<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="7.x">Drupal-Biblio</source-app><ref-type>17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Michael Ayukawa</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">Applying the Theory of the Firm to Examine a Technology Startup at the Investment Stage</style></title><secondary-title><style face="normal" font="default" size="100%">Technology Innovation Management Review</style></secondary-title></titles><keywords><keyword><style  face="normal" font="default" size="100%">deals</style></keyword><keyword><style  face="normal" font="default" size="100%">investment</style></keyword><keyword><style  face="normal" font="default" size="100%">technology entrepreneurship</style></keyword><keyword><style  face="normal" font="default" size="100%">theory of the firm</style></keyword></keywords><dates><year><style  face="normal" font="default" size="100%">2012</style></year><pub-dates><date><style  face="normal" font="default" size="100%">05/2012</style></date></pub-dates></dates><urls><web-urls><url><style face="normal" font="default" size="100%">http://timreview.ca/article/556</style></url></web-urls></urls><publisher><style face="normal" font="default" size="100%">Talent First Network</style></publisher><pub-location><style face="normal" font="default" size="100%">Ottawa</style></pub-location><volume><style face="normal" font="default" size="100%">2</style></volume><pages><style face="normal" font="default" size="100%">23-27</style></pages><abstract><style face="normal" font="default" size="100%">The investment stage of a new technology firm is when resources, opportunities, investors, and early customers first converge. Currently, technology entrepreneurs make many expensive mistakes. They invest in assets and develop capabilities that prove to have limited value. They take too long to discover and validate the product-market fit for their firms during the investment stage and run out of time and money. Understanding how theory can help entrepreneurs make decisions during the investment stage is important to accelerate new-firm formation and growth as well as to reduce the uncertainty of founders and stakeholders of technology firms. 
 
This article introduces a model developed to examine deal making during the investment stage of a new technology firm. It is an extension of a model of lateral firm scope proposed by Oliver Hart and Bengt Holmstrom. The extensions come from considering a technology firm as being both a deal-making entity and a pool of resources during the investment stage. A deal is the result of a decision the entrepreneur and others make to coordinate (i.e., work together to achieve a common objective). Benefits from a deal include cash profits for the firm and private benefits for the entrepreneur. 

This extended model is then applied to examine the author’s firm which is still in the investment stage. Application of the extended model to a real-life situation generated two important insights: i) when private benefits include learning from experimentation, the number of deals increases and ii) at the start of the investment stage, private benefits drive deal-making, whereas at the end of the investment stage, cash profits derived from asset ownership drive deal-making.
</style></abstract><issue><style face="normal" font="default" size="100%">5</style></issue><custom1><style face="normal" font="default" size="100%">Cornerportal 
Michael Ayukawa is the co-founder of Cornerportal Inc., a company that is committed to bring economic opportunity to more individuals in more communities worldwide. He is also a master's student in the Technology Innovation Management program at Carleton University and plays an active in several emerging business ecosystem projects. 
</style></custom1></record><record><source-app name="Biblio" version="7.x">Drupal-Biblio</source-app><ref-type>17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Peter Carbone</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">How Do Large Companies Manage Their Investments Across the Three Horizons?</style></title><secondary-title><style face="normal" font="default" size="100%">Technology Innovation Management Review</style></secondary-title></titles><keywords><keyword><style  face="normal" font="default" size="100%">horizon management</style></keyword><keyword><style  face="normal" font="default" size="100%">investment</style></keyword><keyword><style  face="normal" font="default" size="100%">large companies</style></keyword><keyword><style  face="normal" font="default" size="100%">technology entrepreneurship</style></keyword></keywords><dates><year><style  face="normal" font="default" size="100%">2012</style></year><pub-dates><date><style  face="normal" font="default" size="100%">04/2012</style></date></pub-dates></dates><urls><web-urls><url><style face="normal" font="default" size="100%">http://timreview.ca/article/548</style></url></web-urls></urls><volume><style face="normal" font="default" size="100%">2</style></volume><pages><style face="normal" font="default" size="100%">28-34</style></pages><language><style face="normal" font="default" size="100%">eng</style></language><abstract><style face="normal" font="default" size="100%">Technical entrepreneurship continues to be important to a technology company’s health and growth, even after it has successfully delivered its first product. It is essential to help the company deal with competitive forces and to renew its revenue stream. However, as the company grows, its entrepreneurial capability often becomes handicapped both by company culture as well as external pressures. The company must achieve the right mix of investment and level of attention across three time horizons of growth: immediate, imminent, and future. This balancing act requires a commitment to a strategic growth goal, appropriate tools, and leaders that can manage significant degrees of uniqueness in the resources that address each of these time horizons.

This article discusses some of the horizon-management challenges faced by top management teams of large companies and overviews some mechanisms and processes that have worked effectively. Large companies must overcome internal teams’ divergent values and culture as well as significant external, short-term pressures being applied by their existing base of customers and markets. Discipline at the entry point to Horizon 3 (exploratory phase) and then a rapid transition to Horizon 1 (current operations) is the priority of any successful growth company.
</style></abstract><issue><style face="normal" font="default" size="100%">4</style></issue><custom1><style face="normal" font="default" size="100%">
Peter Carbone is a successful executive known for his thought leadership, business acumen, and technology leadership. He is often called on to address new business and technology challenges. Peter is a pathfinder with a track record of creating innovative solutions, strategically managing technology and innovation, successfully launching and running new businesses, and leading business development initiatives. Peter has held CTO, R&amp;D, and senior business positions in several high-tech companies, and he has led or been directly involved with several technology company acquisitions. Peter has been engaged as technical advisor to startups, is part of the faculty of an entrepreneur development program that has created &gt;100 new companies, and has been on the boards of US-based Alliance for Telecommunications Industry Solutions (ATIS) and Coral CEA. He is past Vice-Chair of the Executive Committee of the Information Technology Associationof Canada (ITAC) and Chair of an ITAC committee, which is focused on the Global Competitiveness of Canada’s Knowledge Economy. Peter is also on the Advisory Board of the &lt;em&gt;Technology Innovation Management Review.&lt;/em&gt;</style></custom1></record></records></xml>