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New Venture Performance

Reference: DARDEN-ENT-0074-E
Number of pages: 9
Publication Date: Dec 17, 2007
Source: Darden University of Virginia (USA)
Type of Document: Technical Note

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Description

This note examines the pros and cons of two ways to build new ventures. The former is called causal or predictive, because it depends on accurate predictions and clear goals. The latter is effectual or nonpredictive, and it is extremely stakeholder-dependent and means-driven. It is very tempting to jump to the conclusion that the latter is the better way since it is overwhelmingly preferred by expert entrepreneurs. But is that really so?

Keywords

entrepreneurial decision making failure management new venture failure new venture success serial entrepreneurship