Learning and Adaptation in the Business Creation Process
This report focuses on NFs and YFs who have 'survived' the three years of the CAUSEE study. Given the time extended view taken by a longitudinal study, a number of firms who were included in year one have subsequently exited in year two and year three. In order for our comparisons to be valid, we have only included those firms who are 'survivors' at year three. Additionally, this report has not included the learning and adaptation behaviour of the high potential over sample group. This year marks the completion of data collection for year three (Wave 3) of the CAUSEE study. This report uses data from the first three years and focuses on the process of learning and adaptation in the business creation process. Most start-ups need to change their business model, their product, their marketing plan, their market or something else about the business to be successful. PayPal changed their product at least five times, moving from handheld security, to enterprise apps, to consumer apps, to a digital wallet, to payments between handhelds before finally stumbling on the model that made them a multi-billion dollar company revolving around email-based payments. PayPal is not alone and anecdotes abound of start-ups changing direction: Symantec started as an artificial intelligence company, Apple started selling plans to build computers and Microsoft tried to peddle compilers before licensing an operating system out of New Mexico. To what extent do Australian new ventures change and adapt as their ideas and business develop? As a longitudinal study, CAUSEE was designed specifically to observe development in the venture creation process. In this research briefing paper, we compare development over time of randomly sampled Nascent Firms (NF) and Young Firms (YF), concentrating on the surviving cases (203 NFs and 296 YFs). We also compare NFs with YFs at each yearly interval.
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|Additional Information:||Industry Partners: Australian Research Council, NAB, BDO|
|Keywords:||Wave 3 of CAUSEE Study, small, medium and large firms, founder aspiration|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Entrepreneurship (150304)|
|Divisions:||Current > Research Centres > Australian Centre for Entrepreneurship|
Current > QUT Faculties and Divisions > QUT Business School
|Deposited On:||15 Nov 2010 15:55|
|Last Modified:||06 Jan 2011 00:01|
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