From Minds to Markets: How Human Capital Endowments Shape Market Opportunity Identification of Technology Start-Ups

Journal of Management

Volumn 38, Issue 5, 2012, Pages 1421-1449

  Gruber, Marc ^a   MacMillan, Ian C ^b   Thompson, James D ^b  

^a EPFL   (Switzerland)

^b UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

market opportunities; new firm creation; organizational habitat selection; Penrose's theory of firm growth; resource based view

Indexed keywords

EID: 84864594153     PISSN: 01492063     EISSN: 15571211     Source Type: Journal    
DOI: 10.1177/0149206310386228     Document Type: Article

References (101)

1. Abell D. F.Defining the business: The starting point of strategic planning. Englewood Cliffs, NJ: Prentice-Hall; 1980:.
2. Adelson B.Problem solving and the development of abstract categories in programming languages.Memory and Cognition. 1981;9:422-433.
3. Afuah A.Mapping technological capabilities into product markets and competitive advantage: The case of cholesterol drugs.Strategic Management Journal. 2002;23:171-179.
4. Alvarez S. A.,Busenitz L. W.The entrepreneurship of resource-based theory.Journal of Management. 2001;27:755-775.
5. Amit R.,Brander J.,Zott C.Why do venture capital firms exist? Theory and Canadian evidence.Journal of Business Venturing. 1998;13:441-466.
6. Amit R.,Schoemaker P. J. H.Strategic assets and organizational rent.Strategic Management Journal. 1993;14:33-46.
7. Armstrong J. S.,Overton T. S.Estimating nonresponse bias in mail surveys.Journal of Marketing Research. 1977;24:396-402.
8. Bantel K. A.,Jackson S. E.Top management and innovations in banking: Does the composition of the top team make a difference.Strategic Management Journal. 1989;10:107-124.
9. Barney J. B.Firm resources and sustained competitive advantage.Journal of Management. 1991;17:99-120.
10. Baron J. N.,Burton M. D.,Hannan M. T.The road taken: Origins and evolution of employment systems in emerging companies.Industrial and Corporate Change. 1999;5:239-275.
11. Baron R. A.,Ensley M.Opportunity recognition as the detection of meaningful patterns: Evidence from comparisons of novice and experienced entrepreneurs.Management Science. 2006;52:1331-1344.
12. Beckman C. M.,Burton D. M.,O'Reilly C.Early teams: The impact of team demography on VC financing and going public.Journal of Business Venturing. 2007;22:147-173.
13. Block W. M.,Brennan L. A.Power D. M., ed. Current ornithology New York: Plenum; 1993:35-91.
14. Bowman E. H.,Hurry D.Strategy through the option lens: An integrated view of resource investments and the incremental-choice process.Academy of Management Review. 1993;18:760-782.
15. Busenitz L.,Barney J.Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making.Journal of Business Venturing. 1997;12:9-30.
16. Cooper A. C.,Folta T. B.,Woo C. Y.Entrepreneurial information search.Journal of Business Venturing. 1995;10:107-120.
17. Danneels E.The dynamics of product innovation and firm competences.Strategic Management Journal. 2002;23:1095-1121.
18. Danneels E.Tight-loose coupling with customers: The enactment of customer orientation.Strategic Management Journal. 2003;24:559-576.
19. Danneels E.The process of technological competence leveraging.Strategic Management Journal. 2007;28:511-533.
20. Dearborn D. W. C.,Simon H. A.Selective perception: A note on the departmental affiliations of executives.Sociometry. 1958;21:144-150.
21. Dimov D.Beyond the single-person, single-insight attribution in understanding entrepreneurial opportunities.Entrepreneurship Theory and Practice. 2007;31:713-731.
22. Dixit A. K.,Pindyck R. S.Investment under uncertainty. Princeton, NJ: Princeton University Press; 1994:.
23. Dougherty D.Interpretative barriers to successful product innovation in large firms.Organization Science. 1992;3:179-202.
24. Eisenhardt K. M.,Kahwajy J. L.,Bourgeois L. J.Conflict and strategic choice: How top management teams disagree.California Management Review. 1997;39 (2): 42-62.
25. Engel D.,Keilbach M.Discussion paper no. Mannheim, Germany: ZEW; 2002:02-82.
26. Fiet J. O.A prescriptive analysis of search and discovery.Journal of Management Studies. 2007;44:592-611.
27. Finkelstein S.,Hambrick D. C.,Cannella A. J.Strategic leadership: Theory and research on executives, top management teams, and boards. Oxford, UK: Oxford University Press; 2009:.
28. Fiske S. T.,Taylor S. E.Social cognition: From brains to culture. New York: McGraw Hill; 2007:.
29. Foss N. J.,Klein P.,Kor Y. Y.,Mahoney J. T.Entrepreneurship, subjectivism, and the resource-based view: Toward a new synthesis.Strategic Entrepreneurship Journal. 2008;2:73-94.
30. Franke N.,Gruber M.,Harhoff D.,Henkel J.Venture capitalists' evaluations of start-up teams: Trade-offs, knock-out criteria, and the impact of VC experience.Entrepreneurship Theory and Practice. 2008;32:459-483.
31. Frommann H.,Dahmann A.Zur Rolle von Private Equity und Venture Capital in der Wirtschaft. Berlin: BVK; 2005:.
32. Gaglio C. M.The role of mental simulations and counterfactual thinking in the opportunity identification process.Entrepreneurship Theory and Practice. 2004;28:533-552.
33. Gaglio C. M.,Katz J. A.The psychological basis of opportunity identification: Entrepreneurial alertness.Small Business Economics. 2001;16:95-111.
34. Gagné R. M.,Glaser R.Instructional technology: Foundations. Gagné R. M., ed. Hillsdale, NJ: Lawrence Erlbaum; 1987:49-83.
35. Glick W. H.,Huber G. P.,Miller C. C.,Doty D. H.,Sutcliffe K. M.Studying changes in organizational design and effectiveness: Retrospective event histories and periodic assessments.Organization Science. 1990;1:293-312.
36. Greene W. H.Econometric analysis. New York: Prentice-Hall; 1999:.
37. Gruber M.Exploring the origins of organizational paths: Empirical evidence from newly founded firms.Journal of Management. 2010;36:1143-1167.
38. Gruber M.,MacMillan I. C.,Thompson J. D.Look before you leap: Market opportunity identification in emerging technology firms.Management Science. 2008;51:1652-1665.
39. Hambrick D. C.,Finkelstein S.,Mooney A. C.Executive job demands: New insights for explaining strategic decisions and leader behaviors.Academy of Management Review. 2005;30:472-491.
40. Hambrick D. C.,Mason P. A.Upper echelons: The organization as a reflection of its top managers.Academy of Management Review. 1984;9:193-206.
41. Hamilton B. H.,Nickerson J. A.Correcting for endogeneity in strategic management research.Strategic Organization. 2003;1:51-78.
42. Hansen D. J.,Schrader R. Opportunity: An 11-letter word. Paper presented at the 2007 Babson College Entrepreneurship Research Conference; 2007Madrid, Spain; 2007
43. Hardin J.,Hilbe J.Generalized linear models and extensions. College Station, TX: Stata; 2007:.
44. Hargadon A. B.Research on managing groups and teams. Mannix E. A.Neale M. A.Wageman R., ed. New York: JAI; 1999:137-155.
45. Harrison D. A.,Klein K. J.What's the difference? Diversity constructs as separation, variety or disparity in organizations.Academy of Management Review. 2007;32:1199-1228.
46. Heckman J. J.Sample selection bias as a specification error.Econometrica. 1979;47:153-161.
47. Helfat C. E.,Lieberman M. B.The birth of capabilities: Market entry and the importance of pre-history.Industrial and Corporate Change. 2002;11:725-760.
48. Hill S. A.,Birkinshaw J. M.Idea sets-Conceptualizing and measuring a new unit of analysis in entrepreneurship research.Organizational Research Methods. 2010;13:85-113.
49. Huber G. P.,Power D. J.Retrospective reports of strategic-level managers: Guidelines for increasing their accuracy.Strategic Management Journal. 1985;6:171-180.
50. Janis I. L.,Mann L.Decision making: A psychological analysis of conflict, choice, and commitment. New York: The Free Press; 1977:.
51. Jolly V. K.Commercializing new technologies. Boston: HBS Press; 1997:.
52. Kirzner I.Perceptions, opportunities and profit. Chicago: University of Chicago Press; 1979:.
53. Klopfer P. H.,Ganzhorn J. U.Cody M. L., ed. Habitat selection in birds Orlando, FL: Academic Press; 1985:436-454.
54. Knowlton B.Lamberts K.Shanks D., ed. Knowledge, concepts and categories Cambridge, MA: MIT Press; 1997:215-246.
55. Kor Y. Y.Experience-based top management team competence and sustained growth.Organization Science. 2003;14:707-719.
56. Kor Y. Y.,Mahoney J. T.Edith Penrose's (1959) contributions to the resource-based view of strategic management.Journal of Management Studies. 2004;41:183-191.
57. Kor Y. Y.,Mahoney J. T.,Michael S. C.Resources, capabilities and entrepreneurial perceptions.Journal of Management Studies. 2007;44:1188-1212.
58. Levinthal D.The slow pace of rapid technological change: gradualism and punctuation in technological change.Industrial and Corporate Change. 1998;7:217-247.
59. Levitt B.,March J. G.Organizational learning.Annual Review of Sociology. 1988;14:319-340.
60. Levitt T.Marketing myopia.Harvard Business Review, 38 (July-August):. 1964;:45-56.
61. Lien L. B.,Klein P. G.Using competition to measure relatedness.Journal of Management. 2009;35:1078-1107.
62. Malhotra N. K.Marketing research-An applied orientation. Upper Saddle River, NJ: Pearson; 2009:.
63. March J. G.,Simon H.Organizations. New York: Wiley; 1958:.
64. Markham S. K.,Baumer D. L.,Aiman-Smith L.,Kingon A. I.,Zapata M.An algorithm for high technology engineering and management.Journal of Engineering Education. 2000;89:209-218.
65. Markides C.Diversification, restructuring and economic performance.Strategic Management Journal. 1995;16:101-118.
66. McGrath R. G.,Boisot M.Options complexes: Going beyond real options reasoning.Emergence: Complexity and Organization. 2005;7 (December): 2-13.
67. McGrath R. G.,MacMillan I. C.The entrepreneurial mindset. Boston: Harvard Business School Press; 2000:.
68. Mednick S. A.The associative basis of the creative process.Psychological Science. 1962;69:220-232.
69. Michael S. C.College of Business, University of Illinois at Urbana-Champaign; 2008:.
70. Miller D.,Cardinal L.,Glick W. H.Retrospective reports in organizational research: A reexamination of recent evidence.Academy of Management Journal. 1997;40:189-204.
71. Montgomery C. A.The measurement of firm diversification: Some new empirical evidence.Academy of Management Journal. 1982;25:299-307.
72. Mullins J. W.The new business road test: What entrepreneurs and executives should do before writing a business plan. London, UK: FT/Prentice-Hall; 2003:.
73. Narin F.,Breitzman A.Inventive productivity.Research Policy. 1995;24:507-519.
74. O'Connor G. C.,Veryzer R.W.The nature of market visioning for technology-based radical innovation.Journal of Product Innovation Management. 2001;18:231-246.
75. Osborn A. F.Applied imagination, principles and procedures of creative thinking. New York: Scribner; 1957:.
76. Pelled L. H.Demographic diversity, conflict, and work group outcomes: An intervening process theory.Organization Science. 1996;7:615-631.
77. Penrose E. T.The theory of the growth of the firm. Oxford, UK: Oxford University Press; 1959:.
78. Prahalad C. K.,Hamel G.The core competence of the corporation.Harvard Business Review. 1990;68 (3): 79-91.
79. Rosenberg N.Technology and uncertainty. Tokyo: Lecture, UN University; 2000:.
80. Rosenzweig M. L.A theory of habitat selection.Ecology. 1981;62:327-335.
81. Rothaermel F. T.,Deeds D. L.Alliance type, alliance experience and alliance management capability in high-technology ventures.Journal of Business Venturing. 2006;21:429-460.
82. Schoonhoven C. B.,Eisenhardt K. M.,Lyman K.Speeding innovation to market: The impact of technology-based innovation on waiting times to first product introduction in new semiconductor ventures.Administrative Science Quarterly. 1990;35:177-207.
83. Schumpeter J. A.The theory of economic development. Cambridge, MA: Harvard University Press; 1934:.
84. Schwenk C. R.Cognitive simplification processes in strategic decision-making.Strategic Management Journal. 1984;5:111-128.
85. Shane S.Prior knowledge and the discovery of entrepreneurial opportunities.Organization Science. 2000;11:448-469.
86. Shane S.,Venkataraman S.The promise of entrepreneurship as a field of research.Academy of Management Review. 2000;24:217-226.
87. Shaver J. M.Accounting for endogeneity when assessing strategy performance: Does entry mode choice effect FDI survival.Management Science. 1998;44:571-585.
88. Shepherd D. A.,DeTienne D. R.Prior knowledge, potential financial reward, and opportunity identification.Entrepreneurship Theory and Practice. 2005;29:91-112.
89. Short J. C.,Ketchen D. J.,Shook C. L.,Ireland R. D.The concept of "opportunity" in entrepreneurship research: Past accomplishments and future challenges.Journal of Management. 2010;36:40-65.
90. Simon H. A.A behavioral model of rational choice.Quarterly Journal of Economics. 1955;69:99-118.
91. Singh R. P.Entrepreneurial opportunity recognition through social networks. New York: Garland; 2000:.
92. Sternberg R. J.Successful intelligence as a basis for entrepreneurship.Journal of Business Venturing. 2004;19:189-201.
93. Taylor A.,Greve H. R.Superman or the fantastic four? Knowledge combination and experience in innovative teams.Academy of Management Journal. 2006;49:723-740.
94. Teece D. J.Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance.Strategic Management Journal. 2007;28:1319-1350.
95. Tsui A. S.,Egan T. D.,Xin K. R.Chemers M.Oskamp S.Costango M. A., ed. Diversity in organizations Thousand Oaks, CA: Sage; 1995:191-219.
96. Ucbasaran D.,Westhead P.,Wright M.The extent and nature of opportunity identification by experienced entrepreneurs.Journal of Business Venturing. 2009;24:99-115.
97. Walsh J. P.Managerial and organizational cognition: Notes from a trip down memory lane.Organization Science. 1995;6:280-321.
98. Ward T. B.Cognition, creativity, and entrepreneurship.Journal of Business Venturing. 2004;19:173-188.
99. Wiersema M. F.,Bantel K. A.Top management team demography and corporate strategic change.Academy of Management Journal. 1992;35:91-121.
100. Wooldridge J. M.Introductory econometrics: A modern approach. Mason, OH: Thompson; 2002:.
101. Zahra S. A.,George G.Absorptive capacity: A review, reconceptualization, and extension.Academy of Management Review. 2002;2:185-203.