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Finding Fertile Ground: Identifying Extraordinary Opportunities for New Ventures by Scott A. Shane

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Chapter 10. Managing Risk and Uncertainty

As the previous chapters have discussed, when you found a new technology company you are going to face a variety of sources of uncertainty that need to be managed. For instance, when you start your company, the market may not yet exist for the product or service that you are introducing, leading the company to face market uncertainty. Similarly, you may not be sure how to create that product or service, generating technological uncertainty. Moreover, even if you can create the product or service and there is a market for it, you will face competitive uncertainty because you cannot know for sure whether you can capture the returns from introducing the product or service or if those returns will flow to ...

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