some of which privately inform founders of their relative rank. The empirical strategy compares lower and higher ranked losers across competitions in which they did and did not observe their standing. Receiving negative feedback increases average venture abandonment by 13%. Differences in responsiveness—for example, in venture risk, venture maturity, and signal precision—are consistent with particular theories about entrepreneurship, including the importance of experimentation.

Early stage network engagement strategies in the network capability development of new ventures

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Helen McGrath ◽  
Thomas O'Toole
Keyword(s):  
Social Network ◽  
Business Strategy ◽  
Early Stage ◽  
New Ventures ◽  
New Venture ◽  
Capability Development ◽  
Content Type ◽  
Study Approach ◽  
Engagement Strategies ◽  
Network Capability

Purpose The purpose of this paper is to identify the early stage network engagement strategies that new ventures use to gain traction in interaction in the development of network capability. Design/methodology/approach Using 24 new ventures in the micro-brewing industry in Ireland, Belgium and the USA as an empirical base, the authors use an inductive case study approach owing to the exploratory nature of the research aim and the lack of prior literature in the area. Findings The findings suggest five early stage network engagement process strategies in network capability development: business-to-business network prospecting; co-branding/co-promoting activities; from maker-mindset to adapting; social media platforming; and recognition and activation of network role. Research limitations/implications The findings are limited to the micro-brewery sector at one point in time, although in multiple country contexts. Analyzing other sectors and taking a temporal view of strategizing, analyzing the sector at another time point, would show how dynamics in engagement change as the actors acquire new experiences from interaction. Practical implications The potential to gain from network resources and the paucity of these resources in new ventures makes early stage engagement strategizing for network capability development an attractive business strategy for new firms. All firms are born within a social network that has economic importance. Identifying the five early stage network engagement strategies can mitigate the challenge for the new venture in moving from the initial social network to collaborating within wider business networks to gain access to resources, technology and customers. Originality/value Strategizing in new venture contexts is a relatively new stream of research for the industrial marketing and purchasing group. This paper adds to the growing body of literature that places interaction, relationships and networks at the heart of strategy making and provides important insights for new ventures, which may lead to earlier and greater success for the firms. The authors respond to calls for increased research addressing capability development in a new venture context and for research to take a more interactive perspective on new venture processes.

Is business planning useful for the new venture emergence?

2018 ◽  
Vol 12 (4) ◽  
pp. 847-870 ◽  
Author(s):  
Ya-long Wei ◽  
Dan Long ◽  
Yao-kuang Li ◽  
Xu-sheng Cheng
Keyword(s):  
Early Stage ◽  
Contextual Factors ◽  
New Ventures ◽  
Panel Study ◽  
Binary Logistic Regression ◽  
New Venture ◽  
Business Planning ◽  
Content Type ◽  
Innovative Products ◽  
The Impact

Purpose The purpose of this paper is to build a research model to examine the effects of business planning on the new venture emergence, as well as to examine the moderating effects of innovativeness of products. Design/methodology/approach Four hypotheses are put forward and examined by hierarchical binary logistic regression. The data of this paper are based on the first two waves of data from Chinese Panel Study of Entrepreneurial Dynamics project. Findings Results show that engaging in business planning has a positive effect on the new venture emergence, and the timing of business planning does not affect the new venture emergence significantly. This study also finds that the innovativeness of products has a positive moderating effect on the relationship between the timing of business planning and the new venture emergence. Research limitations/implications This study has some limitations. The innovativeness of products is measured by a single indicator, which may not completely reflect the meaning of the attribute. Moreover, this study explores new ventures only in the nascent stage. Practical implications The study is useful for entrepreneurs to realize the importance of business planning. First, engaging in business planning in early start-up stage is a very valuable activity, because business planning can help new ventures reduce the loss caused by trial and error learning. Second, engaging in business planning is more likely to ensure high innovative products quickly be accepted by the market. Because in the process of new venture emergence, the legitimacy signal to stakeholders can be transmitted and new products can be promoted to get support and recognition from stakeholder through the business plan. Originality/value This paper focuses on the early stage of new venture life cycle and the contextual factors to explore the influence of business planning on the new venture emergence under the logic of legitimacy. This paper could enrich business planning research from the perspective of legitimacy theory by inspiring scholars to focus on the differences between new ventures and mature enterprises and to offer proposals of legitimation strategies suitable for new ventures. Meanwhile, this study contributes to the understanding of the contextual factors of business planning. And it discusses the impact of the attribute in business planning on the new venture emergence, which helps scholars to get a deep thought about the value of business planning in entrepreneurial process.

scholarly journals The impact of founders' personality traits on the performance of Chinese apparel new ventures

2015 ◽  
Author(s):  
◽  
Li Zhao
Keyword(s):  
Personality Traits ◽  
Online Survey ◽  
New Ventures ◽  
Apparel Industry ◽  
New Venture ◽  
Venture Performance ◽  
Research Findings ◽  
The Impact ◽  
New Venture Performance

The study investigated how founders' personality traits impact Chinese apparel new venture performance. An online survey was conducted using founders' personality traits, the quality of firm network relationships, perceived competitive advantages, and perceived Chinese apparel new venture performance scales. Grounded in Barney's (1991) resource-based view of the firm, the study findings were expected to provide further evidence of the importance of the relationship between founders' personality traits and the quality of a firm's network relationships and, in turn, the impact on Chinese apparel new venture success. The findings may help people who are interested in starting new ventures in the Chinese apparel industry manage external network relationships that are critical for new venture success. Furthermore, the research findings would improve academic understanding of the Chinese apparel industry. Supply chain partners could also utilize these findings to make appropriate strategies for improving relationships with Chinese apparel new ventures to cope with the critical business challenges of globalization and collaboration.

The impact of entrepreneurs' full-time versus hybrid employment and social connections on new venture survival: a USA–India comparison

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xi Zhang ◽  
Shanthi Gopalakrishnan ◽  
Raja Roy ◽  
Cesar Bandera
Keyword(s):  
Early Stage ◽  
New Ventures ◽  
New Venture ◽  
Social Connections ◽  
Entrepreneurial Firms ◽  
Full Time ◽  
Content Type ◽  
Country Level ◽  
The Usa ◽  
The Impact

PurposeThe purpose of this paper is to explore how the entrepreneurs' social connections and types of employment differentially affect the survival of startup firms in the USA and India. Further, the authors analyze the differences during both the early stage and the later stages of new ventures.Design/methodology/approachThe authors use data from the Global Entrepreneurship Monitor (GEM) database between 2012 and 2014 and examine the hypothesized effects with logistic regression analyses.FindingsThe analysis reveals that an entrepreneur's social connections with other entrepreneurs favor the survival of the focal entrepreneur's early-stage business in the USA. However, social connections are more critical for later-stage ventures in India. During the early stage, new ventures of full-time entrepreneurs are more likely to survive in India, whereas those by hybrid entrepreneurs are more likely to survive in the USA. The differences between the importance of full-time and hybrid entrepreneurs across geographies are less discernible during the later stages of new ventures.Originality/valueThe novelty of this paper is that it demonstrates the significant differences in the way social connections and types of employment (hybrid versus full-time) affect the survival of entrepreneurial firms in the early and later stages. The study also expands the international business literature by shedding new light on country-level differences that affect the survival of new ventures.

INDIVIDUAL ENTREPRENEURIAL CHARACTERISTICS AND ENTREPRENEURIAL SUCCESS POTENTIAL

2005 ◽  
Vol 02 (03) ◽  
pp. 277-292 ◽  
Author(s):  
WING-KI WONG ◽  
HONG-MAN CHEUNG ◽  
PATRI K. VENUVINOD
Keyword(s):  
Engineering Students ◽  
Early Stage ◽  
Selection Process ◽  
New Ventures ◽  
Success Probability ◽  
New Venture ◽  
Extensive Literature ◽  
Sustainable Competitive Advantage ◽  
Entrepreneurial Characteristics ◽  
Selection Of

Entrepreneurial technology-based new venture constitutes a dominant proportion of incubated firms. Often, such firms are established by engineering graduates. This paper investigates a methodology for assessing the potential for success of new ventures set up at an early stage by engineering students via an evaluation of the entrepreneurial personalities of engineering students. The survey of 215 students of Manufacturing Engineering indicates particular traits have a strong predictive impact on the proclivity towards the different 'idea factors on innovation' suggested by Goldenberg et al. [1999]. In particular, 'risk-taking propensity' and 'need to achieve' are two critical characteristics that significantly influence the selection of 'success-intended' idea factors whereas 'external locus of control' influences the selection of 'failure-intended' idea factors. The findings have important implications for researchers, business incubators, and policy makers inside and outside universities. Based on the extensive literature and successful result in demonstrating entrepreneurial characteristics as predictors of sustainable competitive advantage of future entrepreneurs by identifying types of idea factor adopter, the results of this study can be used either as a self-evaluation (self-screening) before starting a new venture that has a higher success probability. Specifically, the results indicate that the classification of idea factor adopters, in terms of entrepreneurial behavior, the incubator may be better able to identify the go or no-go decision for applicants. For instance, incubators could try to base their selection process for business incubation programme partly on information provided by applicants about personality traits and preferences regarding entrepreneurship.

New Venture Creation: A Drift-Variance Diffusion Control Model

2021 ◽  
Author(s):  
Zhengli Wang ◽  
Stefanos Zenios
Keyword(s):  
Early Stage ◽  
New Ventures ◽  
Preliminary Evidence ◽  
Control Model ◽  
New Venture ◽  
Diffusion Control ◽  
New Venture Creation ◽  
Venture Creation ◽  
Trade Off ◽  
Additional Funding

A Model for New Venture Creation New ventures go through multiple stages: In the early stage, there is a business concept and preliminary evidence supporting the concept. In later stages, there are revenues and sales. In each stage, there are usually milestones for the venture to meet in order for investors to provide additional funding. Otherwise, the venture is abandoned. The entrepreneur can engage in a set of costly activities that aim to create value and reach the appropriate milestones. In “New Venture Creation: A Drift-Variance Diffusion Control Model,” Wang and Zenios develop a framework for new venture creation. The authors provide theoretical guidance on the optimal policy, which is relatively simple to describe. Their analysis reveals a trade-off between how costly an activity is and how much upside potential the activity generates, and their result shows how a new venture creator can manage that trade-off.

scholarly journals Quality of Life among Bangladeshi Youth during the Early Stage of the COVID-19 Pandemic: A Single-site Survey

2021 ◽  
pp. 100157
Author(s):  
Somaresh Kumar Mondal ◽  
Abdul Gaffar Khan ◽  
Md. Mamun Ali ◽  
Mir Kaosar Ahamed ◽  
Kawsar Ahmed
Keyword(s):  
Quality Of Life ◽  
Early Stage ◽  
Single Site ◽  
Site Survey

scholarly journals Fast Multi-Focus Fusion Based on Deep Learning for Early-Stage Embryo Image Enhancement

Sensors ◽  
2021 ◽  
Vol 21 (3) ◽  
pp. 863
Author(s):  
Vidas Raudonis ◽  
Agne Paulauskaite-Taraseviciene ◽  
Kristina Sutiene
Keyword(s):  
Deep Learning ◽  
Image Fusion ◽  
Early Stage ◽  
Image Data ◽  
Cell Detection ◽  
Processing Times ◽  
Fused Image ◽  
Stage Embryo ◽  
Early Stage Embryo

Background: Cell detection and counting is of essential importance in evaluating the quality of early-stage embryo. Full automation of this process remains a challenging task due to different cell size, shape, the presence of incomplete cell boundaries, partially or fully overlapping cells. Moreover, the algorithm to be developed should process a large number of image data of different quality in a reasonable amount of time. Methods: Multi-focus image fusion approach based on deep learning U-Net architecture is proposed in the paper, which allows reducing the amount of data up to 7 times without losing spectral information required for embryo enhancement in the microscopic image. Results: The experiment includes the visual and quantitative analysis by estimating the image similarity metrics and processing times, which is compared to the results achieved by two wellknown techniques—Inverse Laplacian Pyramid Transform and Enhanced Correlation Coefficient Maximization. Conclusion: Comparatively, the image fusion time is substantially improved for different image resolutions, whilst ensuring the high quality of the fused image.

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