Why context matters for start-ups' critical success factors

Abstract

Current research in the field of critical success factors of start-ups refers to general factors with which important information about the start-up is lost. Start-ups are too individual for a generalistic assessment, so a novel approach is presented in this paper that allows the context of start-ups to be included in the assessment of critical success factors. This results in the context-based critical success factor, which is defined for the first time in this paper.

Construction of a context-based system using similarity graph analytics on start-ups' critical success factors

“… Previous approaches are mostly based on aggregations of data (see section 5) and are therefore more generalistic. These approaches (not only at the data-analytical level; see also [1]) thus also offer generalistic CSFs that can apply to all start-ups and are thus, in logic, only ever suitable to a certain percentage (a percentage value is difficult to determine here).…”

“…[3] Based on this definition and further definitions the following summary can be stated: "In summary, the context is an abstract model of the parameters that describe an entity. […]" [1] For more information on the term "context", please see [1].…”

“…The CCSF is only valid there." [1] In a nutshell, the difference between a general critical success factor (CSF) is that the CSF is valid in different contexts and is therefore generalistic. This leads to non-specific results as the following example shows:…”

“…"CCSF: 'We understand different technologies in the solar industry as well as cooling systems, and water treatment' ↔ CSF: 'Product Technology'" [1] This CCSF is just valid for this specific context ("Technology for Solar energy") with the respecting parameters that belong to this start-up. The CSF "Product Technology" on the other hand, is generally valid and not context bound.…”

“…In the following paper, the current data models are therefore examined on the basis of their properties, then the current state of research is formed and a data model is developed and presented that incorporates context-based critical success factors (CCSF) [1] and demonstrates a new graphbased approach. This model is finally filled, executed, analysed, and discussed using sample data.…”