Obstacle Identification

Anticipating obstacles in new venture management is the act of recognizing potential obstacles to the creation and growth of a new venture prior to the obstacles having a negative effect on the organization. Whereas anticipating obstacles requires an understanding of possible future events, it also makes possible preemptive decisions and actions that may mitigate the negative affect of obstacles. If anticipation is timely and the decisions made and the actions taken are sound, then the management of the new venture may be able to avoid or overcome the obstacles altogether. In contrast, identifying obstacles once they are encountered requires an accurate analysis of the current situation and calls for understanding the obstacles and responding to them quickly and effectively. The discussion that follows provides a ...