378 ENTREPRENEURSHIP
DISCUSSION QUESTIONS
- What are the three leadership roles of the entrepreneur? Give examples of each.
- How is a team different from a working group? Give examples.
- Where do the venture’s TMT members come from? What are the pros and cons of recruit-
ing familiars versus unfamiliars? - What are the arguments for and against a culturally diverse TMT?
- What types of efforts must be made to maintain a TMT as a high-performing group?
- What is the role of the board of directors? How can the board and the entrepreneur coop-
erate to make the venture a success? - What is a virtual organization? How can it exist and survive? When is a virtual organization
an effective way of organizing the new venture? - Why are networking and alliances important for the entrepreneur?
KEY TERMS
Absolute rule
Advisory board
Agglomerate network
Architect of organizational purpose
Balanced scorecard (BSC)
BHAG
Business incubator
Challengers
Collaborators
Communicators
Confederate alliance
Conglomerate
Conjugate alliance
Contributors
Core ideology
Core purpose
Core values
Cultural diversity
Culture
Departmentalization
Divisional structure
Envisioned future
Exit
Extended network
Familiars
Fiduciary board
Formal network
Gain-sharing
Groupshift
Groupthink
Holding company
Informal network
Innovator dilemma
Material rewards
Multidivisional structure
Networking
Nonmaterial rewards
Organic network
Organizational leader
Personal leader
Personal network
Preserve the core
Process-oriented
communication
Promoter dilemma
Relationship dilemma
Relativist approach
Sarbanes-Oxley (SOX)
Self-serving communication
Strong ties
Structure follows strategy
Task-oriented communication
Team
Unfamiliars
Utilitarian rule
Virtual organization
Voice
Weak ties
Working group