For the better or the worse? The impact of business idea changes on new venture performance and novelty
Burgers, Henri & Sawang, Sukanlaya (2011) For the better or the worse? The impact of business idea changes on new venture performance and novelty. In Maritz, Alex (Ed.) Proceedings of the 8th AGSE International Entrepreneurship Research Exchange, Swinburne University of Technology, Melbourne, Vic, pp. 69-80.
Should new ventures stick to their knitting once they start commercialising or should they engage in frequent changes of their business idea? In this paper we argue that new ventures still need to learn their way in the early phases of commercialisation and that changes are good, but subject to two important contingencies. First is that changes should be aimed at enhancing uniqueness, which in turn enhances new venture performance. Second is that our results show that changes have limited affect on uniqueness and performance for entrepreneurs aiming at maximising opportunities, but that changing the business idea has a significant positive impact for entrepreneurs focusing on minimising losses. Our findings indicate that entrepreneurs aiming at minimising losses may offset their initial disadvantages by engaging in a series of adaptations of the business idea to gain higher performance and a more unique product offering.
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|Item Type:||Conference Paper|
|Keywords:||Business Idea Changes, New Venture , Performance , Novelty|
|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
Current > Schools > School of Management
|Copyright Owner:||Copyright 2011 [please consult the authors]|
|Deposited On:||17 May 2011 09:00|
|Last Modified:||21 May 2011 22:34|
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