ITB Journal-May-2003 - Institute of Technology Blanchardstown

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ITB Journal investors. Boundary is defined as the barrier conditions between the organisation and its environment (Katz &Kahn, 1978). The organisation has control over assets that fall within its boundary, however, it must establish a physical and legal basis for exchanging the resources it requires across its borders. When an organisation defines its boundary for example through incorporation, applying for tax number, establishment of physical offices, phone line etc., it creates its own identity and differentiates itself from other legal entities. Finally, exchange refers to cycles of transactions within the organisational boundary and outside with other economic agents (Katz & Gartner 1988:432). Exchange is necessary for the organisation to operate and must be conducted efficiently i.e. selling goods for no less than the cost of producing them. The other three properties must be in place before exchange processes can occur. These four properties of emerging organisation are necessary to make the transition to an ‘organisation’. The authors see these properties as useful tools for researchers to build models for analysing potential sources of new ventures in a way that allows the identification of organisations the process of creation (Katz & Gartner, 1988). Moreover, the ability to recognise organisations early in creation should prove beneficial for determining the success and failure of different strategies adopted in start-ups. 2.7 Network Approach (Social-economic model) The role of social networks has become quite a fashionable approach to new venture creation. There have been many contributions to explaining networks as a factor in new firm formation. Nascent entrepreneurs´ personal networks are the set of persons to whom they are directly linked - impact their social and economic resources and support. Founders draw upon their network ties and build new ones as a means to obtain knowledge and resources for their emerging organisations. Aldrich (2000: 235) argues that nascent entrepreneurs “who occupy impoverished social locations may find themselves cut off from emerging opportunities and critical resources”. Larson and Starr (1993) propose a Network model (see figure 3) of organisation formation embodying socio-economic characteristics. Their model is a stage model that describes the processes by which the essential relationships between the entrepreneur and resource providers evolve to create an organisation. The model builds upon the theoretical and empirical research of network analysis. Although the network approach captures aspects of previous models (Katz & Gartner 1988) by linking the entrepreneur and the environment in which they Issue Number 7, May 2003 Page 28
ITB Journal operate, it emphasizes the exchange processes between actors and units and recognises the social and economic aspects of these exchange relationships (Larson & Starr, 1993:6). The author’s model is illustrated in figure 3 and outlines three stages that transform a preorganisation into a new organisation. Figure 3: Network Model Of Organisation Formation (Larson & Starr, 1993:7) ENTREPRENEUR INDIVIDUALS 1. Focus on essential dyads • Contracting • Expanding • Culling TRANSFORMATION PROCESS 2. Converting dyadic ties to socio-economic exchanges • Exploration • Engagement 3. Layering the exchanges • Multiple functions • Integration activities • Organisational + individual Levels of exchange Network Crystallisation = Organisation formation ORGANISATION & ENTREPRENEUR ORGANISATIONS & INDIVIDUALS According to Larson & Starr (1993), the outcome of the staged model of networking is the crystallization of an individual/organisational network made up of a critical mass of dyads that Issue Number 7, May 2003 Page 29
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ITB Journal-May-2003 - Institute of Technology Blanchardstown

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