Mobilizing the right resources: Who and how much?

VC activitiesProbably the most important but least understood aspect of a successful innovative business model is the identification and mobilization of the required entrepreneurial talent and expertise. Too often firms decide first to launch a project and then try to staff and link it with whoever is available, that is in many cases not the right people or partners.

Fig_4_13The hidden secret behind the failures of many innovative ventures is not bad technologies but bad governance, with the wrong people taking the wrong decisions or failing to take any decisions at all.

Fig_4_14The easiest way to waste an innovation opportunity is to underestimate the financial resources required over time to support the launch and growth of a sustainable business model. Great innovations are never overnight successes.

Bibliography

Entrepreneurial talent and expertise: Who does what?

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Governance: Who decides what?

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  • (Article) Wasserman, N. (2017). The throne vs. the kingdom: Founder control and value creation in startups. Strategic Management Journal, 38(2), 255-277.

How much? Financial resources

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