ECON 1 Lecture Notes - Lecture 10: Social Cognitive Theory, Organizational Culture, Proactivity
Document Summary
A multidimensional model of venture growth: robert baum & edwin a. locke & ken g. smith. Ceos" specific competencies and motivations and firm competitive strategies were direct predictors of venture growth. Ceos" traits and general competencies and the environment had significant indirect effects. Individual, organizational, and environmental dimensions combine to provide a more comprehensive prediction of venture development and growth than any one dimension in isolation. Five research domains that have been theoretically identified as antecedents of venture performance: personality traits and general motives, personal competencies, situationally specific motivation, competitive strategies, and, business environment. We chose venture growth as our performance measure, rather than other indicators of performance. Personality theories point to the importance of personal predispositions for venture success and entrepreneur characteristics are extremely important for venture success. Organizational and industry variables completely dominated individual-level variables as causes of venture success.
