entrepreneural team

Topics: Team, Cognition, The A-Team Pages: 6 (3612 words) Published: October 27, 2014

Entrepreneurship
Yipeng Liu
Module Code: CB887
Seminar Group:
Surname: CarikciFirst Name: Cetin
Programme of Study: MBA
Login: CC490
Student Number: 13900624
Declaration: I confirm the work submitted is entirely my own and have fully referenced my sources as appropriate. I am aware of the penalties for plagiarism. Date: 07/04/2014
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Contents
TOC \o "1-3" \h \z \u INTRODUCTION PAGEREF _Toc384631687 \h 2ENTREPRENEURIAL TEAMS PAGEREF _Toc384631688 \h 2ENTREPRENEURIAL TEAMS AND VENTURE PERFORMANCE PAGEREF _Toc384631689 \h 3THE EXPLANATION OF ENTREPRENEURIAL TEAM EFFECTIVENESS PAGEREF _Toc384631690 \h 3Environment. PAGEREF _Toc384631691 \h 4Communication. PAGEREF _Toc384631692 \h 5Team composition. PAGEREF _Toc384631693 \h 5Demography. PAGEREF _Toc384631694 \h 6Cognitive Characteristics. PAGEREF _Toc384631695 \h 7Conflict. PAGEREF _Toc384631696 \h 8SUMMARY PAGEREF _Toc384631697 \h 9REFERENCES PAGEREF _Toc384631698 \h 9 INTRODUCTIONEmphasizing on theoretical approach to the tropic of entrepreneurial teams, I suggest a wide definition of entrepreneurial teams in this paper. Then, I show the linkage between entrepreneurial teams and their effectiveness to venture performance. The subject of entrepreneurial team effectiveness and performance are analyzed and studied on its antecedents. These subjects are the environment, communication, power and politics, creating team , and demographic characteristics. The essay especially indicates that the importance of including cognitive characteristics to composition of entrepreneurial teams. According to the physiologist, Carl Gustav Jung there are four stages we go through during our lifetime. Based on his theory, any lack of one of these four stages limits the team's effectiveness and the business performance as well. Starting a new business is not easy, especially when considering the skills, knowledge, capabilities, and the amount of time we are spending on the new venture. These factors are very critical to take the business to the future and make it successful. Recent and previous research have shown that there is a strong link between the entrepreneurial teams and the business success. ( Kamm, Shuman, Seeger, & Nurick, 1990 ; Watson, Ponthieu, & Critelli, 1995). And also research indicates top executive management has a greater influence on the venture's overall performance. (Glick, Miller, & Huber, 1993). The idea of opening a new night club, The Three Hundred, created by six persons. We all come from different countries with a rich diversification of industry and education background, demographic characters. Each member of the venture is specialized in different industry such as finance, customer relationship, media, operation management, business owner, and sales management. These heterogenic composition of the team will enhance the entrepreneurial team's effectiveness, and in turn, venture performance. Cooper and Daily (1997 :144) summarize it in one sentence for us " Entrepreneurial teams are at the heart of any new venture". Cooper and Bruno(1977) suggest that team operated new businesses are much successful that single owned ventures. So it is very important to study and reveal the importance of the entrepreneurial effectiveness on venture performance. This paper will help to define entrepreneurial teams, link it to the effectiveness and its impact on venture's success. ENTREPRENEURIAL TEAMSThe research on Entrepreneurial teams has not made any definition. Hambrick (1994) argues that top management team is not a team but a group of individuals with different managerial responsibilities. Robbins (1993:285) establish a definition of group as two or more people come together to achieve a determined goals. According to Cooper and Daily(1997), entrepreneurial teams is not just a group but more than that because it also involves all team member commitment to new venture. So accountability for the new venture should be shared by the...

References: mason, A.C. & Sapienze, H.J. (1997). The effects of top management team size and interaction norms on cognitive and affective conflict. Journal of Management, 23, 495-516
Chandler, G. N. & Hanks, S. H. (1993). Measuring the performance of emerging businesses: A validation study. Journal of Business venturing, 8, 391-408.
Cooper, A. C. & Daily, C. M. (1997). Success among high- technology firms. Business Horizons, 20, 16-22
Eisenhardt, K. M. ,Kahwajy, J. L. , & Bourgeois III, L. J. (1997). How management teams can have a good flight. Harvard Business Review, 75, 77-85.
Chackravarthy, B. S. (1986). Measuring strategic performance. Strategic Management Journal, 7, 437-458
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