We investigate the relationship between outside board members (OBMs) and short- versus long-term strategic orientation of new ventures in the startup phase. Owing to their smallness and newness, a short-term orientation may be more desirable. Using a dataset of 170 Belgian new ventures in the startup phase, we find a positive association between the proportion of OBMs and a short- rather than long-term strategic orientation, attributed by our interviewees to concern for firm survival. This association is stronger in new ventures operating in highly competitive environments, and where the founding team performed few pre-startup activities. Greater focus on the short-term may be beneficial in the long run, as a positive association is found between a high relative short-term orientation and ventures' growth.

中文翻译：

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新创企业初创期外部董事及战略定位

我们调查了外部董事会成员 (OBM) 与新企业在启动阶段的短期与长期战略方向之间的关系。由于它们的小和新，短期定位可能更可取。使用 170 家处于初创阶段的比利时新企业的数据集，我们发现 OBM 的比例与短期而非长期战略方向之间存在正相关关系，我们的受访者将其归因于对公司生存的关注。在竞争激烈的环境中运营的新企业中，这种关联更为强烈，而且创始团队很少进行创业前的活动。从长远来看，更多地关注短期可能是有益的，因为在相对较高的短期导向与企业增长之间存在正相关关系。