TY - JOUR
T1 - Strategic consensus at founding and product innovation performance in high-tech ventures
AU - Wei, Li Qun
AU - Ling, Yan
AU - Kellermanns, Franz W.
AU - Zhang, Yuli
N1 - Funding Information:
We would like to acknowledge the financial support of the major program of National Natural Science Fund of China under Grant 72091311 to the last author; and the General Research Fund (HKBU292513) granted by Research Grants Committee, Hong Kong Special Administration Region to the first author for the data collection of this research.
Publisher Copyright:
© 2024 Elsevier Inc. All rights are reserved, including those for text and data mining, AI training, and similar technologies.
PY - 2025/2
Y1 - 2025/2
N2 - This study examines whether high-tech ventures would be better at product innovation if their top management team (TMT) members had higher levels of strategic consensus at founding, and, if so, how it happens. Taking the entrepreneurial process model (EPM) as our research lens, we propose that TMT strategic consensus can streamline opportunity recognition, leading to faster TMT decision-making; higher TMT decision speed then facilitates opportunity exploitation in which product innovation is realized. We also suggest that this indirect influence is contextually sensitive; that is, external conditions (specifically, environmental competitiveness) negatively moderate the relationship between strategic consensus and decision speed, and internal conditions (specifically, structural specialization among TMT members) positively moderate the relationship between decision speed and product innovation. Drawing on a sample of 92 Chinese high-tech ventures and using a lagged, multiple-respondent design, we found support for these arguments.
AB - This study examines whether high-tech ventures would be better at product innovation if their top management team (TMT) members had higher levels of strategic consensus at founding, and, if so, how it happens. Taking the entrepreneurial process model (EPM) as our research lens, we propose that TMT strategic consensus can streamline opportunity recognition, leading to faster TMT decision-making; higher TMT decision speed then facilitates opportunity exploitation in which product innovation is realized. We also suggest that this indirect influence is contextually sensitive; that is, external conditions (specifically, environmental competitiveness) negatively moderate the relationship between strategic consensus and decision speed, and internal conditions (specifically, structural specialization among TMT members) positively moderate the relationship between decision speed and product innovation. Drawing on a sample of 92 Chinese high-tech ventures and using a lagged, multiple-respondent design, we found support for these arguments.
KW - Decision Speed
KW - Product Innovation
KW - Strategic Consensus
KW - Team Structure
KW - Top management team (TMT)
UR - http://www.scopus.com/inward/record.url?scp=85209767386&partnerID=8YFLogxK
U2 - 10.1016/j.jbusres.2024.115082
DO - 10.1016/j.jbusres.2024.115082
M3 - Journal article
AN - SCOPUS:85209767386
SN - 0148-2963
VL - 188
JO - Journal of Business Research
JF - Journal of Business Research
M1 - 115082
ER -