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Friendship within Entrepreneurial Teams and its Association with Team and Venture Performance

Friendship within Entrepreneurial Teams and its Association with Team and Venture Performance This article explores friendship within the entrepreneurial team with particular attention to its association with the team's behavior and the performance of the venture. Building on a foundation in the literatures on friendship, entrepreneurial teams, and strategic decisions, we propose 13 such relationships.Friendship facilitates the formation of management teams for new ventures, thereby improving their early performance. As the entrepreneurial team continues to function, friendship is conducive to decision-making processes that enhance the team's effectiveness in solving “wicked” problems and ultimately improve the venture's performance. Friendships, under different circumstances, may exert either positive or negative influences on turnover within the entrepreneurial team, and those influences may improve or impair the venture's performance. (At the same time, behavior within the team or events in the venture's development may affect friendships within the team.)Finally we develop and discuss several implications of our propositions for research and practice in entrepreneurship. We point out methodological considerations and directions for future research that would address these implications. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Entrepreneurship Theory and Practice SAGE

Friendship within Entrepreneurial Teams and its Association with Team and Venture Performance

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References (48)

Publisher
SAGE
Copyright
© 2000 SAGE Publications
ISSN
1042-2587
eISSN
1540-6520
DOI
10.1177/104225870002500201
Publisher site
See Article on Publisher Site

Abstract

This article explores friendship within the entrepreneurial team with particular attention to its association with the team's behavior and the performance of the venture. Building on a foundation in the literatures on friendship, entrepreneurial teams, and strategic decisions, we propose 13 such relationships.Friendship facilitates the formation of management teams for new ventures, thereby improving their early performance. As the entrepreneurial team continues to function, friendship is conducive to decision-making processes that enhance the team's effectiveness in solving “wicked” problems and ultimately improve the venture's performance. Friendships, under different circumstances, may exert either positive or negative influences on turnover within the entrepreneurial team, and those influences may improve or impair the venture's performance. (At the same time, behavior within the team or events in the venture's development may affect friendships within the team.)Finally we develop and discuss several implications of our propositions for research and practice in entrepreneurship. We point out methodological considerations and directions for future research that would address these implications.

Journal

Entrepreneurship Theory and Practice – SAGE

Published: Dec 1, 2000

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