Growing pains: Paradoxical tensions and vicious cycles in new venture growth
通过对一家英国电信公司的案例研究，揭示了新创企业高速成长中因探索与利用的矛盾张力而引发恶性循环的驱动因素，包括循环起源者和循环维持者，并挑战了传统的阶段式成长模型。
In this article, we explore how paradoxical tensions related to exploration–exploitation dynamics may shape vicious cycles in high-growth ventures. Based on an inductive, interpretive case study at a telecommunications firm in the United Kingdom, we identify a set of drivers through which vicious cycles may emerge and persist over time. While some drivers are associated with originating the vicious cycle (cycle originators), others are associated with sustaining it (cycle perpetuators). Cycle originators identified in the study include tradeoff cognition, structural separation, and a structural leadership void. Cycle perpetuators include intergroup tensions, ineffectual integration, and a temporal leadership void. We show how the interplay between these drivers in a self-reinforcing process culminates in the escalation of tensions and a political turnover (cycle climax). In the field study, we observe the operation of this pattern over two full cycles. Based on the findings, we develop a framework relating paradoxical tensions to vicious cycles in new venture growth. We conclude by challenging traditional stage-based conceptualizations of new venture growth, and by discussing the implications of our study for research on the linkages between organizational paradox, ambidexterity, and venture growth theory.