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Team Formation

The document discusses team formation for new ventures and startups. It states that most new entrepreneurial firms are founded by teams, not individuals. When forming a team, founders are influenced by the uncertainty of success, lack of structure and cultural norms in a new venture. They rely on social networks like friends, family and colleagues. Forming a team provides benefits like increased creativity, ability to leverage complementary skills, and bonding. However, teams must have trust and cohesion to fully realize these benefits.

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Vanesaa
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149 views

Team Formation

The document discusses team formation for new ventures and startups. It states that most new entrepreneurial firms are founded by teams, not individuals. When forming a team, founders are influenced by the uncertainty of success, lack of structure and cultural norms in a new venture. They rely on social networks like friends, family and colleagues. Forming a team provides benefits like increased creativity, ability to leverage complementary skills, and bonding. However, teams must have trust and cohesion to fully realize these benefits.

Uploaded by

Vanesaa
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Technopreneurship

Week 4
Team Formation

Academic literature has found the majority of new


entrepreneurial firms, ventures and start-ups are founded
not by individuals, but by teams (Klotz, Hmieleski, Bradley,
& Busenitz, 2014; Beckman, 2006) .
New Ventures
New Ventures
● face a high uncertainty of
success
● lack organizational structure
● Lack ofcorporate cultural norms
Team Formation
The decision to form a team is greatly influenced by the uncertainty of the new venture’s
outcomes

the choice to cooperate with others and the shared interest,

encouragement and value orientation among potential team members

(Harper, 2008; Forsström-Tuominen, Jussila, & Goel, 2017). The interdependence


among team members is critical for the successful formation of a new entrepreneurial
team (Harper, 2008).
Team Formation

Research demonstrates that founders often rely on their :

social capital and networks of friends,

family members and work colleagues when forming co-founder relationships to


develop new entrepreneurial teams

(Reynolds, Bygrave, Autio, Cox, & Hay, 2002; Aldrich & Kim, 2007)
Benefits of operating as a TEAM
-increased creativity and idea creation;

-the ability to complement team members’ skills and compound existing skills;

-and, the ability to create and form meaningful bonds (Gundry, Ofstein, & Monllor,
2016; Kollmann, Stöckmann, Meves, & Kensbock, 2017).

These benefits, however, are not guaranteed. An entrepreneurial team plagued


with a lack of trust and cohesion – which often lead to high turnover – will struggle
to fully capture the positive effects of the team.
Your next assignment is to

Create your own biography


“student biography”

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