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Understanding Entrepreneurial Team Decision Making The Antecedents Mechanisms And Outcomes Of New Venture Team Illusion Of Control
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Book Synopsis Understanding entrepreneurial team decision-making: the antecedents, mechanisms, and outcomes of new venture team illusion of control by : Anian Johannes Christoph Gehring
Download or read book Understanding entrepreneurial team decision-making: the antecedents, mechanisms, and outcomes of new venture team illusion of control written by Anian Johannes Christoph Gehring and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entrepreneurial Teams as Determinants of of New Venture Performance by : Michael D. Ensley
Download or read book Entrepreneurial Teams as Determinants of of New Venture Performance written by Michael D. Ensley and published by Routledge. This book was released on 2014-06-03 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a multi-dimensional model of the author's own design, this study explores the effect of entrepreneurial team behavior on both organizational strategy and new venture performance. In line with recent research arguing that the entrepreneur may well be a group and not simply an individual, and to provide a much richer and more widely applicable model, this book examines the entrepreneurial team.
Book Synopsis Decision Making Processes in New Venture Teams. Why motivation has an impact and the consequence for venture success by : Elisabeth Barheine
Download or read book Decision Making Processes in New Venture Teams. Why motivation has an impact and the consequence for venture success written by Elisabeth Barheine and published by GRIN Verlag. This book was released on 2024-01-23 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2020 in the subject Business economics - Company formation, Business Plans, grade: 1,3, Technical University of Munich (Entrepreneurship), language: English, abstract: In this paper, I propose a triangular relationship between entrepreneurial motivation, decision making and success of new venture teams. Based on longitudinal qualitative case studies of six founder teams of technology ventures, I argue that maximizing wealth and maintaining control are the main motivational drivers for strategic decisions of individuals. However, not the individual motivations per se, but the interplay of individual motivations of all team members have an impact on a venture’s strategic decisions. The study discloses that consistent team alignment regarding motivations over time is related to venture success. The implications of this study are discussed in terms of practical imprints. They suggest that further investigation into new venture team motivation and relation to success and decision making is warranted. How do founders’ motivations in new venture teams affect strategic decision making and shape decision making between team members over time? How do the outcomes of these team member interactions affect venture success? To answer these questions, I have employed a qualitative research approach employing grounded theory based on case studies from six ventures. Each team member was interviewed twice with an interval of six months in time difference. The data was then analyzed by applying an inductive coding approach. Based on this, I have discovered four main findings: First, the main strategic motivations of why founders keep running their ventures are either maximizing wealth or maintaining control. These two motivations have a trade-off relationship. Second, a founder who shows a clear preference towards one of the main strategic motivations has highly aligned personal motifs of why she or he wanted to start founding the venture initially. Third, there are several factors within a team that enable highly aligned strategic motivations between all team members. Fourth, teams who strive for one clear strategic motivation are more successful in achieving their goals than teams with entrepreneurs of mixed motivations.
Book Synopsis From Thinker to Doer: Creativity, Innovation, Entrepreneurship, Maker, and Venture Capital by : Yenchun Jim Wu
Download or read book From Thinker to Doer: Creativity, Innovation, Entrepreneurship, Maker, and Venture Capital written by Yenchun Jim Wu and published by Frontiers Media SA. This book was released on 2021-04-21 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis From Start to Finish by : David Scott Noack
Download or read book From Start to Finish written by David Scott Noack and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: While the first two essays focus on the inner workings of new ventures, the third essay examines the decision-making and performance of established firms following firm-level mistakes. Specifically, I test the effectiveness of engaging in corporate social responsibility (CSR), following a negative firm event, as a resource to help mitigate financial damage. By drawing upon normative stakeholder theory, I analyze the CSR decisions of 168 publicly traded firms. I find that the timing, responsiveness, and frequency of engaging in CSR, all positively moderate the damage that negative events have on a firm's financial performance.
Book Synopsis Entrepreneurial Team Formation: The Effects of Technological Intensity and Decision Making on Organizational Emergence by : Brett R. Smith
Download or read book Entrepreneurial Team Formation: The Effects of Technological Intensity and Decision Making on Organizational Emergence written by Brett R. Smith and published by . This book was released on 2007 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation offers a lens to understand the critical processes of organizational emergence by examining the network processes and outcomes in the development of early stage entrepreneurial founding teams. In addition, this dissertation explores the important boundary condition of high technology and its effect on the early stage network processes. Using a mixed methodology approach, this dissertation explores the question of how founders construct organizations. In the quantitative section, panel data is used to explore how the level of technological intensity affects the organizational demography and social network structure of the founding team. Results from logistic regression show the level of technology affects the motives through which founders constructed organizations. Increasing levels of technology are associated with greater demographic diversity and lower density social networks. These findings highlight the role of technological intensity as an important antecedent to organizational demography and social network structure. In the qualitative section, in-depth interviews were conducted with 40 early stage entrepreneurs and team members to explore how the decision making process affects the construction of organizations. Through this analysis, a series of three grounded conceptual models are developed to explain the mutual decision making process of entrepreneurial team formation: (1) the first model highlights the role of individual level factors (e.g., attitude towards networking) and situational factors (e.g., geography) in the identification and screening processes of decision making; (2) the second conceptual model explores the opportunity costs of pursuing different search processes in the identification of team members; and (3) the third model identifies the overall marginal benefits of different search processes after accounting for both the benefits and costs of each search process. Taken together, these models describe how the decision making process affects organizational emergence.
Book Synopsis Antecedents of Entrepreneurial Decision-Making by : Graciela Kuechle
Download or read book Antecedents of Entrepreneurial Decision-Making written by Graciela Kuechle and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics-related prediction strategies and the effectuation-related control strategies are two main competing hypotheses of how entrepreneurs deal with uncertainty in theories of entrepreneurship. In an experimental test, we study the conditions under which prediction and control strategies lead subjects to make a risky bet in ambiguous environments. Individuals who use predictive methods to gain information and mitigate risks are more likely to accept the bet after receiving bad news as compared to those who used control methods. These results revert in the presence of good news. We discuss the theoretical implications of the results for theories of entrepreneurship.
Book Synopsis Towards a Dynamic Model of Founding by : Michael J. Fern
Download or read book Towards a Dynamic Model of Founding written by Michael J. Fern and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do entrepreneurs make strategic decisions during new venture formation? This is an important question because the strategies that entrepreneurs select have critical short- and long-term implications (Eisenhardt and Schoonhoven, 1990). In the short-term, an entrepreneur's strategy choices will affect the new venture's likelihood of survival. In the long-term, the entrepreneur's strategy choices will affect the direction of the new venture's growth as well as its level of competitive advantage within the industry. This phenomenon, whereby initial choices are consequential for a new venture's short- and long-term existence, is termed an "imprinting effect" (Stinchcombe, 1965). The occurrence of imprinting effects has been demonstrated by an abundance of empirical research across a variety of industry settings (e.g., Romanelli, 1989). In some cases, research has even shown that imprinting effects exhibit positive feedback, such that initial choices become more influential over time (Eisenhardt and Schoonhoven, 1990). While a great deal of research has shown the importance of imprinting effects for a new venture's development, there has been relatively little research that explores how entrepreneurs come to the initial decisions that underlie these effects. Although little is known regarding the factors that affect an entrepreneur's strategic decision-making during new venture formation, past evidence points to several factors that may be influential. In particular, past research highlights both factors in the environment (e.g., public policy, competitive pressure, and product technology) as well as factors internal to the new venture (e.g., personality and knowledge of the founder and founding team) (e.g., Shane and Khurana, 2003). In this dissertation I focus on knowledge rather than the environment or personality characteristics for two primary reasons. First, while the nature of the environment can explain general trends within an industry (e.g., overall entrepreneurial activity), it cannot explain why specific individuals respond differently to the same industry environment. Second, the research on personality characteristics has generally yielded mixed results suggesting, at best, a weak relationship between personality traits and decision-making outcomes (Aldrich, 1999). In this dissertation, I examine how an entrepreneur's prior knowledge relates to the strategy choices he/she makes during new venture formation. I also examine how the founding team members affect the entrepreneur's decision-making. I first develop a set of predictions and then test these predictions using data from 120 new ventures in the United States air transportation industry from 1995-2005. In the following pages I present an executive summary that reviews the key predictions and findings from my research. I conclude the executive summary by discussing the implications of my research for practicing entrepreneurs, investors, and public policy.
Book Synopsis Understanding Social Identities and Cognitive Biases in New Venture Teams by : Benedikt Wiechers
Download or read book Understanding Social Identities and Cognitive Biases in New Venture Teams written by Benedikt Wiechers and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entrepreneurial Passion - a Multi-sample Investigation of Antecedents, Mechanisms, and Venture-level Outcomes Along the Entrepreneurial Process by : Martin Ruth
Download or read book Entrepreneurial Passion - a Multi-sample Investigation of Antecedents, Mechanisms, and Venture-level Outcomes Along the Entrepreneurial Process written by Martin Ruth and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entrepreneurial Cognition by : Dean A. Shepherd
Download or read book Entrepreneurial Cognition written by Dean A. Shepherd and published by Springer. This book was released on 2018-01-31 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book investigates the inter-relationship between the mind and a potential opportunity to explore the psychology of entrepreneurship. Building on recent research, this book offers a broad scope investigation of the different aspects of what goes on in the mind of the (potential) entrepreneur as he or she considers the pursuit of a potential opportunity, the creation of a new organization, and/or the selection of an entrepreneurial career. This book focuses on individuals as the level of analysis and explores the impact of the organization and the environment only inasmuch as they impact the individual’s cognitions. Readers will learn why some individuals and managers are able to able to identify and successfully act upon opportunities in uncertain environments while others are not. This book applies a cognitive lens to understand individuals’ knowledge, motivation, attention, identity, and emotions in the entrepreneurial process.
Book Synopsis Entrepreneurial Team Locus of Control by : Mohammad Khan
Download or read book Entrepreneurial Team Locus of Control written by Mohammad Khan and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research shows that usually teams start new ventures or teams are formed in the first few years of an entrepreneurial start-up (Watson et al., 1995). Since majority of high-tech start-ups are founded by entrepreneurial teams (Cooper et al., 1990), understanding of entrepreneurial teams is essential to comprehend the creation of new ventures. Internal Locus of control (LOC), a belief that one has control over their fate (Boone and Hendriks, 2009) as a specific entrepreneurial trait is identified to substantially increase motivation and achieve success (Rauch and Frese, 2007). Within entrepreneurship research personality traits including LOC have been extensively studied at an individual level, however little attention has been given on a team-level of analysis (Weiss and Brettel, 2010). Aim: This paper focusses on internal LOC as a well-established entrepreneurial personality trait at team level. It seeks to determine whether internal LOC at an individual level as a predictor of entrepreneurial success, also predicts success at team level. In addition, it investigates the interaction effects of LOC diversity and affective trust on the internal LOC-performance relationship. Method: Data stems from 44 entrepreneurial teams based in nine business incubators in Austria, comprising of 92 team members. Data was collected by means of a standardized questionnaire. It is seen that correlations between group diversity scores and group outcomes based on partial rather than complete sets of group member attitudes are substantially attenuated (Allen et al., 2007). Hence, the study sample specifically comprised of only fully interviewed teams. Partial Least Squares (PLS) structural equation modelling was used to estimate the model. Results and Conclusion: The findings reveal that higher internal LOC at team level promotes entrepreneurial team effectiveness and efficiency. However, team efficiency is increased when such teams have a high internal LOC and low diversity. Affective trust is identified as a crucial component in enhancing entrepreneurial team effectiveness, especially when the team has a high internal LOC. Implications (Theoretical and Practical): The results shed light on the importance of internal LOC at team level for entrepreneurial team performance, that would help entrepreneurial practice build more effective and efficient teams concerning LOC. Secondly, it systematically analyses how diversity in internal LOC can act as double edged sword for entrepreneurial team efficiency. The paper also takes a pioneering step by employing a key methodological contribution (bias corrected standard deviation) suggested by Biemann and Kearney (2010) to address the inherent bias in measuring diversity of small teams. Finally, it is one of the first studies to show not only the importance of affect in general, but also the trust based on affect for entrepreneurial team dynamics. From a practical standpoint it is important that control beliefs within entrepreneurial teams could be identified through daily interactions and personality surveys. Special sessions could be conducted to analyse and discuss the combined value profiles (like LOC) prevalent in teams, highlighting the important implications on their team-level outcomes.
Book Synopsis Social Influence, Power, and Control by : Katrina M. Brownell
Download or read book Social Influence, Power, and Control written by Katrina M. Brownell and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is well-established that personality can have a significant influence on entrepreneurial behaviors and outcomes. Traditionally, the three personality traits of the Dark Triad have been considered socially undesirable owing to their tendency to evoke behavior that is self-interested, aggressive, entitled, or manipulative. However, research into the relationship between the Dark Triad and entrepreneurship is characterized by conflicting theoretical viewpoints and empirical results. Some scholars adopt the perspective that the unemotional pragmatism and strategic tenacity associated with the Dark Triad will positively influence entrepreneurial outcomes, while others argue that traits linked to selfish and exploitive behaviors will have negative consequences. In this dissertation, I seek to advance scholarly and practical understanding of how the Dark Triad personality traits are linked to social influence and social exchanges within entrepreneurship through three interrelated essays. In the first essay, I conduct a systematic review of the literature through exploratory meta-analysis to take stock of what we know about the darker side of the entrepreneurial personality. In the second essay, I draw on social influence theory to delve deeper into the results of the review, in which I propose that there is an optimal range at which moderate levels of founder Dark Triad traits can contribute positively to performance. And in the third essay, I build upon the empirical results of essay two by integrating social exchange theory to examine the mediating effects of two interaction-based mechanisms on entrepreneurial teams: team innovation and team conflict. Overall, my results indicate that personality effects can differ at moderate and extreme levels of the Dark Triad traits in the context of entrepreneurship, and I find that these effects can be explained by social exchanges that occur throughout new venture creation.
Book Synopsis The Effect of Entrepreneurial Team Skill Heterogeneity and Conflict on New Venture Strategic Orientation and Performance by : Michael Dean Ensley
Download or read book The Effect of Entrepreneurial Team Skill Heterogeneity and Conflict on New Venture Strategic Orientation and Performance written by Michael Dean Ensley and published by . This book was released on 1997 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Creating Communities of Practice by : Oswald Jones
Download or read book Creating Communities of Practice written by Oswald Jones and published by Springer Nature. This book was released on 2021-02-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces concepts of business incubation and suggests a learning process. This process begins with prior knowledge at the opportunity identification phase, progresses through the acquisition of new skills and knowledge necessary to develop an opportunity and concludes with a transformation phase where new knowledge is acted upon. The book draws on extensive qualitative data and documentary evidence from a range of stakeholders associated with a University Business Incubator known as Innospace. The process of opportunity development within the business incubator is explored by combining experiential and social learning theories as heuristic tools. Presented implications for policy-makers and incubator managers are that attention and scarce resources should be focused on providing relevant information and encouraging an atmosphere of learning and mutual support. Recruitment practices should be revised to include a more holistic appreciation of potential incubatees contribution to the Business Incubation learning community as well as an assessment of their business plans. For policy makers the book suggests that successful business incubators do not necessarily require a large financial investment in state-of-the-art premises and technology. Appropriate management training together with carefully selected incubatees can create an effective learning community where opportunities are developed and transformed into enterprises and individuals into entrepreneurs.
Book Synopsis Handbook of Entrepreneurship Research by : Zoltan J. Acs
Download or read book Handbook of Entrepreneurship Research written by Zoltan J. Acs and published by Springer Science & Business Media. This book was released on 2010-08-03 with total page 685 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in and attention to entrepreneurship has exploded in recent years. Nevertheless, much of the research and scholarship in entrepreneurship has remained elusive to academics, policymakers and other researchers, in large part because the field is informed by a broad spectrum of disciplines, including management, finance, economics, policy, sociology, and psychology, often pursued in isolation from each other. Since its original publication in 2003, the Handbook of Entrepreneurship Research has served as the definitive resource in the field, bringing together contributions from leading scholars in these disciplines to present a holistic, multi-dimensional approach. This new edition, fully revised and updated, and including several new chapters, covers all of the primary topics in entrepreneurship, including entrepreneurial behavior, risk and opportunity recognition, equity financing, business culture and strategy, innovation, and the impact of entrepreneurship on economic growth and development. Featuring an integrative introduction, extensive literature reviews and reference lists, the Handbook will continue to serve as a roadmap to the rapidly evolving and dynamic field of entrepreneurship.
Book Synopsis Decision Making in Entrepreneurship by : Dean A. Shepherd
Download or read book Decision Making in Entrepreneurship written by Dean A. Shepherd and published by Edward Elgar Publishing. This book was released on 2016-11-25 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, Dean Shepherd focuses on the varying topics of entrepreneurship unified through conjoint analysis. Although the topic of entrepreneurial decision making is broad, in doing so, he reveals the mechanisms that come into play during the entrepreneurial decision-making process.
