Most studies focusing on resource-based theory in new ventures examine firms at discrete stages of their development at which time a set of resources already exists. Little work has been done to date to articulate a broader, more generalized view of the resource development process over the life cycle of a new venture. This paper tackles this agenda. We propose four phases of resources development, and that each phase must focus on a priority of resource bundles. We also propose that internal strategic resource development is context-dependent on and interacts with the external stage of industry development. We draw upon extensive case studies of new ventures in the wine industry to investigate the proposed model.
West, G. Page III and Taplin, Ian M.
"MAKING WINE AND MAKING SUCCESSFUL WINERIES: RESOURCE DEVELOPMENT IN NEW VENTURES,"
Frontiers of Entrepreneurship Research: Vol. 33
, Article 3.
Available at: http://digitalknowledge.babson.edu/fer/vol33/iss11/3