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

Linder, Christian; Lechner, Christian; Pelzel, Frank

doi:10.1177/1042258719867558

Cited by 77 publications

(57 citation statements)

References 84 publications

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“…Educational background reflects entrepreneurs' ability of learning [9], and the uncertainty of entrepreneurship requires entrepreneurs to have the ability to learning [10]. Viewed as a critical influencing factor of financing, higher-level education is significantly associated with better performance [11].…”

Section: 4the Moderating Role Of Educational Backgroundmentioning

confidence: 99%

Research on Financial Institution Relationship and Performance of Startups

Chen¹,

Wang²,

Xie³

2021

Proceedings of the 2021 International Conference on Enterprise Management and Economic Development (ICEMED 2021)

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Section: 4the Moderating Role Of Educational Backgroundmentioning

confidence: 99%

Research on Financial Institution Relationship and Performance of Startups

Chen¹,

Wang²,

Xie³

2021

Proceedings of the 2021 International Conference on Enterprise Management and Economic Development (ICEMED 2021)

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“…The feasibility analysis follows immediately from the opportunity recognition (Linder et al, 2019). Opportunity recognition is the first step in the entrepreneurial process (Baron, 2006), and is generally associated with three related aspects: active search, personal alertness and prior entrepreneur knowledge including life experience (Ardichvili et al, 2003;Shane, 2000).…”

Section: Traditional Feasibility Analysismentioning

confidence: 99%

Adding a strategic lens to feasibility analysis

Berry

Shabana

2020

NEJE

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PurposeTraditional feasibility analysis is focused on the immediate and urgent needs of a new venture start-up. All four parts of the feasibility analysis (product/service, industry/market, organizational, and financial) are valuable and essential, but what is missed is a part that provided attention to the longer-term requirements for success and sustainability. A fifth strategic feasibility analysis is needed, focused on the long-term sustainability of the new venture. This strategic/contingent context-dependency lens considers the organization's long-term survival, confirming that organizational success depends on the new venture's ability to emphasize its uniqueness and fit with its external environment.Design/methodology/approachThis paper takes advantage of the decades-long literature review in Strategy to combine known data with entrepreneurial practice in undertaking the feasibility analysis.FindingsThis enhanced feasibility analysis adds a strategic lens beyond the traditional four-part feasibility analysis, resulting in identifiable value-added benefits and awareness of potential opportunities or threats in the longer term.Research limitations/implicationsThis research is conceptual and theoretical at this point, without field implementation.Practical implicationsNew venture failure is an ongoing concern for many. This suggested strategic lens, especially the sustainability aspect (beyond the “what-do-we-need-to-do-to-open-the-doors” of much feasibility analysis) may prove very useful. Competitive advantage is examined in the traditional feasibility analysis, but this strategic lens suggests a longer term examination, and engages with competitor response.Social implicationsIf adopted, this enhanced analysis may lead to greater success for new venture start-ups, thus less wasted time, energy and money.Originality/valueThis is the first attempt at adding a focused strategic lens to the traditional entrepreneurial feasibility analysis. This may seem like a simple and elementary shift of perspective, but the implications are huge, and take advantage of the decades-long research stream in strategic thinking and planning.

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“…in Peruvian context entrepreneurial capital, constituted by the monetary and nonmonetary resources that allow financing the operation of the venture (Robb and Robinson, 2014;Sathaworawong et al, 2018). Some of these resources, such as human capital, social capital and entrepreneurial capital are related to each other (Coleman, 2000;Miloud et al, 2012;Linder et al, 2020). Thus, startups in the initial stages use a combination of organizational resources that are scarce to them and applying their dynamic capabilities, they leave aside resources that are essential for consolidated companies, creating value from their limitations (Baker and Nelson, 2005).…”

Section: Survival Of Startups Firmsmentioning

confidence: 99%

Organizational resources and survival of startups firms – a qualitative analysis in the Peruvian context

Alvarez-Salazar

2020

ARLA

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PurposeThe purpose of this paper is to use a combination of resource-based theory and dynamic capabilities theory to explore the phenomenon of startup survival in an emerging entrepreneurial ecosystem.Design/methodology/approachThe study has a phenomenological research design, with an exploratory scope and qualitative approach. It uses in-depth interviews to identify the perceptions of ecosystem agents about the phenomenon of survival.FindingsThis paper argues that startup survival should be studied as a construct that is reflected by four conditions: break-even point, accelerated growth, cash stock and continuous operation. Furthermore, it is formed by the interaction of five mainly interacting resources: human capital, social capital, entrepreneurial capital, organizational capital and the incubation process.Originality/valueThe study offers a holistic model of survival that could be applicable to incipient entrepreneurial ecosystems such as the Peruvian one. This model presents survival as a reflexive-formative construct and not as a dichotomic variable (enterprise operating/enterprise closed) as has been commonly considered in the literature.

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

Cited by 77 publications

References 84 publications

Research on Financial Institution Relationship and Performance of Startups

Research on Financial Institution Relationship and Performance of Startups

Adding a strategic lens to feasibility analysis

Organizational resources and survival of startups firms – a qualitative analysis in the Peruvian context

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