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The art of discovering and exploiting unexpected opportunities: The roles of organizational improvisation and serendipity in new venture performance

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  • Fultz, Andrew E.F.
  • Hmieleski, Keith M.

Abstract

This study examines a model linking organizational improvisation with new venture performance, via serendipity, at varying levels of resource constraints and informal organizational structure. Results from a national sample of 326 startups, based throughout the United States, indicate that the association of improvisation with serendipity is greatest when resource constraints are high, and—in turn—that serendipity is positively related to new venture performance when informal organizational structure is high. These findings highlight novel pathways and contingencies through which improvisation may prove to be a resourceful means for startups to identify new opportunities and gain performance advantages.

Suggested Citation

  • Fultz, Andrew E.F. & Hmieleski, Keith M., 2021. "The art of discovering and exploiting unexpected opportunities: The roles of organizational improvisation and serendipity in new venture performance," Journal of Business Venturing, Elsevier, vol. 36(4).
    • Handle: RePEc:eee:jbvent:v:36:y:2021:i:4:s0883902621000318
    DOI: 10.1016/j.jbusvent.2021.106121
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    3. Nguyen, Minh-Hoang & Le, Tam-Tri, 2021. "Serendipity as a strategic advantage," OSF Preprints 7dv8j, Center for Open Science.
    4. Stéphane Robin, 2023. "Free musical improvisation as an alternative model for organization," Working Papers hal-04080990, HAL.
    5. Ting Yu & Xueling Li, 2022. "RETRACTED ARTICLE: The relationship between organizational improvisation and economic performance by moderating effects of regional economic level, market environment and cultural background: a meta-a," Operations Management Research, Springer, vol. 15(3), pages 965-982, December.

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