New firms are different. Firms that are still in developmental infancy represent a distinct subsection of the universe of all firms. Indeed, experts have noted that new ventures differ fundamentally from more mature firms and these differences mean that new strategies and tactics must be developed, because strategies for survival and growth cannot simply be shipped wholesale from the realm of mature firms (McDougall & Robinson, 1990).
Consider, for example, Under Armour in 1995. Now a household name and wildly successful apparel firm, Kevin Plank started this company from his grandmother’s garage and sold product out of his car. Since it took him over a year to land his first major account—a ...
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