Development of Management Competences in Growth-Oriented New Ventures

The objective of the article is to examine the management competences of founders which are relevant for the success of growth-oriented companies. A survey showed that the demands on management competences during the different stages of new ventures vary significantly. In this context the stages of business formation are defined as pre-formation stage, implementation stage and growth stage, whereas the following types of competences were identified: specialised methodological systems/innovation, leadership/social and implementation competences. While at the beginning of a new venture implementation-oriented competences seem to be of particular relevance in order to initiate a growth-oriented enterprise, leadership and social competences become increasingly significant during the further development of the enterprise. This development toward a professional management must, due to the expansive growth of growth-oriented business formations, occur within a relatively short time span.