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Table6.2. A project typology
High value
HIGH POTENTIAL
‘BIG GAMBLE’
LOW POTENTIAL
‘DEAD-END’
High risks
accessibility of the necessary resources, aid and support structures, opportunities and threats, etc.). Throughout the project development process, individuals will there- fore need to work on the global coherence and acquire the necessary knowledge, set up new partnerships, constitute a team, increase organ- isational slack, convince and get new favourable players involved.
A project typology: from ‘big gamble’ to ‘dead-end’
I have identified four types of projects according to the value and risk variables (presented in Table 6.2). Low development potential projects imply low risk as well as low value. Entrepreneurs try to create a self-employment structure and/or manage a small team. Their management style is centralised and often informal. It is essential for the entrepreneur to know the job and the activity sector well. Management is simple; it relies on common sense and pragmatism. The entrepreneur must work very hard. The business may start small, and the entrepreneur should be careful with struc- ture expenses and investments. This type of project may also concern technological businesses. Thehighdevelopmentpotentialprojectinvolveslowriskandoffersa high value potential. Entrepreneurs in this configuration are innovative and ambitious; they do not necessarily have a lot of capital; they know how to delegate and motivate a team. These types of entrepreneurs are rather open-minded, know how to develop social networks, and are willing to open their capital. In this case, it is also possible to start small in a garage, but it is crucial to move fast and close the strategic win- dow to get effective protection. It is essential to sell fast, to get a large share of the market and to build a strong relationship with customers.