How Do “Resource Bundles” Develop and Change in New Ventures? A Dynamic Model and Longitudinal Exploration

Benyamin M. Bergmann Lichtenstein · Candida G. Brush

386 citations0/0 files storedEntrepreneurship Theory and Practice

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Entrepreneurship Studies and Influences Innovation and Knowledge Management Firm Innovation and Growth

Abstract

According to recent studies applying Resource-Based Theory [RBT] to entrepreneurial firms (e.g. Chandler & Hanks, 1994; Brush & Greene, 1996), in the early stages of new venture development it is the identification and acquisition of resources—rather than deployment or allocation activities—that is crucial for the firm's long-term success (Stevenson & Gumpert, 1985). This study explores that relationship longitudinally, tracking salient resources in three rapidly growing new ventures, and analyzing how these resources change over time. Our findings identify the most common types of salient resources, the primary types of changes in resource and resource bundles, and a pattern linking the type of change with short-term performance results in each firm.

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1991Firm Resources and Sustained Competitive Advantage 1984A resource‐based view of the firm 1992Basics of Qualitative Research 2000The Promise of Entrepreneurship as a Field of Research 2004Frontiers of Entrepreneurship Research 1985A Conceptual Framework for Describing the Phenomenon of New Venture Creation 1988RELATION OF DOMINANT PROBLEMS TO STAGES GROWTH IN TECHNOLOGY-BASED NEW VENTURES.1992Acting as If: Differentiating Entrepreneurial from Organizational Behavior

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