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Technology Ventures : From Idea to Opportunity

Two people working as a team will produce more than three working as individuals. Charles P. McCormick. Summary. How can entrepreneurs best organize and reward the people who will lead their venture to success?

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Technology Ventures : From Idea to Opportunity

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  1. Two people working as a team will produce more than three working as individuals. Charles P. McCormick 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. Chapter 12: Summary Technology Ventures: From Idea to Opportunity

  2. Team: a few people with complementary capabilities who are committed to a common objective, goals, and approach for which they hold themselves mutually accountable. Chapter 12: Team Technology Ventures: From Idea to Opportunity

  3. Nine Elements of An Organization 1. 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 Chapter 12: Table 12.1 Technology Ventures: From Idea to Opportunity

  4. 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. Chapter 12: Leadership Technology Ventures: From Idea to Opportunity

  5. Leadership of Routine and Adaptive Work Chapter 12: Table 12.3 Technology Ventures: From Idea to Opportunity

  6. 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 Chapter 12: Table 12.4 Technology Ventures: From Idea to Opportunity

  7. Management is a set of processes such as planning, budgeting, organizing, staffing, and controlling that keep an organization running well. Chapter 12: Management Technology Ventures: From Idea to Opportunity

  8. 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. Chapter 12: Table 12.7 Technology Ventures: From Idea to Opportunity

  9. 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. Chapter 12: Organizational Culture Technology Ventures: From Idea to Opportunity

  10. 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. Chapter 12: Social Capital Technology Ventures: From Idea to Opportunity

  11. 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. Chapter 12: Principle Technology Ventures: From Idea to Opportunity

  12. 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. Chapter 12: Exercise Technology Ventures: From Idea to Opportunity

  13. VENTURE CHALLENGE • Describe the team and the organizational arrangement for your venture. • Discuss your plans to build a board of directors and a board of advisors. Chapter 12: Venture Challenge Technology Ventures: From Idea to Opportunity

  14. DVD Videos “The Strength of a Team” Vinod Khosla (KPCB) “Measuring Success: You Measure What Matters” John Thompson (Symantec) Chapter 12: DVD Videos Technology Ventures: From Idea to Opportunity

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