The paradox of resource availability and the perception of resource adequacy: the roles of psychological capital, perceived stress and age in the innovation process

Abstract

ABSTRACTTechnology development usually occurs in a complex and dynamic environment, whether it is corporate venturing or a start-up. To increase the likelihood of success, a better understanding of resource requirements for new product development (NPD) and venture creation is needed. Prior research is contradictory: some development projects succeed with an overabundance of resources, while others succeed with constraints. This article addresses the relationship between resource availability and perceptions of resource adequacy. A conceptual model is proposed that links entrepreneurial judgment to resource perceptions. Psychological capital (PsyCap) is proposed as a moderator of entrepreneurial perceptions, with perceived stress and age as mediating variables. The article generates research implications for entrepreneurship, proposing new variables that affect new product and new venture initiatives. These issues are at the marketing/entrepreneurship interface, since they affect innovation and the product mix as industry conditions shift and NPD becomes critical for the success of product management.