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Entrepreneurship and venture growth: In search of a new growth model
(University of Peradeniya, Sri Lanka, 2011) Rajaratne, M.
The venture growth problem is a common topic of entrepreneurship research. Findings and recommendations of such research are mostly stereotype. This drawback encouraged us to research for an approach that can systematically examine the root cause of the venture growth problem. Though there is no preset formula for gaining venture growth, perpetual innovation presumably brings about venture growth. The perpetual innovation, on the other hand, is a function of competency endowment of the venture. The objective of this study is to discover and elaborate the formation, relevance, and role of the venture competencies that support perpetual innovation and hence growth. In this study, a distinct analytical model is developed based on the growth principles of Tokuji Hayakawa. The study examines the formation of growth competencies, their role in venture growth, why some small enterprises remain small while some others grow, and recommends a growth formula.