Presenting the development model of technological start-ups in companies admitted to the Tehran Stock Exchange for the dynamics of extra-organizational management mechanisms

Subject Areas : Corporate Finance

Pezhman Hajatpoor ¹ , saber Mollaalizadeh Zavardehi ² , Allah Karam Salehi ³

1 - Management Department,Masjed-Soleiman Branch, Islamic Azad University, Masjed-Soleiman, Iran.
2 - Department of Industrial Engineering, Masjed-Soleiman Branch, Islamic Azad University, Masjed-Soleiman, Iran.
3 - Department of Accounting, Masjed-Soleiman Branch, Islamic Azad University, Masjed-Soleiman, Iran.

Received: 2023-03-07 Accepted : 2023-06-11 Published : 2024-03-20

Keywords: Dynamic outsourcing management mechanisms, Start-ups, Technological start-ups,

Abstract :

Purpose: Organizations today operate in an uncertain, complex, and rapidly changing environment that necessitates the development of capabilities and capacities for competitive advantage. The aim of this research is to present a model for the development of technological startups to enhance the dynamics of extra-organizational navigation mechanisms. Methodology: The research adopts an exploratory objective and a mixed-method approach (qualitative-quantitative). The qualitative research population consists of experts and top managers of industrial companies listed on the stock exchange, with 20 purposively selected participants, and sampling continued until theoretical saturation was achieved.Within the quantitative segment, the sample comprises 500 individuals drawn from the academic faculty, senior executives, middle managers, and industry experts associated with firms listed on the Tehran Stock Exchange. The sample size of 217 individuals was determined using Cochran's formula for the period spanning 2012 to 2022. Findings: The results indicate that constraints on financial resources (research and development budgets) and risk-sharing, the transition towards the digital economy synchronized with regional and global developments, market penetration processes, increasing competitiveness, and the formation of an economic scale for product development, as well as social and cultural transformations such as the emergence of an educated middle class, underscore the necessity of strategic thinking in organizations commensurate with changes in the operating environment as key factors in the development of startups. Moreover, contextual and intervening factors include 10 and 5 categories, respectively, comprising macroeconomic conditions and constraints in attracting foreign investment, and the inherent complexity of innovation and commercialization, especially in advanced technology domains. Furthermore, strategies encompassing 16 components, including adopting an agile startup approach and risk-taking and crisis management. Additionally, consequential categories include creating value for businesses following a market-oriented approach through resource integration and product development. In the quantitative section, the conceptual research model was tested, and the research hypothesis was confirmed. Originality/Scientific Contribution: The research findings can contribute to enhancing competition among companies listed on the stock exchange, and it is expected that the establishment of extra-organizational navigation mechanisms will effectively assist in the implementation of the board of directors' tasks and compliance with legal requirements.

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