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| Author: | King, B.L. |
| Title: | Strategizing at leading venture capital firms: of planning, opportunism and deliberate emergence |
| Journal: | Long Range Planning
2008 : JUN, VOL. 41:3, p. 345-366 |
| Index terms: | strategic planning venture capital companies decision making strategy change |
| Language: | eng |
| Abstract: | Venture capitalists are often considered to have a lot of expertise as strategists. In the literature, the question of how they develop strategy for their own firms has received limited attention. This article adopts a strategy as practice perspective, examining decision making processes at leading venture capital firms in Boston and Silicon Valley. It advances three ideas: 1) that venture capitalists are 'bifurcated strategists', using planning for their portfolio companies, while using emergent strategies on their own behalf, 2) that some leading firms use deliberately emergent strategies, which is consistent with other empirical studies of strategizing in turbulent environments, and 3) a dynamic model which shows how these strategies are put into practice. |
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