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Article
Publication date: 1 December 2005

Joey Tamer

Presents a detailed overview of the challenges of creating new ventures within established corporations, and offers success strategies for overcoming these challenges. The author…

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Abstract

Presents a detailed overview of the challenges of creating new ventures within established corporations, and offers success strategies for overcoming these challenges. The author outlines her experience from more than 25 years of consulting to new ventures, independent of and within corporate structures, including many within Fortune 500 companies. Several case studies of successful and unsuccessful ventures are described, including successful ventures that were later closed down by the corporation. Tamer offers explanations for the outcome of each venture. Findings include strategies to ensure the success of a new venture within a corporation: defining capital strategies (including start‐up and exit strategies that create profitable new divisions, and/or create spin‐off companies that bring a return on investment to the corporation); aligning the new venture with corporate goals; maintaining corporate commitment to the new venture; engaging outside experts; and creating strategic alliances inside and outside of the corporation. The strategies presented will help corporations build successful in‐house ventures which can extend the corporation’s market reach, leverage existing assets for increased profitability, or create new companies with a high return on investment. Top management, corporate strategic planners, and heads of newly‐formed divisions will find a blueprint for avoiding classic errors, anticipating obstacles to success, and applying strategies that create profitable new corporate ventures.

Details

Handbook of Business Strategy, vol. 6 no. 1
Type: Research Article
ISSN: 1077-5730

Keywords

Article
Publication date: 28 February 2024

Misbah Faiz, Naukhez Sarwar, Adeel Tariq and Mumtaz Ali Memon

Research has shown that business model innovation can facilitate most ventures to innovate and remain competitive, yet there has been limited work on how digital leadership…

Abstract

Purpose

Research has shown that business model innovation can facilitate most ventures to innovate and remain competitive, yet there has been limited work on how digital leadership capabilities influence business model innovation. Building on the dynamic capabilities view, we address this gap by linking digital leadership capabilities with business model innovation via managerial decision-making through provision of grants received by new ventures.

Design/methodology/approach

The study is cross-sectional research. Data have been collected utilizing purposive sampling from 313 founding members of new ventures in high-velocity markets, i.e. from Pakistan. SPSS has been used to conduct the moderated mediation analysis.

Findings

Digital leadership capabilities foster the business model innovation of the new ventures because they enable new ventures to capitalize on digital technologies and create new ways of generating value for the customers and themselves. Moreover, managerial decision-making mediates digital leadership capabilities and business model innovation relationship, whereas, grants moderate the indirect positive effect of digital leadership capabilities on business model innovation via managerial decision-making. The study generates initial evidence on the impact of digital leadership capabilities on business model innovation via managerial decision-making for new ventures. We advance knowledge on new ventures’ business model innovation by deep-diving into dynamic capabilities view and emphasizing digital leadership capabilities as a significant driver for business model innovation.

Originality/value

With the help of dynamic capabilities theory, this study analyzes how new ventures make use of digital leadership capabilities to promote business model innovation.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Book part
Publication date: 15 July 2020

Kun Zhang, Jeffrey J. Reuer and Francisco Morales

Strategy and entrepreneurship scholars have identified many benefits of signaling for new ventures to access resources in financial and other factor markets. However, scholars…

Abstract

Strategy and entrepreneurship scholars have identified many benefits of signaling for new ventures to access resources in financial and other factor markets. However, scholars have not studied the extent to which new ventures can employ signals to hire new talent. This chapter investigates inventor mobility across biopharmaceutical new ventures and examines the effects of two signals, venture capitalist (VC) prominence and alliance network prominence. We suggest that VC prominence and alliance network prominence can provide assurances to prospective employees about a venture's resources and prospects, thereby facilitating inventor mobility owing to enhanced labor market efficiency. Empirical evidence from biopharmaceutical startups shows that new ventures can benefit from signals emanating from their ties to VCs and alliance partners and attract inventors to join them. We also find that these signaling effects attenuate as information asymmetry diminishes.

Details

Employee Inter- and Intra-Firm Mobility
Type: Book
ISBN: 978-1-78973-550-5

Article
Publication date: 17 November 2023

Ayna Yusubova and Joris Knoben

Entrepreneurial support programs, like incubators and accelerators, often offer mentorship to new ventures. However, existing research on mentoring has mainly focused on the…

Abstract

Purpose

Entrepreneurial support programs, like incubators and accelerators, often offer mentorship to new ventures. However, existing research on mentoring has mainly focused on the entrepreneur's perspective, leaving researchers with limited understanding of why experienced mentors provide support to new ventures. This study aimed to explore mentors' motives in mentor–venture relationships and their impact on the advisory process. It also examined different types of mentors (social and commercial) and their motivations for assisting and supporting new ventures.

Design/methodology/approach

The present study utilizes a qualitative research approach to investigate the motivations and mechanisms through which new venture mentors assist founders in their growth and success. In-depth interviews were conducted with 18 mentors supporting both social and commercial ventures. These mentors were selected from ten accelerator and incubator programs situated in Belgium. The interviews aimed to gain insights into the mentors' motivations and their experiences in the role of mentors.

Findings

Based on the social exchange theory and the norm of reciprocity, this study identified two main motives of mentors: “gaining back” reflecting mentors’ self-interest in deriving benefits from the relationship and “paying back” representing their altruistic reasons for supporting new ventures. Additionally, the study identified mentor functions that primarily involved providing career-related support to new ventures. Moreover, the research revealed intriguing similarities and differences in the motivations and mentoring functions between mentors of social and commercial ventures.

Research limitations/implications

Future research should explore the evaluation process and criteria used by mentors and new ventures when selecting each other for a productive mentoring relationship. Additionally, further investigation is needed to examine the firm-level impact of various mentoring services on the performance of social and commercial new ventures at different stages of development. Comparing mentor motives and functions across diverse geographical settings would address the limitation of the study and provide a more comprehensive understanding of the topic.

Practical implications

The findings of the study can inform policymakers, accelerator and incubator program managers and new ventures seeking mentors and support initiatives. They can use the insights to design effective mentoring programs that align with the specific needs and motivations of mentors and new ventures. Understanding the different motives and functions of mentors can help in the selection of appropriate mentors who can provide the necessary support and expertise to new ventures.

Social implications

The study highlights the importance of mentorship in the development of entrepreneurial ecosystems. Accelerator and incubator programs play a crucial role in connecting new ventures with mentors who have the right motivation and expertise, contributing to the growth and success of new ventures and the overall entrepreneurial ecosystem. By identifying both altruistic and self-interest motivations in mentoring relationships, the study emphasizes the dual dimensions that characterize the mentor–venture relationship. This understanding can foster stronger collaborations and reciprocal exchanges between mentors and new ventures, ultimately benefiting both parties.

Originality/value

This research contributes to the entrepreneurship literature by exploring the mentor–new venture relationship from mentors' perspective. It expands the existing research on mentor–protégé relationships, broadening the understanding of mentoring dynamics in different organizational settings. The findings offer insights grounded in social exchange theory and provide directions for future research on mentor–venture relationships, resource exchange and relationship development. The study also holds practical implications for policymakers and program managers involved in fostering mentoring initiatives for new ventures.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Book part
Publication date: 17 August 2017

Malena I. Havenvid and Antonella La Rocca

This chapter explores the issue of an outsider entering an existing business network in an interactive, interdependent and interconnected business world. Developing the new venture

Abstract

This chapter explores the issue of an outsider entering an existing business network in an interactive, interdependent and interconnected business world. Developing the new venture appears a ‘mission impossible’ as the new venture has no relationship in the relevant network or a tenuous one at best. The critical issue and major difficulty for the new company are to make established business actors perceive that there are good reasons to admit the new venture into the existing business network. The fate of the new venture, its acceptance by at least some other business actors, will largely depend on how the incumbents perceive the new company to affect their existing relational assets which result from past investments. In attempting to become a new node of a business relationship, the ‘management’ of the new venture has to address two issues. First, it has to find some actors interested in relating to the new venture and to engage them in developing the initial business relationships. Second, the new venture has to manage the networking that is combining the initial relationships with each other. The authors identify and discuss six spaces for action for new business ventures related to these two challenges.

Book part
Publication date: 12 September 2003

Per Davidsson

There is progress in entrepreneurship research. Important works in entrepreneurship increasingly appear in highly respected, mainstream journals (see Busenitz et al., 2003;…

Abstract

There is progress in entrepreneurship research. Important works in entrepreneurship increasingly appear in highly respected, mainstream journals (see Busenitz et al., 2003; Davidsson, Low & Wright, 2001). There is conceptual development that attracts attention (e.g. Shane & Venkataraman, 2000) and handbooks are compiled, providing the field with more of a common body of knowledge (Acs & Audretsch, 2003a; Shane, 2000a; Westhead & Wright, 2000). Further, there is evidence of methodological improvements (Chandler & Lyon, 2001) and accumulation of meaningful findings on various levels of analysis (Davidsson & Wiklund, 2001). Moreover, due to time lags in publication the reported improvements are likely to be underestimated. This author’s experience as organizer, reviewer and participant in core entrepreneurship conferences on both sides of the Atlantic (e.g. Babson; RENT) suggests that much of the lower end of the quality distribution has either disappeared from the submissions or is screened out in the review process. Much more than used to be the case a few years back we find among the presented papers research that is truly theory-driven; research on the earliest stages of business development, and research that employs methods suitable for causal inference, i.e. experiments and longitudinal designs.

Details

Cognitive Approaches to Entrepreneurship Research
Type: Book
ISBN: 978-1-84950-236-8

Article
Publication date: 4 April 2016

Runping Guo, Li Cai and Weiyong Zhang

Research on new internet venture growth is lacking. The purpose of this paper is to address the gap by developing and testing a theoretical model that links venturing principles…

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Abstract

Purpose

Research on new internet venture growth is lacking. The purpose of this paper is to address the gap by developing and testing a theoretical model that links venturing principles (effectuation or causation) to new internet venture growth through resource bundling (pioneering or stabilizing).

Design/methodology/approach

The proposed theoretical model is developed upon the entrepreneurship literature and resource-based view. Empirical data are collected from entrepreneurs and top executives in China via a survey. The Baron and Kenny (1986) mediation model assessment procedure is used to analyze the data.

Findings

Both effectuation and causation are positively associated with new internet venture growth. Effectuation leads to pioneering resource bundling, which in turn contributes to new internet venture growth. Causation also contributes to new internet venture growth, but through stabilizing resource bundling.

Research limitations/implications

This research helps link the theory of effectuation to resource-based theory by revealing resource bundling as the mediator between effectuation, causation, and new venture growth. Moreover, the authors provide empirical evidence of the importance of resource bundling with entrepreneurial strategic decision logics to the growth of new internet ventures in transitional economies.

Practical implications

Entrepreneurs and managers of new internet ventures should leverage both venturing principles to support growth. Internet ventures generally are creative and innovative in nature, hence favor effectuation. But it will be unwise to ignore causation, which also leads to growth.

Originality/value

This is an original empirical research guided by theories. It is a novel insight to identify the mediating effect of resource bundling. This study likely will inspire more scholarly research on the subject. It also lays a solid foundation for further inquiry such as complementarities between effectuation and causation.

Details

Internet Research, vol. 26 no. 2
Type: Research Article
ISSN: 1066-2243

Keywords

Article
Publication date: 5 March 2018

Lúcia Pato and Aurora Amélia Castro Teixeira

The purpose of this study is to determine whether new rural ventures represent effective rural entrepreneurship or are just entrepreneurial ventures located in rural settings.

Abstract

Purpose

The purpose of this study is to determine whether new rural ventures represent effective rural entrepreneurship or are just entrepreneurial ventures located in rural settings.

Design\methodology\approach

Data were collected from a direct questionnaire involving 408 new ventures headquartered in Portuguese business incubators and science parks, of which 142 are located in rural areas. To analyse data, the authors performed a preliminary and exploratory statistical analysis.

Findings

The authors demonstrate that only a small percentage of ventures operating in rural areas constitute examples of effective “rural entrepreneurship”, with the bulk of them being just enterprises located in rural settings. Rural new ventures tend to be small (in terms of employees and turnover), rely mainly on the internal market and lag behind other new ventures (located in both rural and urban municipalities) in terms of performance.

Research limitations/implications

The study only includes new knowledge-intensive ventures, that is, those headquartered in business incubators and science parks. Therefore, it cannot be generalised to other new ventures located in rural settings.

Originality/value

The extant literature on entrepreneurship has neglected the empirical implications of mixing, confounding and/or merging the concepts of “rural entrepreneurship” and “entrepreneurship activities in rural areas”. In this study, the authors discuss and analyse the empirical boundaries of such concepts and uncover the magnitude of pure “rural entrepreneurship”.

Details

Journal of Place Management and Development, vol. 11 no. 1
Type: Research Article
ISSN: 1753-8335

Keywords

Article
Publication date: 17 March 2021

Wenhong Zhao, Wenwei Zhang and Chengli Shu

Social network theory emphasizes that, to acquire needed resources, new ventures should cultivate industrial connections (intra-industry ties and extra-industry ties). In the…

Abstract

Purpose

Social network theory emphasizes that, to acquire needed resources, new ventures should cultivate industrial connections (intra-industry ties and extra-industry ties). In the meanwhile human capital theory focuses on entrepreneurs' employment experience, especially with respect to its breadth and depth. This study examines ties and experience to determine whether, in combination, they have positive or negative effects on resource acquisition in new ventures.

Design/methodology/approach

This study tests research hypotheses using questionnaire survey data with a sample of entrepreneurs in new ventures. Multivariate regression analysis is used to analyze the data.

Findings

Combining intra-industry ties and experience breadth or extra-industry ties and experience depth affects resource acquisition positively, whereas combining intra-industry ties and experience depth or extra-industry ties and experience breadth affects resource acquisition negatively.

Research limitations/implications

Conclusions may be constrained by the limited sample size and source. Rather, the impact of the study lies in its identification of the effects of interaction between network ties and entrepreneurs' experience on resource acquisition. Future research can explore the effects of interaction between other dimensions of network ties and a range of entrepreneurs' experience characteristics on resource acquisition.

Practical implications

Entrepreneurs are provided with effective strategies to make use of their ventures' network ties and their personal accumulated experience in the process of obtaining resources.

Originality/value

The findings enrich the entrepreneurship literature by providing a more nuanced understanding of how and when new ventures' industry ties and entrepreneurs' employment experience together influence resource acquisition.

Details

Management Decision, vol. 59 no. 12
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 22 January 2018

Karen Williams Middleton and Pamela Nowell

Effective internal dynamics of new venture teams is seen as a key contributor to venture success. The purpose of this paper is to investigate the ways in which new venture teams…

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Abstract

Purpose

Effective internal dynamics of new venture teams is seen as a key contributor to venture success. The purpose of this paper is to investigate the ways in which new venture teams consisting of nascent entrepreneurs initiate trust and control during venture emergence.

Design/methodology/approach

Dimensions of trust and control are developed into an analytical framework applied to documented team norms. Coding detects frequency of trust and control dimensions. Supplementary data triangulate findings and explore follow-on effects in team dynamics and venture emergence.

Findings

Frequency of coded dimensions generates a venture team profile. Teams prime their dynamics through use of trust and/or control language in documented norms. Priming is seen to influence entrepreneurial perseverance during venture emergence, stemming either directly from team dynamics, or indirectly from key shareholder relationships or environmental conditions.

Research limitations/implications

Data are bounded to a specific contextual setting representing incubation and education, where the nascent entrepreneurs are simultaneously students. The complexity of venture emergence means that multiple factors influencing new venture teams may influence trust and control in ways currently unaccounted for.

Practical implications

Exploration of trust and control during venture emergence emphasizes soft-skills critical to entrepreneurial perseverance and venture success. Team norms can be designed to prime toward trust or control, and can be indicative of teams’ sensitivity to external factors, enabling evidence for intervention.

Originality/value

The paper illustrates ways in which trust and control influence team dynamics during venture emergence.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 24 no. 4
Type: Research Article
ISSN: 1355-2554

Keywords

1 – 10 of over 56000