Elements of Business Development Paths:
Path I & II are non Entrepreneurial, as growth not sustained – they fail or stay small as “lifestyle businesses”
Path III & IV are proactive Entrepreneurial, they grow trough improvement and/or leverage of opportunity
Path V are discontinious Entrepreneurial, based on visionary leadership
Principle:
Different alternative paths for business development or failure
Issues:
Schumpeter, 1949 – Entrepreneurs bring innovative idears into stability
Kirzner, 1973 – Entrepreneurs create equilibrium by matching demand & supply in creative way (matching E-V-R congruence)
Applications:
To determine the consequense in change of leadership style and/or M&A situations
Source of Business Development Paths:
Thompson and Martin (2010)