Making wine and making successful wineries.pdf

The paper identifies salient resources in these

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develop as new strategic challenges emerge. The paper identifies salient resources in these phases and finds that internal resource development is context dependent, interacting with the external stage of industry development. Design/methodology/approach – After developing the theoretical model, the authors use an exploratory qualitative study involving extensive case studies of new ventures in the wine industry. Key personnel at a sample of firms were interviewed, supplemented with secondary data from published reports. Findings – The paper finds that a linear stage development model for new organizational ventures is inappropriate. The various combinations of early/later new ventures in a formative/developed industry suggest that some may proceed rapidly in a linear fashion through phases of development, while others may find progress slow, difficult, stalled or occasionally regressive. A combination of resources developed simultaneously in a non-linear pattern appears to be critical to the success of new ventures. In other words, combinations must evolve as the strategic challenges evolve, thus bringing an important contextual view to the examination of dynamic resource development efforts for new organizations. Attempts to focus in a piecemeal fashion on individual aspects of resource development, without accounting for resource interactions at a systemic level or the nature of the strategic demands, is likely to leave researchers and practitioners with incomplete insights. Originality/value – Existing studies have failed to grasp the dynamic and interactive process of resource development as organizations evolve in a new industry setting. The model presented in this paper provides a heuristic device for conceptualizing these changes. Keywords Business strategy, Resource efficiency, New ventures, Wine industry Paper type Research paper The authors appreciate helpful comments from Ted Baker, Garry Bruton, Frederic Delmar and Justin Jansen on earlier versions of this paper. A previous version of this paper was presented at the 2013 Babson Entrepreneurship Research Conference (Lyon FR) and appeared in the proceedings of best papers from that conference. See West and Taplin (2013) . The current issue and full text archive of this journal is available on Emerald Insight at: Making wine and making successful wineries 123 International Journal of Organizational Analysis Vol. 24 No. 1, 2016 pp. 123-144 © Emerald Group Publishing Limited 1934-8835 DOI 10.1108/IJOA-02-2014-0741 Downloaded by Walden University At 08:05 13 November 2018 (PT)
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Resource-based theory continues to provide a valuable perspective to understanding the process and pace of how organizations evolve as they solve significant strategic challenges they confront. This body of work to date is valuable because it emphasizes the creation of ex ante and ex post limits to competition ( Peteraf, 1993 ); the ways in which combining resources are itself important resources for entrepreneurial firms ( Alvarez and Busenitz, 2001 ); and the dynamic development of resource positions over time, as
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