New management concept as blue ocean has been implemented in virtual organization with people management

Innovative start-ups are discovering, developing and commercializing many new technologies.

Nevertheless, the success of these start-ups typically depends on the effective application of many well-established management concepts. Henri Fayol wrote about the general principles of management more than century ago. Planning, organizing, coordinating and controlling are essential to business success today just like they were to companies in the early 1900s.

Admittedly, the nature of these activities has changed as we experience a faster-changing environment. For example, the leaders of many technology start-ups that we have studied create visions and conduct scenario and/or contingency planning instead of spending the time and effort to formulate a classical long-term strategic plan.

There is no doubt that it has become harder to predict the environment. The leaders of companies with genuinely disruptive technologies can apply relevant management concepts to shape their own future. Other start-ups will have to adapt to inevitable changes. Their managers will have to monitor or scan the environment in order to identify emerging threats and opportunities.

According to statistical data, on average 1 startup per 10 achieves spectacular success and develops dynamically for a minimum period of several years. 2-3 somehow manage, but without major successes, and the remaining 7 after a year or two years end their activities for various reasons. This statistic may differ slightly between regions and countries depending on external financing assistance programs, organizational support from business incubators, etc. However, a small part of opened startups has been functioning for more than 2 years and has achieved great success in the scope of offer development, business run, participation in the acquired markets, the sale of a specific offer of innovative products or services and achieves financial success, which provides development opportunities.

In view of the above, what are the key success factors for the development of innovative startups? Is the idea for an innovative product or service the most important? Is the innovative technology on the basis of which new products or services are manufactured? Are convenient sources of external financing? Is a well-connected team of founders of a startup? Is a convenient tax system supporting the development of small entrepreneurship and innovation? Are also other factors?

Please reply

I invite you to the discussion

Thank you very much

Best wishes