Chapter 10: The process of entrepreneurship: a managerial and organizational journey
Helle Neergaard ‘The movement from being an entrepreneur to the next level is really not much different from movement of passionate first head-over-heels love to the mature and enduring love of marriage.’ (Lowell, 1996) INTRODUCTION The process of growth in entrepreneurial ventures has attracted much attention in entrepreneurship research since the early 1970s, indicating that growing a new venture presents a challenge, which warrants continued research effort. Two separate yet related lines of inquiry seem to have dominated. The first focuses on the evolution of new ventures over time; the second on various attributes or characteristics of the entrepreneur, from personality traits over psychological makeup to skills. However, the link between the two has been sparsely investigated and few contributions explicitly link the execution of the managerial role to firm growth and survival. Some stage models of growth suggest in a general way that a move from an entrepreneurial mode to a more professional managerial mode may be advantageous (Kroeger, 1974). However, the linkage between managerial and organizational growth in high-tech entrepreneurial ventures has not been adequately addressed (Novelli and Tullar, 1988), although research on managing new entrepreneurial ventures shows that the attitudes, skills and capabilities involved in successful business initiation may be incompatible with those required for long-run successful management of entrepreneurial firms (DeCarlo and Lyons, 1980). The significant growth in the foundation rates for this type of venture and their vulnerability calls for research into this phenomenon, particularly since the transition from entrepreneur to manager seems to be...
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