The Life-cycle Revisited: Stage Transitions and the Failure of the Iridium Project

In order to provide a clearer picture of the innovation life-cycle this study focuses upon the stage transitions themselves. Specifically it seeks to go beyond existing uses of life-cycle (or developmental stage) models by exploring when and why ventures shift from one stage to another. Employing a novel narrative and textual analysis system, this study detects patterns that connect stages transitions with basic themes in the public narrative of high visibility ventures (in this case the Iridium Project.). These connections not only re-confirm the existence of a life-cycle pattern, they provide a glimpse into the role that stage transitions play in the success or failure of new ventures. They also facilitate the construction of a true process model of organizational and entrepreneurial life-cycles.