Locus of ControlEntrepreneurs that start successful new ventures are likely to: (5 and 6) identify a business idea that is clear and broad, (7) use a procedural and comprehensive planning process, (8) spend more time planning, (9) generate a broad plan which recognizes all of the functional areas, (10) undertake market research, (11) seek professional advice, and (12) purchase fillllS. Firms Behaviors and Strategy Successful new ventures are likely to have: (13) employees with diversified skills and abilities, (14) lead entrepreneurs who are solely in command, (15) utilized joint ventures, (16 and 17) lead entrepreneurs who encourage participative decision making at strategic and oper- ational levels, (18) emphasis on high levels of communication, (19) started at higher levels of capitalization, and (20) strategies of aggressive entry to broad markets.
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