For many new ventures, the entrepreneurial team is often considered one of the most important factors that determine the success of the business (Sahlman). A breakthrough idea or brilliant new market opportunity cannot be built nor sustained without a “superb entrepreneur” and the support of a “first-rate team”, which appeals to both investors outside the company and propagates a strong culture inside the organization (Bygrave). As demonstrated in the film, Startup.com, human capital not only consists of individual skills to produce an entrepreneurial idea, but it also encompasses the necessary social networks and team dynamics needed for collaborative tasks to sustain an opportunity. The documentary provides a rare and intimate look at govWorks, …show more content…
The entire documentary is centered on the lead entrepreneur, Kaleil Isaza Tuzman, and his attempt at balancing opportunity, resources, and relationships at govWorks. As the person who originally derived the idea of paying parking tickets online, he has many of the critical personal attributes of a successful entrepreneur that was noted in William Bygrave’s The Portable MBA in Entrepreneurship. For example, in terms of achieved characteristics and tangible assets, Kaleil graduated from Harvard University and his previous experience as an investment banker at Goldman Sachs gave him credibility as well as superior knowledge on how to raise capital. This is evident in his unfaltering tone and winning smile during his elevator pitch and interactions with various investors. Bygrave also believes that a successful entrepreneur has many behavioral and ascribed characteristics like determination and dedication, which allows them to “implement their venture with total commitment.” Not only did Kaleil resign from a high paying and stable job at Goldman Sachs to devote “all of his time to govWorks”, he also worked …show more content…
Unlike Kaleil and his focus on money, Tom is more relationship-oriented. “I would rather see the business fail than lose our friendship.” Tom also shows his dedication to the business and his employees by sacrificing time with his daughter. However, he is easily frustrated and succumbs to adversity. For example, when he realized that he could not be the co-CEO, he made irrational decisions to leave the company and ask Kaleil for a termination letter only to regret the actions afterwards. Not only did this complicate their friendship, but it also made the company appear disjointed in front of the board and other potential investors. In addition, he is not a good communicator and could not remember the city in which Maynard Jackson (a board member and presenter at the meeting) served as mayor. Furthermore, while Kaleil had financial expertises, Tom’s background highlighted many professional deficiencies. Despite his title as head of technology, he had a lack of experience in the core technological underpinning of the company, which led to many disputes with other employees as well as
He has no self-care because “an overpowering smell of sweat followed him wherever he went, and even remained behind him after he had gone.” Tom is a very simple and happy man. He is very active in his community by being a leading figure on various of committees and activities. However, Tom seems to be too good for his own brain. He is smart but yet goofy to where the party could depend on him for its stability. In chapter one, it states “one of those completely unquestioning, devoted drudges on whom the stability of the Party depended.” He’s the type to believe in the Party and its
The world is filled with many ambitious people looking to make a product to help the world and make a living for themselves and their families. These people are known as entrepreneurs. An entrepreneur is someone who organizes and operates a business or businesses while running the risk of losing everything to make money. One might ask why there is a risk ...
"…talent for organizations and management is rare among men is proved by the fact that it invariably secures for its possessor enormous rewards, no matter what laws or conditions." (The Gospel of Wealth, New York Carnegie Corporation, New York)
“…talent for organizations and management is rare among men is proved by the fact that it invariably secures for its possessor enormous rewards, no matter what laws or conditions.” (The Gospel of Wealth, New York Carnegie Corporation, New York)
On the surface, the seven-member MGI team which comprised of Henry Tam and Dana Soiman – both current HBS MBA Students, Alex Sartakov – a Berklee College of Music student, Dav Clar – a MIT graduate student, and Alexander (Sasha) Gimpelson, Igor Tkachenko, and Roman Yakub – the MGI founders, seems like an ideal team, with each member bringing different experiences and technical skills to help with the business plan contest at HBS. However, as we will see in this paper, interpersonal dynamics, a lack of clear leadership, resulting in unclear team goals and individual roles, and a lack of healthy group norms, contribute to an ineffective team process at MGI. With the deadline less than three weeks away and the team without even a first draft of the business plan, Henry is certain that the team would not meet the deadline if it continued to function as it had so far.
Thompson, Leigh L. “Making the Team” A Guide for Managers. New Jersey: Pearson Education, Inc, 2011. Print.
In particular, startups conform to a set of formalized, ritualistic practices in order to obtain venture capital (VC) funding during the “seed” phase. Almost paradoxically, new companies are regarded as a kernel of innovation and invention in the economy and yet they seem to emulate each others’ routines in the pursuit of early investment, decoupled from the actual products or services they plan to sell to the
It reminds me of another very good example of a reputed global management consulting firm that nurtures their own alumni network. The company cherishes its alumni, and is even happy when people move on for better opportunities. They take pride in the fact that the world’s most successful CEOs have once worked with them, and are still part of their alumni network; and they’re right about nurturing the network of the most successful businessmen and women of our time! The Power of Networking for Startups
Individuals have their own personalities that can influence their enthusiasm and productivity within an organization. In addition, individuals also form groups and are part of teams that work together to reach a common goal within organization. According to Gibson, Ivancevich, Donnelly, and Konopaske (2009) dedicated and cohesive teams can have a tremendous impact on organizations effectiveness and the global market. However, all of this happens within the frame-work of office politics and can hinder or enhance the organization’s effectiveness. Therefore, it is important to not only understand individuals, but also groups, teams and office politics within the organization. This will help leaders to plan, organize and motive individuals and groups for the best possible outcome for the organization.
Hutchinson, Paul. "Building Effective Teams." OB 221 Lecture. Boston University School of Management, Boston. 12 Feb. 2014. Lecture.
STARTUP.com is a masterpiece documentary because of how it accomplishes the virtual aspect of how difficult it is to not only maintain a business but also a long lasting friendship. First let me start off by saying that the easiest thing about starting a business is the “IDEA”. Everyone can come up with ideas on a basic concept that people seem to need, how they will go about fulfilling this need and etc. However again that is the easy part, the difficult part would have to be maintaining this business, keeping it alive/fresh and constantly coming up with new aspects to make their product better than the competition. This is exactly where Kaleil and Tom went wrong.
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
Organizations use teamwork because it increases productivity. This concept was used in corporations as early as the 1920s, but it has become increasingly important in recent years as employ...
We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how
An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. According to Martin (2010) an entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. To have self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. For example, When an almost bankrupt security company was offered to her, Datuk Maznah Hamid and her husband, who were eager to change their ordinary life, took the plunge and sacrificed RM5,000 of their saving. Only then she realized that apart from managing the operation, she also had to be a manager, a clerk, an accountant and a receptionist. To grow their business, they had to sell their house and moved to a slum that came without electricity. But she persevered. Today, it’s difficult to find someone who has never heard of Securiforce.