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Medium-Sized Firms and the Limits to Growth: A Case Study in the Evolution of a Spin-Off Firm

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  • Jonathan Michael Feldman
  • Magnus Klofsten

Abstract

This paper explores potential barriers to growth in key areas which can become increasingly problematic for some smaller to medium-sized firms (SMEs) as they grow and evolve from their early status as small scale spin-offs. These potential growth barriers can occur in: finance, competition from new firms or products and organizational integration of resources. Firms that fail to properly plan, manage and allocate resources will encounter difficulties in each area. Such firms are said to have poor 'governance systems'. While not proposing a universal theory about small firm behaviour, we argue that firms can encounter the same problems associated with poor communication, bureaucracy and loss of entrepreneurial spirit that plague large firms. We also show that the routines used to promote growth based on collaboration can sometimes create problems for firms as they ignore new challenges. We elaborate various theories on the limits to growth by examining the case of IV, a university spin-off.

Suggested Citation

  • Jonathan Michael Feldman & Magnus Klofsten, 2000. "Medium-Sized Firms and the Limits to Growth: A Case Study in the Evolution of a Spin-Off Firm," European Planning Studies, Taylor & Francis Journals, vol. 8(5), pages 631-650, October.
    • Handle: RePEc:taf:eurpls:v:8:y:2000:i:5:p:631-650
    DOI: 10.1080/713666429
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    Cited by:

    1. López Iturriaga, Félix & Marti­n Cruz, Natalia, 2008. "Antecedents of corporate spin-offs in Spain: A resource-based approach," Research Policy, Elsevier, vol. 37(6-7), pages 1047-1056, July.
    2. Mia Gray & Al James, 2007. "Connecting Gender and Economic Competitiveness: Lessons from Cambridge's High-Tech Regional Economy," Environment and Planning A, , vol. 39(2), pages 417-436, February.
    3. DE CLEYN, Sven & BRAET, Johan, 2006. "The evolution and performance of spin-off ventures: Integration and elaboration of existing models," Working Papers 2006031, University of Antwerp, Faculty of Business and Economics.
    4. Alice Civera & Michele Meoli & Silvio Vismara, 2019. "Do academic spinoffs internationalize?," The Journal of Technology Transfer, Springer, vol. 44(2), pages 381-403, April.
    5. Sundriyal, Vivek Kumar & Gabrielsson, Jonas, 2024. "The employment consequences of founding an incorporated business among STEM founders: Evidence from Swedish microdata," Technovation, Elsevier, vol. 133(C).
    6. Ekaterina Bjørnåli & Arild Aspelund, 2012. "The role of the entrepreneurial team and the board of directors in the internationalization of academic spin-offs," Journal of International Entrepreneurship, Springer, vol. 10(4), pages 350-377, December.
    7. E. Ryabova V. & M. Samodelkina A. & Е. Рябова В. & М. Cамоделкина А., 2018. "Факторы Устойчивого Роста Российских Компаний // Factors Of Sustainable Growth Of Russian Companies," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 22(1), pages 104-117.
    8. Stefano Poponi & Alessio Maria Braccini & Alessandro Ruggieri, 2017. "Key Success Factors Positively Affecting Organizational Performance of Academic Spin-Offs," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 14(05), pages 1-18, October.
    9. Ming Chu Leung & John A. Mathews, 2011. "Origins and dynamics of university spin-offs: the case of Hong Kong," International Journal of Transitions and Innovation Systems, Inderscience Enterprises Ltd, vol. 1(2), pages 175-201.
    10. Martina Musteen & Mujtaba Ahsan, 2013. "Beyond Cost: The Role of Intellectual Capital in Offshoring and Innovation in Young Firms," Entrepreneurship Theory and Practice, , vol. 37(2), pages 421-434, March.
    11. DE CLEYN, Sven & BRAET, Johan, 2007. "Research valorisation through spin-off ventures: Integration of existing concepts and typologies," Working Papers 2007008, University of Antwerp, Faculty of Business and Economics.
    12. Lutz Preuss & Jack Perschke, 2010. "Slipstreaming the Larger Boats: Social Responsibility in Medium-Sized Businesses," Journal of Business Ethics, Springer, vol. 92(4), pages 531-551, April.

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