technology ventures: from idea to enterprisechapter 12: summary how can entrepreneurs best organize...

Technology Ventures: From Idea to EnterpriseChapter 12: Summary

How can entrepreneurs best organize and reward the people who will lead their venture to success?

Early in the development of a firm, a leadership team is created to build a business plan and organizational plan. The organizational plan is structured to align the culture of the firm with its goals and values.

Summary

Two people working as a team will produce more than three working as individuals.

Charles P. McCormick

The New Enterprise OrganizationThe New Enterprise Organization

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Chapter 12: Team

Team: a few people with complementary capabilities who are committed to a common objective, goals, and approach for which they hold themselves mutually accountable.


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Technology Ventures: From Idea to Enterprise

Chapter 12: Table 12.1

Nine Elements of An Organization1. The Mission and Vision

2. The Goals and Objectives

3. The Strategy

4. The Capabilities and Resources

5. The Processes and Procedures

6. The Talent (People)

7. The Leadership Team and Management

8. Shared Values and Culture

9. The Structure and Style


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Chapter 12: Leadership

Leadership is the process of influencing and motivating people to work together to achieve a common goal by helping them secure the knowledge, power, tools, and processes to do so.


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Chapter 12: Table 12.3

Leadership of Routine and Adaptive Work

A Leader's Role in:

Routine Issues Challenging and Adaptive Work

Direction Define problems and possible solutions

Define the challenges and the issues

Team and Individual Responsibilities

Clarify and define roles and responsibilities

Define and discuss the necessity to adapt roles and responsibilities to changing needs

Conflict Restore order and reduce conflict

Accept useful conflict and use it to define new approaches and strategies

Norms and Values Reinforce norms and values

Reshape norms and values

Teaching and Coaching

Training and skill learning for existing employees

Teaching and coaching new people


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Chapter 12: Table 12.4 – 7 traits of leaders (Collins and Lazier, 1992)

The Seven Traits of Leaders

Authenticity – consistent actions and words

Decisiveness – willing to act on limited, imperfect information

Focus – create a priority list and stick to it

Care – build relationships and social capital

People Skills – offer helpful feedback and good coaching to all team members

Communication – stimulate conversation and communicate vision

Continuous Improvement – keep learning and energy flowing in the firm, retain optimism

Adapted from Collins, 1992


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Chapter 12: Management

Management is a set of processes such as planning, budgeting, organizing, staffing, and controlling that keep an organization running well.


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Chapter 12: Table 12.6 – Emotional intelligence

The Four Elements of Emotional Intelligence

•Self-awareness of one’s emotions, emotional strengths and weaknesses, and self-confidence. The ability to read your own emotions.

•Self-management of honesty, flexibility, initiative and optimism and emotional self-control. The ability to control your emotions and act with honesty and integrity.

•Social awareness of empathy, organizational currents and recognition of the needs of followers and clients.

•Relationship management is the ability to communicate through inspiration, influence, catalyst, conflict management and collaboration.


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Chapter 12: Organizational Culture

Organizational culture is the bundle of values, norms, and rituals that are shared by people in an organization and govern the way they interact with each other and with other stakeholders.


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Chapter 12: Social Capital

Social capital consists of the accumulation of active connections among people in a network. Social capital refers to the resources available in and through personal and organizational networks (Coleman, 1990)


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Chapter 12: Principle

Effective leaders coupled with a good organizational plan, a collaborative performance-based culture, and a sound compensation scheme can help align every participant with the goals and objectives of the new firm.


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Chapter 12: Exercise

Your team is forming a company to create interactive electronic computer games for children 8-11 years old. Describe the value proposition of this firm and select a leader of the team. Describe the culture and the initial structure of the organization.


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Chapter 12: Venture Challenge

VENTURE CHALLENGE1)Describe the team and the organizational

arrangement for your venture.2)Discuss your plans to build a board of directors and

a board of advisors.


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Chapter 12: DVD Videos

DVD Videos“The Strength of a Team”

Vinod Khosla (KPCB)“Forming the Founding Team”

Kim Smith (New Schools Venture Fund)


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