Dynamic capability emergence in the venture creation process

2011 ◽  
Vol 30 (2) ◽  
pp. 138-160 ◽  
Author(s):  
Patricia D. Corner ◽  
Shuyuan Wu
Keyword(s):  
New Ventures ◽  
New Venture ◽  
Dynamic Capability ◽  
Technology Commercialization ◽  
Venture Creation ◽  
Creation Process ◽  
Case Study Design ◽  
Level Change ◽  
Micro Level

This article explores dynamic capability formation in new ventures examining technology commercialization at the microlevel of entrepreneurs’ actions and decisions. The research reflects a longitudinal, qualitative, multi-case study design to build theory. Findings reveal two interdependent micro-level patterns that reflect dynamic entrepreneurial capabilities. First, prospecting problems or the capacity to identify problems in industrial settings that a commercially untried technology might solve. Second, openly sharing technological features with prospective customers in order to jointly design prototype products. Revealing technology helped ensure new venture survival in contrast with conventional wisdom that links firm survival to the insulation and protection of technology. Moreover, micro-level patterns shaped macro-level change in venture/customer dyads and in related customer’ industries.

International Entrepreneurship: Case of Happiest Minds

2012 ◽  
Vol 1 (1) ◽  
pp. 17-30
Author(s):  
Nishant Kumar
Keyword(s):  
International Entrepreneurship ◽  
New Ventures ◽  
New Venture ◽  
International New Ventures ◽  
New Venture Creation ◽  
Venture Creation ◽  
International New Venture ◽  
Research And Practice ◽  
Serial Entrepreneur

An in-depth case study of a successful serial entrepreneur in India and the two international new ventures he founded illustrates the entrepreneurial capabilities that are particularly important for successful international new venture creation. This case study examines in detail how potential international entrepreneurs can develop such capabilities in order to improve their chances of gaining success in international new ventures, and concludes with a discussion of the implications of the authors’ findings for entrepreneurship research and practice.

Entrepreneurial Learning and Innovation

2012 ◽  
pp. 245-263
Author(s):  
Jonas Gabrielsson ◽  
Diamanto Politis
Keyword(s):  
Experiential Learning ◽  
Learning Outcomes ◽  
New Ventures ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Entrepreneurial Learning ◽  
Creation Process ◽  
Career Experience ◽  
Entrepreneurial Knowledge

The relation between entrepreneurial learning and innovation is poorly understood – especially with respect to how entrepreneurs build up their capability to create new ventures. In this chapter we employ arguments from theories of experiential learning to examine the extent to which entrepreneurs’ prior career experience is associated with entrepreneurial knowledge that can be productively used in the new venture creation process. We relate entrepreneurial knowledge to two distinct learning outcomes: the ability to (1) recognize new venture opportunities, and (2) cope with liabilities of newness. Based on analysis of data from 291 Swedish entrepreneurs, we provide novel insights into how and why entrepreneurs differ in their experientially acquired abilities in different phases of the new venture creation process.

scholarly journals The Role of Accelerator Designs in Mitigating Bounded Rationality in New Ventures

2018 ◽  
Vol 64 (4) ◽  
pp. 810-854 ◽  
Author(s):  
Susan L. Cohen ◽  
Christopher B. Bingham ◽  
Benjamin L. Hallen
Keyword(s):  
Bounded Rationality ◽  
New Ventures ◽  
Multiple Case Study ◽  
New Venture ◽  
External Information ◽  
Start Up ◽  
Multiple Case ◽  
Established Firms

Using a nested multiple-case study of participating ventures, directors, and mentors of eight of the original U.S. accelerators, we explore how accelerators’ program designs influence new ventures’ ability to access, interpret, and process the external information needed to survive and grow. Through our inductive process, we illuminate the bounded-rationality challenges that may plague all ventures and entrepreneurs—not just those in accelerators—and identify the particular organizational designs that accelerators use to help address these challenges, which left unabated can result in suboptimal performance or even venture failure. Our analysis revealed three key design choices made by accelerators—(1) whether to space out or concentrate consultations with mentors and customers, (2) whether to foster privacy or transparency between peer ventures participating in the same program, and (3) whether to tailor or standardize the program for each venture—and suggests a particular set of choices is associated with improved venture development. Collectively, our findings provide evidence that bounded rationality challenges new ventures differently than it does established firms. We find that entrepreneurs appear to systematically satisfice prematurely across many decisions and thus broadly benefit from increasing the amount of external information searched, often by reigniting search for problems that they already view as solved. Our study also contributes to research on organizational sponsors by revealing practices that help or hinder new venture development and to emerging research on the lean start-up methodology by suggesting that startups benefit from engaging in deep consultative learning prior to experimentation.

Much More Than Meets the Eye

2021 ◽  
pp. 61-91
Author(s):  
Alexandra França ◽  
Silja Frankenbach ◽  
Vanda Vereb ◽  
Alexandra Vilares ◽  
António Carrizo Moreira
Keyword(s):  
Personal Characteristics ◽  
Individual Characteristics ◽  
New Venture ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Sociological Perspective ◽  
Nascent Entrepreneurship ◽  
Creation Process ◽  
The Way

Nascent entrepreneurship plays an important role in the study of entrepreneurship. It has been studied from different angles, especially from the psychological and sociological perspective as nascent entrepreneurs have distinctive traits and competencies. Other important foci of research are the investigation of the environment in which nascent entrepreneurs operate, as well as the way both the identification and exploitation of entrepreneurial opportunities have emerged. The main objective of this chapter is to address (1) the main individual characteristics that entrepreneurs have in common; (2) the environmental factors contributing to new venture creation; and (3) the steps in the creation process. The chapter departs from the fundamental process of nascent entrepreneurship, which is centered on opportunity recognition, evaluation, and exploitation, and is complemented by the way how contextual factors and personal characteristics and competencies influence the new venture creation process.

Entrepreneurship in the Internet

2011 ◽  
pp. 1405-1411 ◽  
Author(s):  
Christian Serarols-Tarrés
Keyword(s):  
Information Technologies ◽  
New Ventures ◽  
Distribution Channel ◽  
The Internet ◽  
Venture Creation ◽  
Creation Process ◽  
Theoretical Perspectives ◽  
History Of ◽  
The Creation ◽  
The One

The increasing development of information technologies (IT) has significantly affected both firms and markets. IT is currently changing the world in a more permanent and far-reaching way than any other technology in the history of mankind (Carrier, Raymond, & Eltaief, 2004). A new economy, where knowledge is the most important strategic resource, is forcing firms to review their traditional routines and take advantage of the tools able to create new value. Nowadays, there are two types of firms using this new IT. On the one hand, firms with physical presence (traditional companies) use the Internet as a new distribution channel or alternatively as a logical extension of their traditional business. On the other hand, there are dotcoms, Internet start-ups, or cybertraders (European Commission, 1997), which have been specifically conceived to operate in this new environment. A number of scholars have attempted to explain the creation of new ventures from many different theoretical perspectives (economics, psychology, and population ecology among others) and have also offered frameworks for exploring the characteristics of the creation process (Bhave, 1994; Carter, Gartner, & Reynolds, 1996; Gartner, 1985; Shook, Priem, & McGee, 2003; Veciana, 1988; Vesper, 1990; Webster, 1976). However, despite the growing literature in this area, few studies have explored the process of venture creation in dotcom firms. Cyberentrepreneurship is still in its emergent phase, and there is more to know about the phenomenon and the elements of the venture creation process (Carrier et al., 2004; Jiwa, Lavelle, & Rose, 2004; Martin & Wright, 2005). What are the stages they follow to create their firms? This article attempts to answer this question. First, we analyse the entrepreneurial process of a new firm’s creation. Second, we shed some light on how this process is applied by cyberentrepreneurs in starting their businesses based on an in-depth, multiple case study of eight entrepreneurs in Spain.

Entrepreneurial education: an entrepreneurial ecosystem approach

2020 ◽  
pp. 1-21
Author(s):  
Delwyn N. Clark ◽  
Sophie Reboud ◽  
Olivier Toutain ◽  
Valérie Ballereau ◽  
Tim Mazzarol
Keyword(s):  
New Ventures ◽  
Ecosystem Approach ◽  
New Venture ◽  
Entrepreneurial Education ◽  
Academic Unit ◽  
Entrepreneurial Ecosystem ◽  
Macroeconomic Policies ◽  
Local Resources ◽  
Novel Approach

Abstract How can an entrepreneurial education program simultaneously create entrepreneurial knowledge, skills and competencies, as well as new ventures and jobs? This is a particular challenge for universities that are keen to align with government policies and demonstrate impact. Our paper examines a novel approach to enterprise and entrepreneurship education that integrates training/learning with new venture creation by operating as an entrepreneurial ecosystem (EE). We outline a comprehensive EE framework and apply this model using an exploratory case study of an EE centred around an innovative academic unit called The Entrepreneurial Garden (TEG) at Burgundy School of Business in Dijon, France. TEG offers entrepreneurial education, research and new venture development as an integrated portfolio. This analysis shows how an academic unit can be developed as an EE building from local resources and expertise, aligning with macroeconomic policies and priorities, and leveraging partnerships to provide access to other entrepreneurial players, resources and networks.

ICON stores: managing a new business venture

2016 ◽  
Vol 6 (1) ◽  
pp. 1-20
Author(s):  
Waheed Ali Umrani ◽  
Abdul Khaliq Doudpota ◽  
Umair Ahmed
Keyword(s):  
Learning Outcomes ◽  
Subject Area ◽  
New Venture ◽  
Venture Creation ◽  
Entrepreneurial Success ◽  
Content Type ◽  
Creation Process ◽  
Common Practices ◽  
New Business ◽  
The Common

Subject area Entrepreneurship. Study level/applicability Undergraduate – Entrepreneurship. Case overview The case concerns to an entrepreneur named Aamir Ghouri, a US graduate, who is concerned about managing the growth of his newly established venture named ICON Stores. The case presents the idea of entrepreneurial mindset characteristics and motivation besides which, it also explains the typical venture creation process in Pakistan and the general rubrics used to measure the entrepreneurial success in the economy. Expected learning outcomes The case is designed to help students to understand entrepreneurial mindset, characteristics and motivation; to understand entrepreneurial venture creation process; to learn the common practices regarding the measurement of entrepreneurial success of new venture; and to outline as to how growth of a new venture could be managed profitably. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 3: Entrepreneurship.

scholarly journals PRODUCT INNOVATION TOOL ADOPTION BEHAVIOUR IN TECHNOLOGY-BASED NEW VENTURES

2012 ◽  
Vol 16 (03) ◽  
pp. 1240001 ◽  
Author(s):  
GERRIT A. DE WAAL ◽  
PAUL KNOTT
Keyword(s):  
Resource Management ◽  
Problem Solving ◽  
Product Innovation ◽  
New Ventures ◽  
New Venture ◽  
Experienced Team ◽  
Established Firm ◽  
Over Time ◽  
Exclusive Focus

Despite the attention it gives to innovation tools, the product innovation literature does not address the behavioural motivation behind practitioners' adoption of particular tools, or relate this to new venture development. This paper focuses on technology-based new ventures executing their first projects and presents insights into how their innovation tool adoption evolves over time. The paper synthesises case study findings into a hierarchy of tool adoption states encapsulating how new venture teams started with an exclusive focus on effectiveness, and over time progressively attended to problem solving, efficiency, and finally resource management. They often progressed to the next state only in response to costly mistakes and delays, whereas the experienced team in our comparison well-established firm operated within all four states from project initiation. Knowledge of this hierarchy of tool adoption states could help new venture teams to optimise the time they invest in product innovation tools.

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.

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