Trajectories, Strategic Formulas and Contingencies : pathways to entrepreneurial success

Concerned by the high rate of failure in ventures, we embarked upon a process of identifying possible explanations for the failures. Combined literature and field research confirmed that the organizational capabilities of the entrepreneurs have been rather overlooked in comparing the successes and failures of new ventures. By extending and innovativing the RBV approach we formed a 'triptych' (a combined resources-competencies-capabilities approach), which constitutes a new tool for analyzing, facilitating and anchoring the growth of the firm along a given path of evolution (organizational trajectory). This triptych model can also serve as a conceptual grid for defining and improving programs to assist entrepreneurs.