Top management teams and pioneering: a resource-based view

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Abstract
Pioneering, the capactiy of the firm to develop new products ahead of rivals, is an important attribute in high velocity environments. In this paper we advance a four stage process model of pioneering behaviour in top management teams. These stages include opportunity recognition, decision making, product innovation and market launch. We link various top team characteristics to each stage and hypothesise relationships. The model is tested using data gathered from high technology firms in Ireland and the USA. We find support for the proposition that top teams characteristics affect pioneering behaviour. In particular, firms with the highest proportion of research and development and marketing personnel exhibit the highest rates of pioneering. Stock options were also found to motivate pioneering behaviour.