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The Impact of Knowledge Resources on New Venture Performance

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  • G. Page West
  • Terry W. Noel

Abstract

A new venture's strategy—and thus its performance—is based upon the knowledge the firm has about its market, its opportunity in that market, and its appropriate conduct to take advantage of that opportunity. Resource‐based theory underscores knowledge as a type of resource that confers competitive advantage and the potential for sustainability, two factors that are critical for start‐ups. Three types of procedural knowledge are considered to be important at start‐up: (1) about the industry in which the venture competes; (2) about the type of business approach the venture is pursuing; and (3) about creating, building, and harvesting new ventures. Knowledge useful to the new venture is developed either through relevant personal experiences or by accessing relevant knowledge possessed by others. Hypotheses are developed regarding the impact on the performance of new ventures as a result of these sources of knowledge, and these relationships are explored in a study of new technology‐based firms.

Suggested Citation

  • G. Page West & Terry W. Noel, 2009. "The Impact of Knowledge Resources on New Venture Performance," Journal of Small Business Management, Taylor & Francis Journals, vol. 47(1), pages 1-22, January.
    • Handle: RePEc:taf:ujbmxx:v:47:y:2009:i:1:p:1-22
    DOI: 10.1111/j.1540-627X.2008.00259.x
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    Cited by:

    1. Setzer, Moritz, 2023. "From investor to entrepreneur – An explorative study of the entrepreneurial behaviour of investor-entrepreneurs," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(1), pages 43-67.
    2. Farzana Chowdhury & David B. Audretsch, 2024. "Paradoxes of accelerator programs and new venture performance: Do varieties of experiences make a difference?," Small Business Economics, Springer, vol. 62(1), pages 381-409, January.
    3. Battisti, Enrico & Alfiero, Simona & Quaglia, Roberto & Yahiaoui, Dorra, 2022. "Financial performance and global start-ups: the impact of knowledge management practices," Journal of International Management, Elsevier, vol. 28(4).
    4. Bing Song & Armin Schwienbacher, 2024. "How Do Family Founders Help Novice Entrepreneurs to Develop their Firms?," Small Business Economics, Springer, vol. 63(2), pages 781-804, August.
    5. Fabíola Kaczam & Julio Cezar Mairesse Siluk & Gil Eduardo Guimaraes & Gilnei Luiz Moura & Wesley Vieira Silva & Claudimar Pereira Veiga, 2022. "Establishment of a typology for startups 4.0," Review of Managerial Science, Springer, vol. 16(3), pages 649-680, April.

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