Entrepreneurs and Networking Gulati et al (2000): “The image of atomistic actors competing for profits against each other in an impersonal market place is increasingly inadequate in a World in which firms are embedded in networks of social, professional and exchange relationships with other organizational actors”.-Business environment is increasingly turbulent , therefore networking is needed as a strategy to achieve success. (e.g. resolve liabilities of newness) Henderson (1999): A liability of newness describes the fact that new and small firms find it difficult to create value because of their lack of resources , knowledge and social capital compared to larger firms. BUT! – Resources and knowledge evolve over time. Liabilities of obsolescence : As firms grow they see the problem of the incumbents curse because their resources tend to
This is the end of the preview. Sign up
access the rest of the document.