Making wine and making successful wineries: resource development in new ventures

Аннотация

Purpose – Most research on new organizations drawing on resource-based theory examines firms in discrete development stages with resources that already exist. The purpose of this paper is to articulate a broader view of changing resource requirements over the life of new organizations. The authors propose four phases of resources development, arguing that new resources and capabilities must 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