Problembereich:
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Growth of a TBNV is not only "more of the same", but also a fundamental transformation process of the new firm. The focus of this study is on the change of planning and control mechanisms in the course of the growth process. In the very early stages they often do not exist but gain importance and formal structure as MCS with size and maturity of the firm. Although, the adoption of MCS is generally recognized as important for TBNV success, there is almost no empirical validation for this process.
The study will further focus on specific requirements and characteristics of MCS during the stages of startup. In that phase firms, for example, face higher uncertainty and entrepreneurs want to maintain higher degrees of strategic flexibility. The study sets out to develop MCS characteristics and characteristics of the MCS adoption process as independent variables and then examine their correlation, and business performance of the TBNV as a survey on TBNV in European regions with high entrepreneurial activity (e.g., Munich, Cambridge).
In order to better understand current practice in implementing MCS in TBNV and what impact MCS have on company growth and success the study include as second explorative case study work package. We have chosen real options reasoning for this, because it explicitly considers uncertainty and managerial flexibility for strategic planning, capital budgeting and decision making. Real options reasoning is a sufficietly new MCS to study its first introduction into an entrepreneurial firm in the high-technology industry.
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