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Competence of Top Management Teams and Success of New Technology-Based Firms


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Januar 2008

Beschreibung

Beschreibung

Jan Brinckmann analyzes how competencies of founders of new technology-based firms affect the development of their ventures. The research is grounded in competence-related literature and combines insights from entrepreneurship and management research.

Inhaltsverzeichnis

Fundamental research terms

Theories regarding entrepreneurial and management competencies and the development of new technology-based firms

Empirical evidence concerning competence and the development of new firms

Conceptual framework: Entrepreneurial management competence and its effects on task complexity and the success of new firms

Research process, sample and method

Presentation of the measurement model

Portrait

Dr. Jan Brinckmann promovierte bei Prof. Dr. Hans-Georg Gemünden am Lehrstuhl für Technologie und Innovationsmanagement der Technischen Universität Berlin. Er ist Assistant Professor an der School of Business Admistration der Loyola University Chicago, USA.

Leseprobe

2. Fundamental research terms (p. 10)

In this chapter, the fundamental terms and concepts of the research are explained and defined. The key requisites for this investigation are the notion of "young companies", "management", "teams", "competence", and "company development". This chapter is important to assure a common understanding. Especially terms like management can be misleading in the context of young companies and entrepreneurship. Popular terms like "competence", "management", and "young companies" often have diverse or even conflicting meaning. In this light, the following sections establish the fundament of the subsequent research.

2.1 New technology-based firms

With the rise of the new economy new technology-based firms (NTBF) have gained large public recognition. Media presence was dominated by a few rapidly growing firms. They offered their electronic services to a broad private customer base, became global players within a few years, and achieved spectacular valuations by venture capitalists or at initial public offerings (IPOs). These characteristics have shaped the public perception of NTBFs. Yet, they are misguiding images. The vast majority of NTBFs start small and remain small. The average firm in this study employs about 20 persons after six years.

Only 10-15% of the NTBFs are offering goods or services to consumers, while the rest is almost exclusively dealing with commercial customers. Most of the technology ventures are production-based, developing and marketing products which are enhanced by a service offering. Primarily their technology belongs to the field of information- and communication technology, electronics, mechanical engineering, biotechnology, microtechnology, material science, or optical-technology. Their business fields are characterized by high degree of change and unpredictability.

The average founder of a technology start-up has a high ed
ucational level. 80-90% of the founders in the technology field have received special technological education as part of their bachelor, master, or PhD-studies. This high level of education especially in the executive position of the ventures, is in contrast to the otherwise limited resource dispositions. Due to the nature of an extensive research and development process, which precedes the first significant sales by two to three years, the young technology ventures incorporate financial requirements that generally exceed the possibilities of self-financing or financing via personal savings of the founders.

In general banks offer limited credits to the new ventures due to a lack of viable information and missing collateral. Additionally, most technology ventures do not meet the requirements of venture capitalists or do not want to subject themselves to the demanding conditions of this form of financing. Accordingly, founders depend on personal savings, the limited companys cash-flow, governmental support, and restricted bank credits. This implies significant resource restrictions. Besides the resource restrictions, NTBFs face several characteristic internal and external challenges.

Internally, the founders have to create and refine their products or services, establish a functioning organization, deal with human resource issues, and administrative duties. Externally, they have to deal with the "liability of newness", the "liability of smallness", and general market entry barriers.
EAN: 9783835055032
Untertitel: A Theoretical and Empirical Analysis Concerning Competencies of Entrepreneurial Teams and the Development of Their Ventures. 2008. Auflage. eBook. Sprache: Englisch. Dateigröße in MByte: 2.
Verlag: Deutscher Universitätsverlag
Erscheinungsdatum: Januar 2008
Seitenanzahl: xxiv304
Format: pdf eBook
Kopierschutz: Adobe DRM
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