Management Team Essay

Many scholars believe that there is a squiffy connection between the growth potential of a casualty and the prime(a) of its manage workforcet team, (Timmons and Spinelli, 2009). observe what is meant by management team philosophy and attitude of entrepreneurial ventures that give eventually contribute to rail line venture growth? From Collins dictionaries the management team is defined as a team of managers in charge of direction a company, business, etc.Wikipedia define the management team as senior management, administrator management, or management team is widely distributedly a team of psyches at the highest level of organizational. For general definition, management team is a set of nations that come from various function or responsibility that liable to manage the organization. there is a strong connection between the growth potential of a venture and the quality of its management team, (Timmons and Spinelli, 2009).To relate this statement, I had found some statemen t from (Krishnan et al. 1997, p. 363). Differences between the realize management teams on important dimensions such as backgrounds of managers has more potential to create unique cherish because it makes the combined organization stronger by offsetting weaknesses in both firms, thereby creating or maintaining a competitive gain I also refer to www. jeffcobizjournal. com that mentioned about a good-for-nothing manager will make bad decisions, will hurt the morale of the employees and your relationship with customers, you cant afford to keep them around.This billet 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 understandably 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 b ecause it is big, but because there are men and women in it who live it, sleep it, dream it, and build great future plans for it. RobinsonFinkelstein, Hambrick, and Cannella (2009 3) wrote, The small company of people at the top of an organization can dramatically affect organizational outcomes. Becker (1964), training and wages for experiences and masterful managers can be seen as a firms investment in human capital, expecting to good from higher productivity and added economic value.From this statement we can relate the bad impact of the small group of people to it is because of the individual factor also. Research shows that effective communication in a team is a critical factor determining team performance (Hitt, et al. 2006). Robinson et al. found that an entrepreneurial attitude orientation outmatch significantly differentiated between entrepreneurs and non-entrepreneurs. Therefore, it is mentioned that attitude towards entrepreneurship is a function of the demographic an d psychological characteristics and their interaction. Baum, Locke and Smith (2001) account significant correlations between self-efficacy and venture growth, Douglas and Shepherd (2005) define entrepreneurial capital as the composite of the individuals entrepreneurial attitudes and abilities. enterpriserial attitudes are those toward autonomy, risk, work, income and (other net) perquisites, while entrepreneurial abilities include opportunity recognition, viability screening, and creative hassle solving skills. Hofer and Sandberg (Summer 1987), stated there are three factors have a substantial impact on a new ventures performance. In order of importance, these factors affecting new venture victory are (1) the structure of the industry entered, (2) the new ventures business strategy, and (3) behavioral characteristics of the entrepreneur.My focus will be on the behavioral characteristics of entrepreneur. Sources from K. Axelton, Fever Pitch, Entrepreneur (December 2004), p. 74 N. L. Torres, Think Outside the Box, Entrepreneur (February 2004), pp. 108111 A. Pennington, Una Cassidy, Entrepreneur (November 2003), p. 24 found four entrepreneurial characteristics are key to a new ventures success. Successful entrepreneurs have 1) the ability to identify potential venture opportunities better than most people. 2) a hotshot of urgency that makes them action oriented, 3) switch the niche, 4) borrow a business model.