To tap required resources, entrepreneurs need to build credibility and legitimacy in the marketplace of resources and talent. Influence and persuasion can help entrepreneurs build their case for securing scarce resources for their venture.
Both choosing a physical location and operating as a virtual organization are viable options for a firm today. We examine the benefits of joining a cluster of interconnected enterprises operating within a geographic region. All firms need to create a plan for outsourcing functions while maintaining critical functions within the firm. As firms strive to be innovative and competitive, they seek to control costs by outsourcing functions to those who can do them better and cheaper. However, these firms are challenged to retain the cohesion and coordination required to effectively manage these supplier partners.