| Abstract: | A steady supply of entrepreneurs who will build the growth firms of the future has always been seen as fundamental to the economic health of a country. However, as companies have grown to the point where many have balance sheets larger than many countries, the role of the Top Management Team in managing these corporate giants has also received more prominence. Unfortunately, research into the two groups of current entreprenurs and large corporation managers has been both sparse, and has followed different, though parallel, paths. This research examines their backgrounds and asks the question whether the basic assumption that they are, in fact, different is correct—who are the high flying entrepreneurs, and are they any different from successful corporate leaders?Data was drawn from three sources. A questionnaire was sent to the 167 founders listed in the July 1984 edition of Venture Magazine as the “Venture 100”—“the nation's top entrepreneurs who run the companies they founded in the past ten years”. Sixty-seven useable replies were received from 40% of the founders and 52% of the companies. Comparative data was extracted from the “Korn Ferry's International Executive Profile: A Survey of Corporate Leaders” which surveyed five senior executives from each of the Fortune 500 companies. A response rate of 47% was received from a survey of 3640 executives. Further comparative analysis was extracted from the characteristics of senior executives of all firms in five selected industries (Dairy, Mobile Homes, Tires, Footwear, and Machine Tools) as listed in Duns Reference Book of Corporate Management 1983/1984. Data was collected on personal characteristics (age, family background, and education), previous employment experience, managerial style, and work patterns.The null hypothesis of there being no significant difference between high flying entreprenurs and their counterparts in the largest U.S. corporations was not sustained. Whereas certain characteristics showed similar patterning—previous employment experience, managerial success traits—the remaining variables demonstrated significant differences. The entrepreneurs were younger, better educated, had more international experience, and worked harder than their corporate colleagues. If replicated elsewhere, the results of this study have particuloar implications for the type of educational and employment experience necessary to affect the supply of the entrepreneurs of the future. |
