Understanding Four Types of Ventures
Chapter 11: Why all ventures matter: toward a portfolio perspective
The relative contributions of each of the four venture types are assessed. Relationships and interdependencies among the four types are investigated and the disproportionate benefits produced by aggressive growth ventures are tied to these interdependencies. A series of arguments are presented regarding the need to encourage all four types of ventures. Based on these arguments, the adoption of a portfolio perspective is advocated. As with a financial portfolio, risks and returns to society will be maximized when there is a balance across the portfolio of ventures. Implications are drawn for venture portfolios that are unbalanced, or over-emphasize a particular type of venture.
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