THE MANAGEMENT TEAM: A KEY ELEMENT IN TECHNOLOGICAL START-UPS

This longitudinal study of new, technology based ventures studies how a founding team influences the organization choices, processes and ultimately the success or failure of the venture. The functional breadth of the founding team and the strenght of the CEO are related to the success of the venture. Their influence is primarily through the initial selection of a product. Beyond that all companies in our sample, regardless of team breadth or CEO strength, follow similar organizational processes and conduct their missions effectively. The failure of the initial product is an irreparable blow, from which a successful recovery is unlikely. 1 Professor, Stanford University 2 Professor, Entrepreneurship, IESE