Towards a Process Model of Independent Growth Firm Creation

Abstract

This paper outlines a theoretical model of the broad entrepreneurial process that takes place during founding episodes that lead to the creation of independently-owned, new growth firms. The model outlines four broad stages, containing fourteen major steps that map the entrepreneurial behavioural process pursued during founding episodes of new growth firms. The model was developed from a synthesis of theory and the growth firm creation experiences of the authors.The process model has been used by the authors to guide the learning of more than 2,200 undergraduate and postgraduate university students in Australia studying the entrepreneurial process of creating new growth firms. Student feedback suggests high levels of acceptance and satisfaction with the model as a guide to understanding the entrepreneurial process.