Session 6: January 25, 2008

The Role of Context

 

Quotes of the Day

"Know the enemy, know yourself; your victory will never be endangered. Know the ground, know the weather; your victory will then be total." - Sun Tsu

"Towering genius disdains a beaten path. It seeks regions hitherto unexplored." - Abraham Lincoln

Summary

What is entrepreneurial context? It is the environment from which an entrepreneurial team gains access to the assets they need to pursue the opportunity they have selected. Entrepreneurs must analyze the entrepreneurial context to pick the place that offers the best environment to support their new venture in the first few years of life. Each region has its own unique assets, liabilities, and risks. Selecting the right place to start is not as simple as it may seem.

Understanding the context of different regions is also critical as a new venture expands from its home base to become a global enterprise. Many entrepreneurs who are initially successful in their home market are unable to scale the business and maintain their competitive advantage because they do not learn how to adapt their products, processes, and strategy to best enter new regions with contexts that are different from their own.

Required Readings (Policy on Required Readings.)

• Readings from the Textbooks:
• Technology Ventures (Dorf and Byers): Ch 13: Acquiring, Organizing and Managing Resources (Highlights: 13.3, 13.7 and 13.8)
• Case:
• Global Wireless Ventures
• Exhibits 7–9 of Global Wireless Ventures case

Study Questions (Policy on Study Questions.)

• Based on the readings, what factors should Global Wireless Ventures consider in comparing the entrepreneurial context in Sweden, Singapore, and Silicon Valley?
• Conduct some quick and dirty research about Kista, Sweden, Singapore, and Silicon Valley, using Stanford libraries and the Internet. Based on your team's research, what are the assets, liabilities, and risks in the context of each region?
• What assets (besides smart money) do you think are most critical for a startup like Global Wireless Ventures?

 

Team Online Assignment (Policy on Online Assignments.)

Which region has the best context for Global Wireless Ventures? Why?

Recommended Readings (Policy on Recommended Readings. List of readings)

• Longitudes and Attitudes: Exploring the World After September 11.