Entrepreneurial Behaviour and Effectuation Theory Quiz

Effectuation theory = Theory explaining how entrepreneurial teams are formed Entrepreneurial behaviour = Activities directed at creating new ventures Team formation process = Process of building entrepreneurial teams New venture performance = Outcome of entrepreneurial activities on business success

Effectuation theorizing = Needs to address the elusive nature of its core tenets Conceptual process = Explains how entrepreneurial teams are formed and composition altered Normative conjectures = Not explicitly made about impact on long-term performance Disruptive innovations context = Suggests forming teams through action-interaction

Guaranteeing the viability of new ventures = Entrepreneurial behaviour Building on one single concept = Showing implications of applying effectuation to team formation processes Subjecting effectuation theory to scrutiny = Still ongoing by scholarly community Speculating on team formation in high technology contexts = Teams should be formed through action-interaction

<p>Limitations of the study = Not conceptualized direct theoretical impact on new venture performance Effectuation research findings = Suggest that teams should be formed in certain contexts like high technology Core tenets of effectuation theory = Being scrutinized by scholarly community Prescriptive corollaries of effectuation theory = Not making explicit normative conjectures about long-term impact</p> Signup and view all the answers

<p>Entrepreneurial team formation = Process of building a team for a new venture Effectuation = Approach that emphasizes leveraging resources at hand to create opportunities Exogenous entrepreneurial opportunity = Opportunity that comes from external sources Endogenous environmental attributes = Attributes that are internal to the model and affect team formation actions</p> Signup and view all the answers

<p>Team-level phenomena are goal-driven = Accepted wisdom challenged by the model presented Team composition involves effectuation = Extension of effectuation literature according to the model Research on entrepreneurial teams is limited = Surprising aspect highlighted by the chapter Conceptual model considers environmental attributes as endogenous = Basis for team formation actions according to the model</p> Signup and view all the answers

<p>Mutually consensual exclusion = Possibility in team dynamics mentioned in the text Tyranny of the majority = Contrasted with the approach of mutually consensual exclusion Novel understanding of entrepreneurial behaviour = Fresh perspective presented in the chapter Prevalence of entrepreneurial teams in new ventures = Surprising lack of research on this topic</p> Signup and view all the answers

<p>Challenging accepted wisdom on entrepreneurial teams = Direct challenge by the model's perspective Extending effectuation literature = Showing how team-level effectuation involves team composition Inspiring other researchers in entrepreneurship and teams = Hope expressed by the authors for future research endeavors Advancing understanding of entrepreneurial teams = Goal of empirical designs suggested by the model</p> Signup and view all the answers

<p>Self-selection of team members = Entrepreneurs should be aware of this and not recruit Commitment as a bonding element = Deliberate practice is the basis for entrepreneurial learning Consideration of complementarity of skills = Advice given to entrepreneurial teams when forming a team Adjustment through exclusion = A possibility worth considering for team members</p> Signup and view all the answers

<p>Individual opportunity model = Can co-exist with action-interaction model based on venture development stage Action-interaction model = Can co-exist with individual opportunity model based on venture development stage Team formation based on specialized expertise search = May necessitate very little refinement from a new member Forming a team under any circumstances = Contrary to the view that team members should be self-selected</p> Signup and view all the answers

<p>Complementarity of skills = Considered when forming an entrepreneurial team Strengths of social ties = Considered when forming an entrepreneurial team Trust among team members = Considered when forming an entrepreneurial team Recruitment of individuals = In contrast to the view that team members should be self-selected</p> Signup and view all the answers

<p>Formation of a team based on commitment = Reinforces that deliberate practice is essential for learning Exclusion as a consideration in team adjustment = A possible approach that should be considered by teams Common wisdom on team performance = Contradicted by the self-selection approach for team members Specialized expertise search in team formation = May require minimum refinement from new members at that point</p> Signup and view all the answers