Skip to main content Accessibility help
×
Hostname: page-component-78c5997874-v9fdk Total loading time: 0 Render date: 2024-10-29T22:19:44.063Z Has data issue: false hasContentIssue false

20 - Managing ten critical issues in new business creation

Published online by Cambridge University Press:  22 September 2009

Vijay Sathe
Affiliation:
Claremont Graduate School, California
Get access

Summary

This chapter ties together what has been learned in Parts I through V. It considers ten critical issues that cut across the five major influences on new business creation examined in these parts (Figure 20.1). Recommendations are included for top managers on how to manage these issues for better results.

The ten issues are:

  1. How to know whether to pursue new business creation.

  2. How much emphasis to place on new business opportunities versus existing business opportunities.

  3. What organization to use for new business creation.

  4. How to select people for new business creation.

  5. How to motivate people for new business creation.

  6. How to evaluate and commit to new business opportunities that are highly risky and/or in need of quick action.

  7. How long to persist with a new initiative, how much to invest in it, and when and how to de-commit.

  8. How to manage the volatility of new business.

  9. How to stay within budget without hindering new business creation.

  10. What the appropriate controls are for new business creation.

Successful new business creation requires a consistent and mutually reinforcing set of philosophies, beliefs, and practices. Top managers must not fall into the trap of seeking quick-fix solutions by trying to change a practice here and a belief there. They should first think about how they currently manage these ten critical new business creation issues. Then they must decide which elements need to be changed or managed more effectively to create a consistent and mutually reinforcing approach for new business creation.

Type
Chapter
Information
Corporate Entrepreneurship
Top Managers and New Business Creation
, pp. 293 - 312
Publisher: Cambridge University Press
Print publication year: 2003

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×