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- Saemundsson, Rögnvaldur J., 1968
(author)
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Entrepreneurship, Technology and the Growth Process: A Study of Young, Medium-Sized Technology-Based Firms
- 2003
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Doctoral thesis (other academic/artistic)abstract
- The purpose of this thesis is to contribute to the study of the growth process in young technology-based firms. Two sets of issues are addressed in the thesis which are related to one another by using a conceptualization of Penrose's theory of the growth process. The first set of issues concerns how young technology-based firms achieve reinforced growth. It is investigated how the characteristics of start-up opportunities may constrain firms from attaining reinforced growth, how specific actors - such as venture capital firms and large corporations - help firms to avoid resource constraints, and finally whether the growth orientation of the firms is affected by these actors. The second set of issues concerns how the growth process affects the development of technical knowledge in young technology-based firms, and hence, their ability to create and detect new opportunities for further growth. In order to investigate the above issues, two empirical studies have been conducted. Both focus on the population of new technology-based firms in Sweden established between 1975 and 1993. A mixture of quantitative and qualitative data collection methods is used in both studies. Analysis of quantitative data is used for comparing firms that have become medium-sized with those that have not. Interviews in medium-sized firms are used to analyze the growth process. The main findings can be divided into two parts. First, it was found that differences in the novelty of opportunities at start-up may influence the probability of attaining reinforced growth. Additionally, a relationship was found between access to resources, ownership changes and growth orientation. New owners both provide access to resources necessary for growth and increase the growth orientation of the firm. Hence, they may enable growth in two ways. Second, the study found that growth affects the organization of technical knowledge as well as the incentives for seeking new technical knowledge. The number of distinctive fields of technical knowledge was found to increase during growth, but this increase was limited by the characteristics of the firms' technology and by growth itself. Incentives for knowledge-seeking were also found to change during growth, leading to problems related to retention of technical employees and updating of the technical knowledge base. The chief contribution of this thesis is the conceptualization of the growth process that is used to connect the two sets of research issues. The study also provides empirical support for the need to consider multiple intentions and incentives when examining growth in young technology-based firms. Intentions and incentives are not predetermined, but are among the variables that may change and are to be explained. Finally, the study empirically demonstrates some aspects of the interaction between technical knowledge and growth. The findings of the thesis point to tensions, inherent in the growth process in young technology-based firms, that must be attended to by management in order to attain and sustain reinforced growth.
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| 2. |
- Saemundsson, Rögnvaldur J., 1968
(author)
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On the interaction between growth intentions, resource acquisition and growth in new technology-based firms
- 2003
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In: International Journal of Entrepreneurship and Innovation. - : SAGE Publications. - 2043-6882 .- 1465-7503. ; 4:2, s. 85-95
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Journal article (peer-reviewed)abstract
- This paper explores the interaction between growth intentions, access to resources and growth in new technology-based firms. Based on a combination of a cross-sectional survey study and case studies of individual firms, the paper shows that the growth orientation of new technology-based firms may be mediated, or determined jointly by the firms' need for external resources. New technology-based firms that have low growth orientation at start-up may attain actual growth through the influences of new owners who allow access to critical resources. These results have important implications for understanding the growth process in new technology-based firms.
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| 3. |
- Saemundsson, Rögnvaldur J., 1968
(author)
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Technical Knowledge Seeking in a Young and Growing Technology-Based Firm: Incentives and Direction
- 2004
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In: International Journal of Innovation Management. - 1363-9196. ; 8:4, s. 399-429
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Journal article (peer-reviewed)abstract
- The purpose of the paper is to investigate technical knowledge-seeking activities in young and growing technology-based firms. Changes in technical knowledge-seeking activities were traced using a single illustrative case study of a young and growing technology-based firm. The results of the study show how strong commitment to the business concept of the emerging firm affected the direction of technical knowledge-seeking in a way that increases the vulnerability of the firm. New employees who were not as familiar with or committed to the original business concept brought with them different incentives for knowledge-seeking, which lead to search in new directions. These knowledge-seeking activities were important for the renewal of the firm's knowledge base. It is therefore suggested that differences in individual incentives may affect the direction of technical knowledge-seeking activities, and correspondingly, that multiple incentives are an important source of diversity in technical knowledge creation.
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