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Article
Publication date: 22 January 2018

Karen Williams Middleton and Pamela Nowell

Effective internal dynamics of new venture teams is seen as a key contributor to venture success. The purpose of this paper is to investigate the ways in which new venture teams

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Abstract

Purpose

Effective internal dynamics of new venture teams is seen as a key contributor to venture success. The purpose of this paper is to investigate the ways in which new venture teams consisting of nascent entrepreneurs initiate trust and control during venture emergence.

Design/methodology/approach

Dimensions of trust and control are developed into an analytical framework applied to documented team norms. Coding detects frequency of trust and control dimensions. Supplementary data triangulate findings and explore follow-on effects in team dynamics and venture emergence.

Findings

Frequency of coded dimensions generates a venture team profile. Teams prime their dynamics through use of trust and/or control language in documented norms. Priming is seen to influence entrepreneurial perseverance during venture emergence, stemming either directly from team dynamics, or indirectly from key shareholder relationships or environmental conditions.

Research limitations/implications

Data are bounded to a specific contextual setting representing incubation and education, where the nascent entrepreneurs are simultaneously students. The complexity of venture emergence means that multiple factors influencing new venture teams may influence trust and control in ways currently unaccounted for.

Practical implications

Exploration of trust and control during venture emergence emphasizes soft-skills critical to entrepreneurial perseverance and venture success. Team norms can be designed to prime toward trust or control, and can be indicative of teams’ sensitivity to external factors, enabling evidence for intervention.

Originality/value

The paper illustrates ways in which trust and control influence team dynamics during venture emergence.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 24 no. 4
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 9 June 2021

Iselin Mauseth Steira and Marianne Steinmo

The purpose of this study is to explore how effective new venture teams are developed in venture creation programmes.

Abstract

Purpose

The purpose of this study is to explore how effective new venture teams are developed in venture creation programmes.

Design/methodology/approach

This paper presents a multiple case study focusing on the development of effective new venture teams. Semi-structured interviews with 15 new venture teams from two different venture creation programmes were conducted and an abductive analysis approach was used.

Findings

Three key phases of the development of an effective new venture team are identified: (1) establishing a foundation for collaboration, (2) structuring the teamwork and (3) adapting to changes. Key activities undertaken by effective new venture teams in each phase are explicated. The findings suggest that new venture teams that are able to establish a foundation for team collaboration and teamwork structuring have the capacity to persevere through the challenges inherent in emerging ventures.

Originality/value

This study offers a much-needed practical perspective about how effective new venture teams are developed in venture creation programmes, and how venture creation programme educators can facilitate the development of effective new venture teams. For educators, these findings provide important insights about team-based learning in entrepreneurship education.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 5
Type: Research Article
ISSN: 1355-2554

Keywords

Book part
Publication date: 28 August 2020

Sid Hanna Saleh and Richard A. Hunt

When entrepreneurs create new ventures, they struggle with making consequential decisions under severe restrictions such as tight deadlines, limited resources, and lack of…

Abstract

When entrepreneurs create new ventures, they struggle with making consequential decisions under severe restrictions such as tight deadlines, limited resources, and lack of information. Making challenging decisions inherently requires creativity as entrepreneurs improvise and work around the limitations they face. Under these conditions, entrepreneurs resort to their heuristics and biases instead of rational decision models. Entrepreneurs employ – sometimes for better and sometimes for worse – a myriad of rule-setting heuristics and experience-based biases to navigate the difficult path between novelty and utility. In this chapter, the authors answer Shepherd, Williams, and Patzelt’s (2015) call for research into how entrepreneurs leverage heuristics and biases in decision-making and the benefits they gain as a result. The authors explore how entrepreneurs introduce heuristics and biases at different stages of their decision-making process using a qualitative study of 21 new ventures. The results attest to entrepreneurs’ ingenuity and creativity in managing complexity, ambiguity, and uncertainty.

Details

The Entrepreneurial Behaviour: Unveiling the cognitive and emotional aspect of entrepreneurship
Type: Book
ISBN: 978-1-78973-508-6

Keywords

Article
Publication date: 19 October 2022

Robert J. Pidduck, Thomas K. Kelemen and Mark C. Bolino

The authors advance a model theorizing how new ventures elicit citizenship behaviors to cultivate dynamic capabilities that help bolster survival in their nascent years of…

Abstract

Purpose

The authors advance a model theorizing how new ventures elicit citizenship behaviors to cultivate dynamic capabilities that help bolster survival in their nascent years of operations—a characteristically resource-scarce and turbulent context.

Design/methodology/approach

Drawing on and integrating research on citizenship behaviors with dynamic capabilities, the authors develop a theory that new ventures that are better able to evoke a combination of affiliative and challenging citizenship behaviors from their wider entrepreneurial team (i.e. internal, and external stakeholders) are more adept at mitigating the liabilities of smallness and newness. As these behaviors are spontaneous and not explicitly remunerated, new ventures become stronger at utilizing their limited resource base for remaining lean and agile. Further, key boundary conditions are theorized that the sociocultural norms the venture is embedded within serve to heighten/attenuate the degree to which entrepreneurs can effectively cultivate dynamic capabilities from their team's “extra mile” behaviors.

Findings

The propositions extend a rich body of research on citizenship behaviors into the new venture domain. As all new ventures face the challenge of overcoming liabilities of newness, models that help understand why some are more adept at overcoming this and why others fail, hold substantive practical utility.

Originality/value

This research is the first to unpack how citizenship behaviors manifest among an extended range of stakeholders traditionally overlooked in new venture teams research and the mechanism for how this links to venture survival.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 7
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 8 May 2019

Fernando Muñoz-Bullón, Maria J. Sanchez-Bueno and Mattias Nordqvist

The purpose of this paper is to investigate how family ties in new venture teams (NVTs) influence the intended future growth of a nascent entrepreneur’s business. The authors…

Abstract

Purpose

The purpose of this paper is to investigate how family ties in new venture teams (NVTs) influence the intended future growth of a nascent entrepreneur’s business. The authors posit that R&D-oriented entrepreneurs in NVTs with family ties have higher growth intentions relative to those who are less oriented toward R&D.

Design/methodology/approach

The hypotheses were tested using data from the Panel Study of Entrepreneurial Dynamics II (PSED II). One distinctive feature of the PSED is that it is based on a random sample of 1,214 nascent entrepreneurs in the process of starting new ventures in the USA, which overcomes the recall biases associated with surveying entrepreneurs already in business and potential survivorship biases.

Findings

The results show that growth intentions in NVTs with family ties is greater when the nascent entrepreneur shows an R&D behavior, even though the presence of family members in the team is negatively related to the intentions of nascent entrepreneurs with regard to new venture growth. This effect is attributed to entrepreneurs’ long-term vision and a more favorable attitude toward change.

Research limitations/implications

Data on startup teams in the PSED II come from one team member (the respondent). Therefore, differences in perceptions regarding growth intentions cannot be determined. Moreover, the sample consisted exclusively of nascent entrepreneurs in the USA.

Practical implications

Knowledge about the determinants of growth intentions during the venture creation phase becomes relevant if we want to influence and support the growth of newly founded firms. Nascent entrepreneurs need to understand the trade-off between emotional and financial concerns.

Social implications

Nascent entrepreneurs more oriented toward R&D become more risk tolerant, and may accept certain losses to their emotional endowment in favor of pure financial goals, being more able to access the additional external resources (tangible and intangible) needed for growth.

Originality/value

The research expands previous evidence on the family involvement-performance debate in large firms by focusing on new ventures with family ties, with distinctive characteristics that may affect growth intentions. The authors also shed new light on the interplay between family business and entrepreneurship. In particular, the research helps gain an understanding of how NVTs with family ties deal with the opposition between the benefits from venture growth and the tendency to preserve team member’s emotional attachment.

Details

Management Decision, vol. 58 no. 6
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 4 July 2017

Ming-Huei Chen, Yu-Yu Chang and Yuan-Chieh Chang

Cognition, conflict and cohesion constitute an inseparable body of group dynamics in entrepreneurial teams. There have been few studies of how entrepreneurial team members…

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Abstract

Purpose

Cognition, conflict and cohesion constitute an inseparable body of group dynamics in entrepreneurial teams. There have been few studies of how entrepreneurial team members interact with each other to enhance venture performance. The purpose of this paper is to develop and test a model that explains the trinity of cognition, conflict and cohesion in terms of social interaction between entrepreneurial team members.

Design/methodology/approach

Drawing upon the existing literature concerning entrepreneurial teams, the hypothesized model posits that shared cognition influences team cohesion through the mediating effects of intra-team conflicts. The model also postulates that team cohesion is positively associated with new venture performance and entrepreneurial satisfaction. Structural equation modeling is used to test the hypothesized model, using data that were collected from 203 entrepreneurial teams from technology-based companies in Taiwan.

Findings

The results show that shared cognition in entrepreneurial team members maintains team cohesion by restraining conflict and that team cohesion has a positive influence on entrepreneurial members’ satisfaction and new venture profitability.

Practical implications

The leader of a new venture team must endeavor to improve shared cognition between entrepreneurial members. To strengthen shared cognition, the leader can hold formal workshops to build consensus, informal meetings to share views, or use social media to enhance common understanding.

Originality/value

This paper verifies the connections between shared cognition, conflicts and cohesion in entrepreneurial teams in predicting new venture success and highlights the importance of cultivating a shared cognition in an entrepreneurial team to manage conflicts.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 23 no. 6
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 3 August 2015

Wencang Zhou, Huajing Hu and Michael Zey

First, using the task-relationship dichotomy as a framework, the purpose of this paper is to examine the direct effects of team personality level and team personality diversity on…

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Abstract

Purpose

First, using the task-relationship dichotomy as a framework, the purpose of this paper is to examine the direct effects of team personality level and team personality diversity on new venture growth. Second, the study examines the interaction effects of team personality level and diversity on venture growth.

Design/methodology/approach

The sample consisted of 154 teams in a technology incubator in China. Data were collected through an online survey.

Findings

Results indicate that high level but low diversity of team task-oriented personality was beneficial for new venture founding teams. Diversity of team task-oriented personality would hurt the new venture growth more when the level of task-oriented personality was low. Relationship-oriented personality diversity, but not the level of relationship-oriented personality, influenced new venture growth.

Research limitations/implications

These findings advance research in entrepreneurship, groups, and teams, and provide practical policy implications as well.

Practical implications

This study provides practical implications for policy makers regarding what supports should be provided in incubators and for entrepreneurs regarding team member selection.

Originality/value

This is one of the first papers to study the personality composition of new venture founding teams.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 21 no. 5
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 11 May 2012

Ellen Enkel and Sanjay Goel

Since corporate ventures operate under the organizational conditions of a parent company, this article aims to highlight key conditions influencing the success of a new venture.

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Abstract

Purpose

Since corporate ventures operate under the organizational conditions of a parent company, this article aims to highlight key conditions influencing the success of a new venture.

Design/methodology/approach

Two cases of corporate venturing are analyzed regarding their performance since they are characterized by different conditions within one international consumer‐goods company. Hence, the literature on corporate entrepreneurship is reviewed and combined with a case study to explore the role and drivers of organizational conditions in the inception and development of new corporate ventures.

Findings

The case study reveals two key organizational differences pertaining to corporate new ventures — procedural clarity and procedural discipline. These differences mitigate the variety of risks that corporate entrepreneurs face and smooth or hinder their way to evolve their venture from ideas to business.

Research limitations/implications

As the study includes two venturing cases within the same company in the fast moving consumer goods industry (FMCG), the findings are so far limited to the characteristics of this company type and its sector.

Practical implications

This article supports mid‐level managers to run corporate ventures more successfully by introducing a clear action plan with well defined phases. Individual managers' impact should be limited and linked to a more objective network‐structure.

Originality/value

In contrast to previous literature, this paper highlights the influence of organizational conditions under which corporate ventures are initiated and operated. Additionally, there are further factors identified, the ventures' internal visibility, and the knowledge support by the parent company, which will influence the venture's success or failure.

Details

Journal of Business Strategy, vol. 33 no. 3
Type: Research Article
ISSN: 0275-6668

Keywords

Book part
Publication date: 4 January 2012

Pauric McGowan and Sarah Cooper

Encouraging technology-based entrepreneurship is central to the policy agendas of governmental and non-governmental economic development agencies in many industrialised and newly…

Abstract

Encouraging technology-based entrepreneurship is central to the policy agendas of governmental and non-governmental economic development agencies in many industrialised and newly industrialising countries. Entrepreneurs are central to venture creation and evidence indicates that, following secondary and, typically, tertiary education, most work for one or more employers prior to establishing a technology-based venture on their own or with others. As a result of this ‘entrepreneurial apprenticeship’ many technology entrepreneurs establish businesses in their mid-to-late 30s. Developing a thorough understanding of product/service markets and devising strategies to access, serve and support customers are major challenges for founders of technology-based businesses. Ventures established by individuals or groups with relevant commercial experience benefit from the know-how and networks of their founders. This chapter explores the role of university business plan competitions in stimulating entrepreneurial activity and technology transfer from two universities in Northern Ireland by focusing on entrants in the 2007 £25k Enterprise Award Scheme business planning competition. Such initiatives tend to attract students/recent graduates and members of university staff and raise the question as to how such teams develop commercially robust ventures, given that, on the face of it, most have little or no commercial experience. Based on analysis of the business plans of the top 10 ventures from the 2007 competition this chapter explores characteristics of the entrepreneurial teams, their choice of product/service offerings and aspects of the markets they target.

Details

New Technology-Based Firms in the New Millennium
Type: Book
ISBN: 978-1-78052-118-3

Article
Publication date: 1 January 1997

Devi R. Gnyawali and John H. Grant

Despite the growing body of literature on both organizational learning (OL) and corporate venture development (CVD), very few attempts have been made to establish connections…

Abstract

Despite the growing body of literature on both organizational learning (OL) and corporate venture development (CVD), very few attempts have been made to establish connections between these two literature streams. While existing literature provides some evidence that OL may facilitate the process of CVD, several interesting research issues remain unexamined. We know very little about (a) what type of learning processes are effective at various stages of CVD; and (b) whether and how knowledge created through various OL processes enhances venture performance. These research issues are examined in this paper by integrating the literature from OL and CVD. We develop a conceptual model that integrates organizational learning with the antecedents and outcomes of CVD. We argue that (a) organizational learning in CVD occurs through two distinct and yet complementary processes; (b) productive organizational learning occurs when organizations vary their emphases on different types of learning depending upon the stages of CVD; and (c ) different types of learning are associated with different types of venture outcomes. Propositions are developed and implications are discussed to facilitate empirical research.

Details

The International Journal of Organizational Analysis, vol. 5 no. 1
Type: Research Article
ISSN: 1055-3185

1 – 10 of 247