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NEW VENTURE CO-CREATION: A STUDY OF EARLY STAKEHOLDERS AND THEIR INFLUENCE (INTERACTIVE PAPER)
2012
raja Singaram Paul Bijleveld
New ventures are born out of the labors of multiple actors (Gartner, Shaver, Gatewood, Katz, 1994). Venture co-creation is initiated by the selection of relevant stakeholders. Once ‘in’, these stakeholders exert considerable influence on the resources and offerings of the venture (Dew et al., 2005, Sarasvathy, 2008). A comprehensive process perspective that captures introduction of early stakeholders to one another leading to selection and commitment has been lacking so far. Present study addresses this gap by mapping the process of selection of a particular stakeholder into a new venture. It reports results from the first part of a longitudinal empirical study to build theory on new venture co-creation. Observable effects early stakeholders have upon the resources assembled coupled with their influence on product or service offering of the business is documented. Thus the specific research questions were: RQ#1: How does each stakeholder get selected in a new venture? RQ#2: How does each stakeholder influence: a) the resources available for the new venture and b) shape the product or service offering over time?