|Chapter Listing | Return to 1997 Topical Index|
LIMITATIONS AND IMPLICATIONS
A great deal has been made of this data, but its many limitations need to be acknowledged. This is an N of 3 companies, in different developmental phases, each in a different industry. Thus, generalizing across these cases may be difficult if not unsound. Secondly, the data presented were collected at three, four, or five points in time, and the intervals between them varied within and between cases. This again speaks against any clean generalizations of the data. Finally, this qualitative data is broadly analyzed; alternative versions and different interpretations are to be expected.
With those caveats in mind, we identify three implications. From a teaching standpoint, helping students identify resources at particular stages may give them a better chance of success, especially in times of uncertainty and change. Second, from a practitioner standpoint it should be helpful to see that certain combinations of resources may be more useful in certain developmental phases. Identifying and organizing against these resources may lower the risk that entrepreneurs face in going out into the marketplace. Third, even this initial empirical confirmation of the RBT is quite valuable from a theoretical perspective. Yet much more is needed. For example, future research should begin to explore the causes or catalysts of these shifts, and a preliminary understanding is also needed about the speed of change itself. These questions provide leverage for others to build on our empirical formulation.
Amit , R. & Schoemaker, P., 1993. Strategic assets and organizational rent. Strategic Management Journal, 14 (1): 3346.
Barney, J., 1991. Firm resources and sustained competitive advantage. Journal of Management, 17 (1): 99120.
Block, Z. & MacMillan, I, 1991. "Milestones for successful venture planning." in W. Sahlman & H. Stevenson, (Eds)., 1991. The Entrepreneurial Venture. HBS Press.
Brophy, D., 1992. Financing the new venture: A report on recent research. In D. Sexton and J. Kasarda (Eds.), The State of the Art of Entrepreneurship. 387401.
Brush, C. & Greene, P., 1996. Resources in the
new venture creation process: Strategies for
acquisition. Presented at the Natl Academy of
Management Meeting; Cincinatti, OH
Bygrave, 1989. The entrepreneurship paradigm (II): Chaos and catastrophes among quantum jumps. Entrepreneurship Theory and Practice, 14 (2): 730.
Chandler, G. & Hanks, S.H., 1994. Market attractiveness, resourcebased capabilities, venture strategies and venture performance. Journal of Business Venturing, 9: 331349.
Cooper, C., 1981. Strategic management: New ventures and small business. Long Range Planning, 14 (5): 3945.
Dollinger, M. J., 1995. Entrepreneurship: Strategies and
resources. Boston: Irwin.
Eggers, J., Leahy, K. & Churchill, N., 1994. Stages of small busines growth revisited. Frontiers of Entrepreneurial Research, Babson College: 131144.
Gartner, W., 1985. A conceptual framework for describing the phenomenon of new venture creation. Academy of Management Review, 10: 696706.
Gersick, C., 1994. Pacing strategic change: The case of a new venture. Academy of Management Journal, 37: 945.
Glade, W., 1967. Approaches to a theory of entrepreneurial formation. Explorations in Entrepreneurial History, 4: 245259.
Greene, P., Brush, C. & Hart, M., 1997. Resources in new ventures: Dimensions and a typology. (Under review).
Hanks, S., Watson, C., Jansen, E., & Chandler, G., 1994. "Tightening the lifecycle construct: A taxonomic study of growth stage configurations in hightechnoloogy organizations." Entrepreneurship Theory and Practice, 18 (2): 529.
Katz, J., 1993. "The dynamics of organizational emergence: A contemporary group formation perspective." Entrepreneruship Theory and Practice, (Winter): 97101.
Lichtenstein, B., 1996. "Dynamics of structural transformation in entreprneuerial firms." Presented at the Society of Chaos in Psychology and the Life Sciences; Berkeley, CA.
Mosekowski, E., 1993. "A resourcebased perspective on the dynamic strategy perforance relationship: An empirical examination." Journal of Management, 19 (4): 819839.
Penrose, E, 1959. "The Theory of Growth of the Firm. NY: John Wiley & Sons.
Schumpeter, J. 1934/1959. The Theory of Economic Development. Harvard Univ. Press.
Stake, R., 1994. "Case Studies." in Denzin, N. & Lincoln, Y., (Eds.), Handbook of Qualitative Studies. Newbury Park, CA: SAGE.
Stevenson, H. & Gumpert, D., 1985. "The heart of entrepreneurship." Harvard Business Review,, (AprMay): 8594.
Tomer, J., 1987. Organizational Capital. N.Y.: Praeger.
Tushman, M. & Romanelli, E., 1985. "Organizational evolution: A metamorphosis model of convergence and reorientation." Research in Organizational Behavior, 7: 171122.
Van de Ven, A., & Poole, M.S., 1995. "Explaining development and change in organizations." Academy of management Review, 20: 510540.
Wollin, A. 1996. "A hierarchybased
approach to punctuated equilibrium." Presented at the
INFORMS National Meeting; Conference on the Application of
Complexity Theory to Organization Science. Atlanta, GA.
|Top of page | Chapter Listing | Return to 1997 Topical Index|
© 1997 Babson College All Rights Reserved
Last Updated 06/01/98