People & Strategy Spring 2018 Vol. 41 No. 2 - 38

stand how individuals and teams are socially connected and the
implications this may have on the ways they interact and work
with each other.6 It therefore emphasizes external relationships
as opposed to internal attributes such as personality traits.
Indeed, research on the importance of social networks in
entrepreneurial success found that entrepreneurs with larger
social networks were better able to spot new opportunities and
produce more innovative output. Evidence also suggests that
creative output was better facilitated by direct connections
between individuals rather than through an open network
that attempts to connect as many people as possible. This is
reasonable, given that a network in which each member was
connected to one another would result in an 'echo chamber'
with no diversity in ideas or new information shared. Given
the homogeneity that would arise, it would be hard to identify
and critically assess new opportunities.
Thus, entrepreneurial teams may have the right talent, but
without the right social capital, they will struggle to achieve
their goals. Similarly, a team may have sufficient social capital
but lack the talent needed to create value. A high-potential
entrepreneurial team that has entrepreneurial talent (e.g.
elevated levels of creativity, vision, proactivity, and opportunism) and social capital will have access to the talent, knowledge, and resources they need for entrepreneurial success.7
Together these two forces will mutually reinforce one another.

To turbo-charge any team, but
especially an entrepreneurial team,
implement processes that reward
creativity and offer autonomy.
Having increased levels of social capital will provide additional connections and resources for training, mentoring, and
education. This enables entrepreneurs to learn the skills they
need for success and to gain awareness of new opportunities.
In turn, a well-balanced team with a variety of talents are more
likely to have greater levels of social capital through their
diverse backgrounds, education, and careers. Thus, acquiring
the right talent and developing the social capital of the team
is an imperative if an entrepreneurial team is to succeed.
Implication: Social capital is indispensable to an entrepreneurial team and will help the team leverage resources
and connections critical to their survival. An effort should
be made to hire individuals whose social connections and
resources will expand the existing social capital of the team.

Innovative Culture

Peter Drucker's famous quote, "culture eats strategy for breakfast," is as true for small entrepreneurial teams as it is for large
organizations. Strategy describes what work gets done, but
culture describes how that work gets done. In entrepreneurial
teams where the culture is still fluid, it is ever more critical to
develop a team culture that facilitates engagement, motivation, and collaboration.
38

PEOPLE + STRATEGY

A significant body of research has been conducted to
identify the cultural factors and conditions needed to support
entrepreneurial teams and organizations. For instance, a
meta-analysis conducted on the relationship between culture
and entrepreneurial success demonstrated that the extent to
which a team's work environment is aligned with the firm's
pursuit of innovation and growth is beneficial to organizational performance.8 Stated simply, any misalignment of goals
within the team will negatively impact the working environment.
What then makes an entrepreneurial culture? Research has
identified four critical factors for developing a culture that
will support entrepreneurial teams:
* Managerial Support: Managers must facilitate and promote entrepreneurial behavior by championing innovative
ideas and providing the resources required to behave
entrepreneurially.
* Autonomy: There is no greater threat to entrepreneurialism than fear of failure. An entrepreneurial culture will
provide decision-making autonomy to individuals and
celebrate failures as a means to future successes.
* Rewards: We can't reward one behavior while hoping for
another behavior. Entrepreneurial cultures will systemically reinforce entrepreneurial behavior by rewarding creativity and risk-taking, highlighting significant achievements,
and encouraging pursuit of challenging work.
* Time: Evaluating workloads to ensure that individuals
and groups have the time needed to pursue innovations
and that their jobs are structured in ways that support
efforts to achieve short- and long-term organizational
goals.9
Leaders looking to develop an entrepreneurial culture,
whether inside of a larger organization or as a small start-up,
should pay close attention to these factors and recognize that
there are multiple tools at their disposal. Mission statements
and organizational values can be formulated to communicate the importance of creativity and innovation to the
organization. Formal and informal reward systems should be
implemented to ensure the reinforcement of these behaviors.
Finally, smart job-design that relies on industrial-organizational psychology best practices will ensure that employees
have the time and autonomy they need develop and execute
creative ideas.
Leaders of entrepreneurial teams must also look inward to
understand how their own behavior is impacting the performance of their teams. Research has found that leaders who
communicate an entrepreneurial vision for the team and
promote the values of creativity and innovation will more
effectively motivate and instill such values in their followers.10
A leader's vision is a powerful means of communicating organizational goals to employees. A clearly communicated vision
will foster a salient in-group identity, group cohesion, and
loyalty, and that vision will drive a willingness to compete with
perceived out-groups and competitors. These behaviors will,
in turn, increase an employee's motivation to pursue entrepreneurial activity.11
Implication: To turbo-charge any team, but especially an
entrepreneurial team, implement formal processes that re-



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
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