Article Summary: “New Venture Ideas: An Analysis of their Origin and Early Development” by Klofsten & Magnus

February 11, 2009 | Comments Off on Article Summary: “New Venture Ideas: An Analysis of their Origin and Early Development” by Klofsten & Magnus

This is a summary I have written for Klofsten’s article “New Venture Ideas: An Analysis of their Origin and Early Development”, originally as part of my Harvard Innovation and Business Transformation class assignment.

The early formation of business ideas are heavily affected by the founder’s technical skills. Technical know how heavily regulates the early process of idea development. Marketing situation and people close to the founder such as colleagues, training supervisors and friends influence which potential ideas be chosen to continue with, and often the actual development of ideas takes place after the the firm has been started. Existing and potential clients, competitors, suppliers, physical resources available and the macro economic environment play increasingly important roles in a start up as an idea is being developed. Ideally, an idea is concrete and has a high anchorage (close to satisfying the needs of customers & have some commercial interests).


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