1,721,291 research outputs found

    Entrepreneurial Team Composition and Strategic Choice: A Configurational Analysis

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    The composition of entrepreneurial teams has a significant impact on the success and development of new ventures. We enrich the discussion on the benefits of homogeneity or diversity in entrepreneurial teams. Using data from PSED II, we investigate the relationship between new venture team (NVT) composition and performance. By identifying six distinct team configurations, we demonstrate that teams need a certain degree of homogeneity, but if a certain threshold is satisfied, heterogeneity can be an advantage. The combination of high team cohesion and a deep and broad stock of experience is a superior configuration, as well as homogeneous teams that are highly educated. We further contribute to a better understanding of start-up strategies and time-to-market by developing new insights in the trade-off between homogeneity and heterogeneity

    Many Roads Lead to Rome: How Human, Social, and Financial Capital Are Related to New Venture Survival

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    Given variance in entrepreneurs’ capital endowments, the question of sufficient (or insufficient) starting conditions enabling a pathway to survival is critical in entrepreneurship. Drawing on the subjectivist theory of entrepreneurship (STE), we adopt a configurational approach. Our results show how combinations of human and social capital are related to survival while overreliance on financial capital is not. From a subjectivist perspective, we reveal a potential gap between identifying and exploiting an opportunity. The findings provide some novel insights that help reframe conflicting results as to whether capital endowments are substitutes or complements

    Make it work - The challenge to diversity in entrepreneurial teams: A configurational perspective

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    Teams and timing are considered decisive for firm survival. We investigate the impact on firm survival of entrepreneurial team composition, in terms of diversity, and the speed of entering markets. Unlike research analysing the effects of low or high diversity, our research understands new venture teams as configurations of multiple, concurrent dimensions of diversity by untangling it in variety, separation, and disparity. By identifying distinct survival and failure configurations, we demonstrate that team va- riety is functional for firm survival if challenged by separation or disparity

    How do non-innovative firms start innovation and build legitimacy? The case of professional service firms

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    As clients’ needs change, firms need to adapt and innovate, but how do firms innovate if they have not done it before? We study law firms as novice innovators. Law firms are generally conservative and averse to exploration-based innovation. We show that law firms face two challenges in starting innovation: developing innovation capacity and gaining legitimacy for innovative behavior. Employing a qualitative comparative analysis approach, we used 50 in-depth interviews with innovating multinational law firms headquartered in the United Kingdom to present six configurations of factors leading to service innovation in law firms. Clients and competitors play a key role both as innovation stimuli and legitimizing actors. We demonstrate that knowledge-based networks are important for service innovation, but legitimizing strategies are important for novice innovators to ensure innovation is recognized, approved, and diffused

    Necessary Conditions and Theory-Method Compatibility in Quantitative Entrepreneurship Research

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    All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial outcomes. A condition is necessary when an entrepreneurial outcome emerges only in the presence or absence of that condition. While a necessary condition does not guarantee the outcome, it makes the outcome possible by virtue of its theoretical necessity. We discuss the philosophical roots and importance of necessary conditions in entrepreneurship. We offer an empirical illustration of necessary condition analysis using founder's experience, a critical concept in entrepreneurship. We argue that theory-method compatibility in entrepreneurship research can be enhanced by explicitly accounting for necessary conditions

    Going Beyond Counting First Authors in Author Co-citation Analysis

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    The present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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