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Describe what is meant by “management team” philosophy and attitude of entrepreneurial ventures that will eventually contribute to business venture growth [15 marks] Many scholars believe that “there is a strong connection between the growth Spines”, 2009). Describe what is meant by “management team” philosophy and venture growth? From Collins dictionaries the management team is defined as “a team of managers in charge of direction a company, business, etc.
Wisped define the management team as “senior management, executive management, or management team is generally a team of individuals at the highest level of organizational”. For general definition, management team is a set of peoples that come from various function or responsibility that responsible to manage the organization. There is a strong connection between the growth potential of a venture and the quality of its management team”, (Tensions and Spines”, 2009). To relate this statement, I had found some statement from (Krishna et al. , 1997, p. 363).
Differences between the top management teams on Important dimensions such as backgrounds of managers has more potential to create unique value because It makes the combined organization stronger by offsetting weaknesses In both firms, thereby creating or mentioned about “a bad manager will make bad decisions, will hurt the morale of the employees and your relationship with customers, you can’t afford to keep them around”. This situation can give impact the organization directly, so it is really importance to have good quality of management team in order to ensure growth potential to organization business.
This idea clearly directed the right people for the right Jobs its crucial during the selecting the management team in the organization. Cited from the Marriott management philosophy “A business succeeds not because it is long established or because it is big, but 2. Select a successful venture business which has been in the market for more than 10 years. This could be a business venture company which you see as an example on how sequential development of a venture business which started with few members then grew and expanded into a much bigger management team.
Your analysis should critically discuss whether what is said and discussed in the literature can be verified and why venture “management team” is important for developing style and leadership philosophy in selected business venture [45 marks] [TOTAL: 60 MARKS] Assignment Format: a. Use double space and 12-point of Times New Roman font. B. The assignment should contain about 3000 – 5000 words (15-20 pages) c. Provide reference using the American Psychological Association (PAPA) format d.
References should be latest (year 2005 onwards) Notes: ; Assignments should be submitted according to the due date. ; You are to submit a softy and a hardcopy of your assignment to your facilitator. ; Plagiarism is not acceptable. If you are not sure what is meant by plagiarism, refer to the various websites which discuss this matter, e. G. Owl. English. Purdue. Du/handouts. – Definition of New Venture Development is a beginning stage in the life cycle of a business when the new business is being evaluated then created.
Definition of entrepreneurship The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation’s ability to succeed in an ever changing and increasingly competitive global marketplace. Read more: http://www. Objectifications. Com/definition/