Managerial determinants of decision speed in new ventures

Daniel P. Forbes

210 citations0/0 files storedStrategic Management Journal

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Entrepreneurship Studies and Influences Private Equity and Venture Capital Organizational Management and Leadership

Abstract

Abstract This study helps to explain why some new ventures make strategic decisions more quickly than others. Drawing on life course theory and human capital theory, I develop a model of how entrepreneurs' individual characteristics affect new venture decision speed. I test the model using survey data from 98 Internet startups and their founder/managers. Results show that firms made faster decisions when they were managed by older entrepreneurs and by those with prior entrepreneurial experience. In addition, exploratory analyses indicating that fast decision‐making firms were more likely to close may indicate that prevailing theory in this area is contextually limited. Copyright © 2005 John Wiley & Sons, Ltd.

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References

1979Intraclass correlations: Uses in assessing rater reliability.1977Estimating Nonresponse Bias in Mail Surveys 1986Research in Organizational Behavior.1977Estimating Nonresponse Bias in Mail Surveys 1984Upper Echelons: The Organization as a Reflection of Its Top Managers 2004Social Structure and Organizations 1 1989MAKING FAST STRATEGIC DECISIONS IN HIGH-VELOCITY ENVIRONMENTS.1976The Structure of "Unstructured" Decision Processes

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