People & Strategy Spring 2018 Vol. 41 No. 2 - 37

or launching a startup is only the beginning of the story.
Founding teams tend to experience a plethora of stressors
and challenges. Intra-team issues can significantly exacerbate
these challenges and make success far less likely. Through understanding how to design a successful entrepreneurial team,
many of these risks can be avoided.
In addition, established organizations facing disruption are increasingly investing in intrapreneurship and
aquihiring. Intrapreneurship is the practice of fostering
autonomous teams within larger organizations. Aquihiring
is a more recent phenomenon where a large organization
acquires a smaller startup in an effort to rapidly onboard
a high-functioning team-even where there is no interest
in the actual product or service offered by the startup.
Both strategies can be expensive and require significant
planning. To ensure success it is critical that organizational leaders know how to identify a strong entrepreneurial
team. They also must understand how to foster an entrepreneurial culture that will empower the team to be
creative, take risks, and attain organizational goals. Recent
research has also demonstrated that talented employees
migrate to more creative organizations. Hence organizations that cannot foster innovation are at risk of losing
their best employees.2
The good news is we know a fair amount about what comprises a well-functioning team. We believe there are three critical ingredients to a successful entrepreneurial team: acquiring
entrepreneurial talent, building social capital, and fostering
an innovative and creative culture.

Entrepreneurial Talent

Although still a new area of study, there is a significant
amount of literature on entrepreneurship spanning disciplines that include economics, philosophy, sociology, and psychology. Despite the different approaches to understanding
the antecedents of entrepreneurial success, research converges on four personality dimensions that when present will drive
entrepreneurial success:3
* Opportunism: The tendency to spot new business opportunities (relates to being alert, informed, and detecting
future trends).
* Proactivity: The tendency to be proactive about projects
and get things done (relates to energy, confidence, and
self-determination).
* Creativity: The tendency to generate innovative business
ideas (relates to non-conformity, originality, and preference for novel experiences).
* Vision: The ability to see the bigger picture and to drive
change and create progress (relates to values and having a
higher sense of purpose).
A growing body of empirical work has demonstrated the incremental validity of these dimensions beyond other relevant
personality constructs that predict performance. For instance,
one study assessed entrepreneurs on the four constructs previously mentioned and past success across a variety of entrepreneurial domains.4 Using structural equation modelling, the
entrepreneurial talent constructs were found to significantly
predict entrepreneurial success, accounting for 66 percent of

the variance. Put simply, entrepreneurial personality matters.
This demonstrates the importance of assessing entrepreneurial talent when designing or assessing an entrepreneurial
team.
How can entrepreneurs and leaders use this information
when designing entrepreneurial teams? The first step in building an entrepreneurial team is to use personality assessments
to identify the right talent as defined by the four entrepreneurial personality dimensions. An effort should be made to
select candidates with complementary strengths across these
four dimensions. For instance, a highly creative and visionary
individual would benefit from a colleague who is pragmatic
and detail orientated. Similarly, highly opportunistic individuals will get distracted and pursue other business ideas if not
kept in line by a more conscientious and diligent teammate.
Conversely, a team comprised of individuals who score high
on the same entrepreneurial constructs will likely be dysfunctional. Rather, individuals should be strategically selected
and placed in roles that suit their level of entrepreneurial
talent and complement the abilities of their fellow teammates.
That said, all team members should share the same vision of
success as that will drive a shared motivation, purpose, and
collective efficacy. Put simply, the distribution of talent in an
entrepreneurial team should be complementary and strategic,

There are three critical ingredients
to a successful entrepreneurial team:
entrepreneurial talent, social capital,
and innovative culture.
yet united by a shared vision of success.
Implication: Measuring entrepreneurial personality will
mitigate the risks of derailment caused by intra-team fissures.
Moreover, when shared and discussed among the team, personality insights can enhance understanding of complementary and strategic capabilities as the team seeks to convert vision
to action.

Social Capital

Once a team has been organized, how can they gain access to
new opportunities and to the network of support that is vital
for success? Social capital is a key ingredient in any high-functioning team and can provide these critical resources. Social
capital can be described as the extent to which a person
maintains strong social ties to existing connections and develops new social connections to acquire new information and
resources.
Increased social capital rewards the team with increased
access to unique knowledge and resources. In addition, it provides the opportunity to gain the social influence and support
needed to persuade and inspire others.5 This construct is typically understood through social network analysis. Unlike the
psychometric approach that is used to measure the entrepreneurial personality, social network analysis attempts to underVOLUME 41 | ISSUE 2 | SPRING 2018

37



Table of Contents for the Digital Edition of People & Strategy Spring 2018 Vol. 41 No. 2

From the Executive Editor
From the Guest Editor
Perspectives
Ignition Teams: Rising to the Challenges of Innovation
Challenge Accepted: Managing Polarities to Enhance Virtual Team Effectiveness
Facilitating Trust and Communication in Virtual Teams
Building Entrepreneurial Teams: Talent, Social Capital, and Culture
Organizations That Get Teamwork Right
Team Development: The Power of Debriefing
The Rise of Digital Team Building
Executive Roundtable
In First Person
Linking Theory + Practice
Insight into Action
Leadership Insights
People & Strategy Spring 2018 Vol. 41 No. 2 - Cover1
People & Strategy Spring 2018 Vol. 41 No. 2 - Cover2
People & Strategy Spring 2018 Vol. 41 No. 2 - 1
People & Strategy Spring 2018 Vol. 41 No. 2 - 2
People & Strategy Spring 2018 Vol. 41 No. 2 - 3
People & Strategy Spring 2018 Vol. 41 No. 2 - From the Executive Editor
People & Strategy Spring 2018 Vol. 41 No. 2 - 5
People & Strategy Spring 2018 Vol. 41 No. 2 - From the Guest Editor
People & Strategy Spring 2018 Vol. 41 No. 2 - 7
People & Strategy Spring 2018 Vol. 41 No. 2 - Perspectives
People & Strategy Spring 2018 Vol. 41 No. 2 - 9
People & Strategy Spring 2018 Vol. 41 No. 2 - 10
People & Strategy Spring 2018 Vol. 41 No. 2 - 11
People & Strategy Spring 2018 Vol. 41 No. 2 - 12
People & Strategy Spring 2018 Vol. 41 No. 2 - 13
People & Strategy Spring 2018 Vol. 41 No. 2 - 14
People & Strategy Spring 2018 Vol. 41 No. 2 - 15
People & Strategy Spring 2018 Vol. 41 No. 2 - Ignition Teams: Rising to the Challenges of Innovation
People & Strategy Spring 2018 Vol. 41 No. 2 - 17
People & Strategy Spring 2018 Vol. 41 No. 2 - 18
People & Strategy Spring 2018 Vol. 41 No. 2 - 19
People & Strategy Spring 2018 Vol. 41 No. 2 - 20
People & Strategy Spring 2018 Vol. 41 No. 2 - 21
People & Strategy Spring 2018 Vol. 41 No. 2 - Challenge Accepted: Managing Polarities to Enhance Virtual Team Effectiveness
People & Strategy Spring 2018 Vol. 41 No. 2 - 23
People & Strategy Spring 2018 Vol. 41 No. 2 - 24
People & Strategy Spring 2018 Vol. 41 No. 2 - 25
People & Strategy Spring 2018 Vol. 41 No. 2 - 26
People & Strategy Spring 2018 Vol. 41 No. 2 - 27
People & Strategy Spring 2018 Vol. 41 No. 2 - 28
People & Strategy Spring 2018 Vol. 41 No. 2 - 29
People & Strategy Spring 2018 Vol. 41 No. 2 - Facilitating Trust and Communication in Virtual Teams
People & Strategy Spring 2018 Vol. 41 No. 2 - 31
People & Strategy Spring 2018 Vol. 41 No. 2 - 32
People & Strategy Spring 2018 Vol. 41 No. 2 - 33
People & Strategy Spring 2018 Vol. 41 No. 2 - 34
People & Strategy Spring 2018 Vol. 41 No. 2 - 35
People & Strategy Spring 2018 Vol. 41 No. 2 - Building Entrepreneurial Teams: Talent, Social Capital, and Culture
People & Strategy Spring 2018 Vol. 41 No. 2 - 37
People & Strategy Spring 2018 Vol. 41 No. 2 - 38
People & Strategy Spring 2018 Vol. 41 No. 2 - 39
People & Strategy Spring 2018 Vol. 41 No. 2 - 40
People & Strategy Spring 2018 Vol. 41 No. 2 - 41
People & Strategy Spring 2018 Vol. 41 No. 2 - Organizations That Get Teamwork Right
People & Strategy Spring 2018 Vol. 41 No. 2 - 43
People & Strategy Spring 2018 Vol. 41 No. 2 - 44
People & Strategy Spring 2018 Vol. 41 No. 2 - 45
People & Strategy Spring 2018 Vol. 41 No. 2 - Team Development: The Power of Debriefing
People & Strategy Spring 2018 Vol. 41 No. 2 - 47
People & Strategy Spring 2018 Vol. 41 No. 2 - 48
People & Strategy Spring 2018 Vol. 41 No. 2 - 49
People & Strategy Spring 2018 Vol. 41 No. 2 - 50
People & Strategy Spring 2018 Vol. 41 No. 2 - 51
People & Strategy Spring 2018 Vol. 41 No. 2 - The Rise of Digital Team Building
People & Strategy Spring 2018 Vol. 41 No. 2 - 53
People & Strategy Spring 2018 Vol. 41 No. 2 - 54
People & Strategy Spring 2018 Vol. 41 No. 2 - 55
People & Strategy Spring 2018 Vol. 41 No. 2 - Executive Roundtable
People & Strategy Spring 2018 Vol. 41 No. 2 - 57
People & Strategy Spring 2018 Vol. 41 No. 2 - 58
People & Strategy Spring 2018 Vol. 41 No. 2 - 59
People & Strategy Spring 2018 Vol. 41 No. 2 - 60
People & Strategy Spring 2018 Vol. 41 No. 2 - 61
People & Strategy Spring 2018 Vol. 41 No. 2 - In First Person
People & Strategy Spring 2018 Vol. 41 No. 2 - 63
People & Strategy Spring 2018 Vol. 41 No. 2 - 64
People & Strategy Spring 2018 Vol. 41 No. 2 - 65
People & Strategy Spring 2018 Vol. 41 No. 2 - Linking Theory + Practice
People & Strategy Spring 2018 Vol. 41 No. 2 - 67
People & Strategy Spring 2018 Vol. 41 No. 2 - 68
People & Strategy Spring 2018 Vol. 41 No. 2 - 69
People & Strategy Spring 2018 Vol. 41 No. 2 - Insight into Action
People & Strategy Spring 2018 Vol. 41 No. 2 - 71
People & Strategy Spring 2018 Vol. 41 No. 2 - Leadership Insights
People & Strategy Spring 2018 Vol. 41 No. 2 - 73
People & Strategy Spring 2018 Vol. 41 No. 2 - 74
People & Strategy Spring 2018 Vol. 41 No. 2 - Cover3
People & Strategy Spring 2018 Vol. 41 No. 2 - Cover4
http://www.nxtbook.com/ygsreprints/HRPS/hrps_41_3_2018
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http://www.nxtbook.com/ygsreprints/HRPS/hrps_39_3_2016
http://www.nxtbook.com/ygsreprints/HRPS/hrps_39_2_2016
http://www.nxtbook.com/ygsreprints/HRPS/hrps_39_1_2016
http://www.nxtbook.com/ygsreprints/HRPS/hrps_38_4_2015
http://www.nxtbook.com/ygsreprints/HRPS/d52272_hrps_summer2015
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http://www.nxtbook.com/ygsreprints/HRPS/d47867_hrps_winter2015
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