Strategic consensus has been found to facilitate positive outcomes in established organizations. It remains unclear, however, whether strategic consensus is of equally positive value to high-tech ventures where the paradox between the needs of resource accumulation and opportunity recognition is more salient. Drawing on a sample of 92 high-tech ventures and using a lagged and multiple-respondent design, this study examines the impact of strategic consensus among founding top management team (TMT) members on product innovation. We find an inverted-U relationship between founding TMT consensus and product innovation. We also find that the diversity in founding TMT members’ industry tenure diversity moderates this relationship. By contributing to both consensus and entrepreneurship literatures, this research helps to unpack the consequences of strategic consensus in an entrepreneurial setting.
|Publication status||Published - 19 Sep 2021|
|Event||Strategic Management Society (SMS) 41st Annual Conference - Toronto, Canada|
Duration: 18 Sep 2021 → 21 Sep 2021
|Conference||Strategic Management Society (SMS) 41st Annual Conference|
|Period||18/09/21 → 21/09/21|