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Routines of New Venture Conceptualization: Evidence and Extension of an Entrepreneurial Dynamic Capability

Ladd, Edward (Ted)

Abstract Details

2015, Doctor of Philosophy, Case Western Reserve University, Management.
A dynamic capability consists of routines to reconfigure resources to improve venture performance in a rapidly changing marketplace. Entrepreneurs adopt different routines to collect and interpret new information during the design of a venture concept. One such routine entails generating and testing hypotheses of a business model. This five-phase research stream employs sequential mixed methods to analyze the efficacy, antecedent, and boundary conditions of an entrepreneurial dynamic capability within a cleantech accelerator program. Overall, the study finds mixed support for contemporary routines of venture conceptualization. Teams that validate hypotheses create ventures that perform better. However, a larger number of validated hypotheses does not result in significantly better venture performance. Simple use of the Business Model Canvas does not improve venture success. However, validation of hypotheses simultaneously across a group of key elements – customer segmentation, value proposition and channels – does improve performance. Flexible customer conversations generate more success as a mechanism to collect evidence during hypothesis testing than formal experiments. Yet, contrary to extant literature, these two activities are not always complementary; in this sample, they are substitutive in that the use of both activities reduces the likelihood of success. Only the trait of conscientiousness within the leader of an entrepreneurial team is a significant microfoundational antecedent to its use of experiments. None of the other Big Five traits or a predilection for improvisation is a significant antecedent, implying that these routines are available to any type of entrepreneur. Practicing entrepreneurs adopt an alternative framework for a business model, incorporating the intended customers’ pre-existing habits, mental models and product constellations, thereby embedding the resulting venture more deeply into the context of the marketplace. An amended routine during conceptualization focusing on customer conversations to validate hypotheses within a few portions of the business model forms an entrepreneurial dynamic capability that improves the likelihood of eventual venture success. Additional research would resolve some of the limitations of this research stream and further bridge the literature of entrepreneurship and corporate strategy.
Kalle Lyytinen (Committee Chair)
213 p.

Recommended Citations

Citations

  • Ladd, E. (2015). Routines of New Venture Conceptualization: Evidence and Extension of an Entrepreneurial Dynamic Capability [Doctoral dissertation, Case Western Reserve University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=case1453393927

    APA Style (7th edition)

  • Ladd, Edward. Routines of New Venture Conceptualization: Evidence and Extension of an Entrepreneurial Dynamic Capability. 2015. Case Western Reserve University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=case1453393927.

    MLA Style (8th edition)

  • Ladd, Edward. "Routines of New Venture Conceptualization: Evidence and Extension of an Entrepreneurial Dynamic Capability." Doctoral dissertation, Case Western Reserve University, 2015. http://rave.ohiolink.edu/etdc/view?acc_num=case1453393927

    Chicago Manual of Style (17th edition)