A Multidimensional Model of Venture Growth

Posted: 1 Dec 2009

See all articles by Ken Smith

Ken Smith

affiliation not provided to SSRN

J. Robert Baum

affiliation not provided to SSRN

Edwin A Locke

University of Oxford

Date Written: 2001

Abstract

An integrated model of venture growth isdeveloped based on management theory, organizational behavior theory,organization theory, and entrepreneurship models. The model is tested by gathering responses from 307 companies from the architectural wood working industry. Five research domains are identified as antecedents to venture performance: personality traits and general motives, personal competencies, situationally specific motivation, competitive strategies, and the business environment. Goals of the research are: (1) to test whether a multi-level model that sampled relevant concepts from individual, organizational, and environmental domains would predict firm performance successfully; (2) to test whether each domainwould contribute something to the prediction, and (3) to explore alternativeforms of the relationship among the domains and performance. Findings indicate that individual, organizational, and environmental research domains predict venture growth better when the connection of complex indirect relationships among them is included than when only multiple simultaneous direct effects are studied. In addition, it is found that all the domains enter into the prediction of venture growth when these total effects are considered, indicating that venture growth cannot be adequately explained from a single perspective. (JSD)

Keywords: Architectural woodworking industry, Psychological traits, Business conditions, Firm growth, Chief executive officers (CEOs), Skills, Growth strategies, Firm performance

Suggested Citation

Smith, Ken and Baum, J. Robert and Locke, Edwin A, A Multidimensional Model of Venture Growth (2001). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, Available at SSRN: https://ssrn.com/abstract=1513769

Ken Smith

affiliation not provided to SSRN

J. Robert Baum

affiliation not provided to SSRN ( email )

No Address Available

Edwin A Locke

University of Oxford ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

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