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Technopreneurship > Team Formation - Module 2 > Flashcards

Team Formation - Module 2 Flashcards

1
Q

the process through which founders establish a team to start a new venture

A

Entrepreneurial team formation

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2
Q

A __ put your talents, time, and energy to their best use, taking on an overwhelming challenge and using your wits (and a little trickery) to overcome every obstacle that crosses your path.

A

team, the RIGHT team

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3
Q

someone with authority to make decisions

A

Decider

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4
Q

is the official decision-maker for the project

A

Decider

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5
Q

Name some “Deciders” in a startup companies

A

founder or CEO

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6
Q

Name some “Deciders” in bigger companies

A

a VP, a product manager, or another team leader.

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7
Q

They generally understand the problem in depth, and they often have strong opinions and criteria to help find the right solution.

A

Deciders

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8
Q

A predefined span of time in which a team will work to accomplish specific goals and a decider (or two) must always be involved.

A

Sprint

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9
Q

If your Decider is reluctant, name arguments to be used as a strategy

A

-Rapid progress
-It’s an experiment
-Explain the Tradeoffs
-It’s about focus

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10
Q

Deciders are not excited about customer tests but everyone loves fast results

A

Rapid progress

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11
Q

Decider can help evaluate how effective a sprint was when it is over.

A

It’s an experiment

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12
Q

Show the Decider a list of big meetings and work items you and your team will miss during the sprint week.

A

Explain the tradeoffs

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13
Q

Instead of doing an okay job on everything, you’ll do an excellent job on one thing.

A

It’s about focus

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14
Q

It suggests co-founders select each other because they share similar interests, possess admirable qualities, and return the sentiment of liking

A

interpersonal-attraction strategy

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15
Q

This strategy emphasized supplementary fit, namely co-founding with members of the same kind and resemblance between co-founders.

A

interpersonal-attraction strategy

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16
Q

this strategy follows the principle of ‘birds of a feather flock together’.

A

interpersonal-attraction strategy

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17
Q

A strategy that suggests co-founders are selected based on the resources required for new venture creation.

A

resource-seeking strategy

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18
Q

This strategy emphasizes complementary fit, as the focus is on individuals’ human capital-their knowledge, skills and capabilities-and access to relevant resources and assets.

A

Resource-seeking strategy

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19
Q

selection of co-founders based on the quest for complementary capabilities, higher education and experience, and related industry knowledge

A

resource-seeking strategy

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20
Q

this strategy have identified linkages among co-founders based on friendship, family ties, and ethnicity

A

interpersonal-attraction strategy

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21
Q

Four inter-related team characteristics

A

team diversity, equity distribution, leadership, and structural boundaries

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22
Q

The immediate result of entrepreneurial team formation

A

team configuration (or composition)

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23
Q

referring to the collective characteristics of the founding team

A

team configuration (or composition)

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24
Q

It has been studied in terms of both surface attributes such as age, tenure, gender, and race, and deep-level aspects such as personality traits and values

A

Demographic-personal diversity

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25
Q

It has been measured through founders’ education, professional background, and prior experience.

A

Functional-informational diversity

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26
Q

the equal or unequal distribution among co-founders

A

equity-distribution

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27
Q

The division of equity and leadership is often characterized by…

A

‘throne versus kingdom’ paradox

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28
Q

lead entrepreneurs may desire possession of major shares and leadership authority

A

Owning the throne

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29
Q

even though it may undermine venture survival and financial performance

A

the kingdom

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30
Q

it distinguishes between members considered core of peripheral in the founding team

A

Structural boundaries

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31
Q

are enduringly involved and significantly committed to the new venture activity

A

core members

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32
Q

have a more temporary and sporadic involvement, addressing specific needs during limited time-periods

A

peripheral members

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33
Q

those who provide their own capital or reputation but are barely involved in the venture activity.

A

sleeping partners

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34
Q

the presence of junior sub-teams to pursue specific opportunities, while senior members oversee activities alongside broader venture management

A

multi-tier structural boundaries

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35
Q

encompass external agents, such as consultants or surrogates who provide critical knowledge and management skills

A

blurred boundaries

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36
Q

In team formation, they often join the team during later stages

A

blurred boundaries; external agents or surrogates

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37
Q

an outcome of team characteristics

A

team processes

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38
Q

include alignment of values and vision as well as cohesion in the form of interpersonal-emotional bonds within a close-knit unit

A

coordination-related processes

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39
Q

may enable co-founders to rely on others’ diverse knowledge bases, gain deeper expertise in different specialized domains, and improve venture capabilities and access to a larger pool of resources.

A

Specialization-related processes

40
Q

performance indicators of successful efforts at entrepreneurial team formation

A

milestones and markers

41
Q

Venture performance has also been measured by … (3)

A

financial, growth, and survival indicators

42
Q

Given a specific problem or challenge, they must be able to brainstorm and collaborate and contribute to what different kinds of ideas they have to solve the problem.

A

Idea generation

43
Q

They should be able to identify the scope of the project, cost of the project and time needed to execute a certain task.

A

Project Management

44
Q

They should be able to translate customer needs into a product design with better user experience.

A

Design the product

45
Q

They should be able to build the solution that they propose.

A

Develop the product

46
Q

They must be able to market the product and communicate the value proposition of your product to your target market.

A

Product marketing

47
Q

They should be able to identify who their customers are and create a persona of their customers

A

Customer qualification

48
Q

what motivates customers to buy a product or do certain tasks.

A

Customer qualification

48
Q

The team must be able to identify what kind of revenue models are suitable for their product or service

A

Business and revenue modeling

49
Q

Team also must be able to identify who their competitors are and what products are already existing in the market.

A

Competitive analysis

50
Q

Understanding your competitor would help you strategize on how you can be unique apart from the existing competitors.

A

Competitive analysis

51
Q

They should be able to sell the product to target customers.

A

Product sales

52
Q

They should also know how to deploy and bring the products to the market

A

Product Deployment

53
Q

They should also be able to manage their finances efficiently, especially during this initial stage of their business

A

Accounting and finance

54
Q

Founders must have the abilities to speak in front of a live audience during pitch competitions.

A

Public Speaking

55
Q

They should also be able to seek external funding from potential investors

A

Fund Raising

56
Q

The team must have the ability to learn technical skills to design and build products.

A

Experience

57
Q

They need to have a vast network of connections who are possible partners, mentors or investors.

A

Network

58
Q

Startups need ___ to build a market for their product and support from investors to fund their startup.

A

Network

59
Q

They need to have background about the industry or the market that they are entering into because they need to know who the market is, where the market is, how big the market is, and who competitors in the market are.

A

Knowledge

60
Q

These are other qualities that a team member can have together with any of the above mentioned qualities.

A

Skills or Strengths

61
Q

It is the ability to lead the team towards a certain goal.

A

Leadership.

62
Q

It is the ability to work harmoniously with your team mates

A

Team player.

63
Q

The ability to identify project scope, project cost and project schedule to achieve a goal.

A

Project Management

64
Q

The ability to create plans or strategize to achieve a goal.

A

Strategy.

65
Q

The ability to execute the plans.

A

Execution

66
Q

The ability to translate customer needs into user interface and/or user experience design

A

UI/UX Design

67
Q

The ability to speak in a live audience.

A

Public Speaking

68
Q

The ability to convince people to buy your products, join your team or invest in your startup.

A

Influence

69
Q

three ways three ways to form a team, according to UC Berkeley

A

Team-centric Startup Formation
Research-centric Startup Formation
Market Opportunity-centric Startup Formation

70
Q

you build your team from your existing network

A

Team-centric Startup Formation

71
Q

You invite people you highly trust to join you on this endeavor

A

Team-centric Startup Formation

72
Q

You look for people in your network who have the experience and knowledge you need to start a business.

A

Team-centric Startup Formation

73
Q

In this type of team building, you encourage your co-researchers to establish a startup and bring your research outputs to the market.

A

Research-centric Startup Formation.

74
Q

this team is highly technical in experience.

A

Research-centric Startup Formation.

75
Q

teams are formed or created during a hackathon or a competition.

A

Market Opportunity-centric Startup Formation

76
Q

People of the same interest gather in one place, meet each other and realize that they have a lot of things in common.

A

Market Opportunity-centric Startup Formation

77
Q

three sides of team diversity that was coined during an entrepreneurship seminar by UC Berkeley:

A

Business Function, Roles and the Silicon Valley Triptych.

78
Q

In the business function side of diversity, the team needs:

A

strategist
designer
builder/engineer
sales/marketing expert
project manager

79
Q

who knows how to create a business plan and analyze the market,

A

Strategist

80
Q

who designs user experience and user interfaces,

A

Designer

81
Q

who develops prototypes

A

Builder or an Engineer

82
Q

who knows how to attract engage customers

A

Sales/Marketing expert

83
Q

assigns tasks to each member and oversees all of the activities inside the startup

A

Project Manager

84
Q

Another side of team diversity are Roles to play:

A

Idea Guy
Communicator
Peacemaker
Problem-finder
Problem-solver
Executor

85
Q

who always have fresh ideas in mind,

A

Idea Guy

86
Q

who has special facilitation skills in the team

A

Communicator

87
Q

who maintains harmonious relationship of the members

A

Peacemaker

88
Q

who can spot challenges or problems before they occur

A

Problem-finder

89
Q

who is always eager to take on any challenge and solve problems

A

Problem-solver

90
Q

who can swiftly finish any assigned tasks.

A

Executor

91
Q

Silicon Valley Triptych. This is very common in Silicon Valley. Here we need:

A

Hustler
Hacker
Hipster
Hound (sometimes added)

92
Q

who sells the product or seeks investment, (silicon valley triptych)

A

Hustler

93
Q

who designs the product. (silicon valley triptych)

A

Hipster

94
Q

who builds the product (silicon valley triptych)

A

Hacker

95
Q

who initially talks to customers and does market research. (silicon valley triptych)

A

Hound

Technopreneurship (7 decks)

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