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CHAPTER FIVE. More Good Things Are Not Necessarily Better: An Empirical Study of Strategic Alliances, Experience Effects, and New Product Development in High-Technology Start-ups

Subject Business and Management » Entrepreneurship, Technology and Innovation Management

DOI: 10.1111/b.9780631235118.2002.00007.x


The last twenty‐five years of the twentieth century witnessed an explosion in entrepreneurial activity. New technologies such as personal computers, software, medical electronics, biotechnology, and the Internet led to the creation of entirely new industries. It has long been argued that the creation of new ventures and the emergence of new industries provide an opportunity for organizational forms to be both intentionally and unintentionally changed, and subsequently for new forms of organizations to be introduced ( Hannan and Freeman, 1989 ). One of the variations in organization used extensively by these emerging new ventures is the strategic alliance ( Hagedoorn, 1993 ). Prior to the experimentation undertaken by these new ventures, the use of hybrid forms of organization was generally limited to non‐critical projects with relatively low levels of complexity and uncertainty ( Mowery, 1990 ). Projects that were critically important and had high levels of uncertainty and complexity were internalized due to a fear of opportunism on the part of the organization's partners ( Williamson, 1985 ). However, due to necessity, most new technological ventures have relied heavily on strategic alliances to undertake highly complex, uncertain, and lengthy research and development projects. This is particularly true of the biotechnology industry, where alliances involving early stage research ... log in or subscribe to read full text

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