New+Venture+slides+day+2-+chapter+9+upload

New+Venture+slides+day+2-+chapter+9+upload - New Venture...

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Professor Joshua Hernsberger The Paul Merage School of Business University of California, Irvine New Venture Team
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Liability of Newness New ventures have a high propensity to fail. The high failure rate is due in part to liability of newness. New companies often falter because the people involved can’t adjust fast enough to their new roles and because the firm lacks a track record of success.
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Failure Rates of New Firms
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Definition of New Venture Team New Venture Team The group of founders, key employees, and advisers that move a new venture from an idea to a fully functioning firm. Usually, the team doesn’t come together all at once. Instead, it is built as the new firm can afford to hire additional personnel.
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Separate Elements of a New Venture Team
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The Founder or Founders Founder or Founders The characteristics of the founder or founders of a firm and their early decisions have a significant impact on the manner in which the new venture team takes shape. Size of the Founding Team Studies have shown that 50% to 70% of all new ventures are started by more than one individual. It is believed that new ventures that are started by a team rather than a single individual have an advantage.
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Founders’ Success Firm Started by a Team Start-ups started by a team can provide greater resources, a broader diversity of viewpoints, and a broader array of other positive attributes than ventures started by individuals. Higher Education
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This note was uploaded on 01/31/2012 for the course MGMT 190 taught by Professor Joshuahernsberger during the Summer '11 term at UC Irvine.

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New+Venture+slides+day+2-+chapter+9+upload - New Venture...

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