Abstract

A dominant literature stream addressing the growth of new ventures is the resource-based view. Arguably, resources are only one part of the story. Firms employ resources to attain organizational goals, i.e. they deploy strategies. The strategy literature has traditionally focused on how companies build competitive advantage to enter product markets. More recently, researchers argue that firms may focus their efforts on targeting technology markets. So far, the literature on product and technology markets has mainly focused on explaining market choice, without examining the effects of the chosen commercialization strategy for firm growth. Furthermore, growth is not a unidimensional construct. Therefore, scholars have argued that research should focus on the differences in dominant type and the determinants of these differences. In this paper, we extend previous literature by focusing on the relationship between entrepreneurial strategy and firm performance conceptualized as growth in revenues and employment.

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