The Impact of Knowledge Resources on New Venture Performance

22 Pages Posted: 2 Jan 2009

See all articles by G. Page West

G. Page West

Wake Forest University

Terry W. Noel

California State University, Chico - Center for Entrepreneurship

Abstract

A new venture's strategy - and thus its performance - is based upon the knowledge the firm has about its market, its opportunity in that market, and its appropriate conduct to take advantage of that opportunity. Resource-based theory underscores knowledge as a type of resource that confers competitive advantage and the potential for sustainability, two factors that are critical for start-ups. Three types of procedural knowledge are considered to be important at start-up: (1) about the industry in which the venture competes; (2) about the type of business approach the venture is pursuing; and (3) about creating, building, and harvesting new ventures. Knowledge useful to the new venture is developed either through relevant personal experiences or by accessing relevant knowledge possessed by others. Hypotheses are developed regarding the impact on the performance of new ventures as a result of these sources of knowledge, and these relationships are explored in a study of new technology-based firms.

Suggested Citation

West, G. Page and Noel, Terry W., The Impact of Knowledge Resources on New Venture Performance. Journal of Small Business Management, Vol. 47, Issue 1, pp. 1-22, January 2009. Available at SSRN: https://ssrn.com/abstract=1320706 or http://dx.doi.org/10.1111/j.1540-627X.2008.00259.x

G. Page West (Contact Author)

Wake Forest University ( email )

School of Business
1834 Wake Forest Road
Winston-Salem, NC 27106
United States

Terry W. Noel

California State University, Chico - Center for Entrepreneurship ( email )

United States

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